Forex
Daily Naira Exchange Rates; Wednesday December 9, 2020
Today’s Naira Black Market Exchange Rates
| Date | USD | GBP | EURO | YUAN | Canadian | Australian |
| NGN | BUY/SELL | BUY/SELL | BUY/SELL | BUY/SELL | BUY/SELL | BUY/SELL |
| 08/12/2020 | 470/483 | 610/620 | 560/570 | 50/70 | 330/362 | 245/293 |
| 07/12/2020 | 470/482 | 610/615 | 560/570 | 50/70 | 330/362 | 245/293 |
| 04/12/2020 | 465/475 | 615/625 | 560/570 | 50/70 | 330/362 | 245/293 |
Today’s Bureau De Exchange Naira Rates
| Date | USD | GBP | EURO |
| NGN | BUY/SELL | BUY/SELL | BUY/SELL |
| 08/12/2020 | 440/480 | 565/635 | 530/582 |
| 07/12/2020 | 440/480 | 565/630 | 530/582 |
| 04/12/2020 | 440/480 | 565/630 | 530/580 |
Today’s Central Bank of Nigeria Official Naira Rates
| Date | USD | GBP | EURO | YUAN |
| NGN | SELL | SELL | SELL | SELL |
| 08/12/2020 | 380 | 506.35 | 460.45 | 58.16 |
| 07/12/2020 | 380 | 504.60 | 460.37 | 58.16 |
| 04/12/2020 | 380 | 511.67 | 462.42 | 58.16 |
The Central Bank of Nigeria’s stipulated selling rate for the bureau de change is N392 to a United States Dollar, however, persistent scarcity due to the inability of the apex bank to consistently meet forex demand following COVID-19 disruption continues to hurt Naira value against global counterparts, even at the bureau de change section of the forex.
Last week, the Central Bank of Nigeria adjusted its remittance policy to better stimulate the economy and ease scarcity. The CBN planned to inject foreign remittance estimated at $24 billion per annum or $2 billion per month into the economy directly, against the old policy that prevented recipients of foreign inflows from withdrawing their funds in foreign currency.
Going forward, the apex bank hopes the new forex policy will help ease forex concerns and gradually prop up the Naira value against global counterparts.