Tag Archives: black market exchange rate dollar to naira today

Naira to Dollar exchange rate – black market today

For those of us who might be interested in knowing daily currency exchange rate of the Naira to Dollar, Naira to Euro, Naira to pounds on both official bank rates and the black market  , can get it here.

Updated: 20th June, 2016 marks the End of Nigeria’s 15-Month Currency Peg. 

New currency exchange rate regime begins. Trading started at 9:00 am (0800 GMT) this morning.  All the 24 commercial banks  participated. The unified market exchange rate (official bank exchange rate)  is 249 to 265 naira to the dollar. At 1000 GMT, official bank exchange rate was quoted at 262.50 naira against the dollar.

Naira to Dollar Black market rate in lagos Nigeria,  18/06/16, 20/06/ 2016, ……..

NGN usd USD gbp GBP eur EUR
BUY / SELL BUY / SELL BUY / SELL
20/06/16 330 / 345** 445 / 480** 360 / 380**
20/06/16 330 / 345* 450 / 500* 340 / 400*
18/06/16 330 / 335 450 / 500 340 / 390

Naira to Dollar Black market rate in Enugu Nigeria,  20/06/ 2016

BUY / SELL BUY / SELL BUY / SELL
20/06/16 320 / 330** 440 / 460** 360 / 380**
20/06/16 315 / 325* 450 / 500* 340 / 400*

Subsequent update of this post will come via the comments.

Naira experiences its biggest daily depreciation against the dollar as it exchanged for N345 to a dollar in the black market today. This is N20 depreciation when compared with the closing exchange rate of N325 per dollar in the parallel market on Friday, 12th February.
Naira also depreciated by N45 against the British pound as the black market exchange rate rose to N485 per pound, N340 as on Friday.

naira to dollar black market today

However, naira remains relatively same at the official interbank foreign exchange market as the interbank rate (official exchange rate of naira to dollar) stood at N197.47 per dollar at the close of business yesterday, 15th February.

The gap between the interbank rate and the black market rate deepens to N147.53 per dollar from N127.53 per dollar last week.
It has been noted that the naira has been on a steady decline since January 12, 2016, when the Central Bank of Nigeria, CBN, stopped weekly dollar sale to BDCs. Consequent to this action, the naira traded at N265 per dollar in the black market. The steady depreciation was also compounded by inability of the CBN to meet foreign exchange demand.

Here is the dollar to naira exchange rate – black market today and official exchange rate (interbank rate).

            DOLLAR TO NAIRA EXCHANGE RATE-BLACK MARKET

NAIRA              DOLLAR    POUND    EURO
(NGN)                      (USD)    (GBP)           (EUR)
Buy / Sell   Buy / Sell    Buy / Sell

12/02/2016    330 / 335  446 / 452  350 / 360
15/02/2016     337 / 340  450 / 455  365 / 370
16/02/2016    345 / 350  465 / 470  367 / 375

UPDATED: For the latest and every other day naira to dollar exchange rate  changes for black  or parallel market , check the comment box below.

SEND THROUGH: WESTERN UNION TRANSFER

NAIRA        DOLLAR     POUND     EURO
(NGN)              (USD)        (GBP)             (EUR)

12/02/2016   193.83     286.71           217.97
15/02/2016  193.83    285.57          216.19
16/02/2016   193.83     284.90          215.69

UPDATED: For every other day naira to dollar exchange rate  changes – sending money via western union, you can check the comment box below.

CBN EXCHANGE RATES (INTERBANK RATE )

NAIRA           DOLLAR   POUND     EURO
(NGN)               (USD)      (GBP)            (EUR)

12/02/2016  197.00    286.46       222.26
15/02/2016  197.00    285.00        220.56

 

For questions and comments on black market naira to dollar exchange rate today, you can use the comment box below.