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Naira Exchange Rates; Tuesday, March 16, 2021

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500 and 1000 naira bills (Nigerian currency)

Naira depreciated by N4 against the British Pound to N480 on Tuesday at the parallel market. Against the United States Dollar the local currency exchanged at N485, the same rate it traded on Monday.

Daily Naira Black Market Exchange Rates

Morning * Midday** Evening *** Final Rates

Date USD GBP EURO YUAN Canadian Australian
NGN BUY/SELL BUY/SELL BUY/SELL BUY/SELL BUY/SELL BUY/SELL
16/03/2021 478/485 670/680 572/582 60/68 386/398 382/300
15/03/2021 478/485 670/676 572/582 60/68 386/398 382/300
12/03/2021 477/485 670/675 570/580 60/68 386/398 382/300
11/03/2021 475/482 668/675 568/575 60/68 386/398 382/300
10/03/2021 477/484 670/675 570/580 60/68 386/398 382/300
09/03/2021 475/484 670/675 578/580 60/68 385/395 382/300
08/03/2021 475/482 670/675 578/583 60/68 385/395 382/300
05/03/2021 475/480 670/675 577/582 60/68 385/395 382/300
04/03/2021 475/480 665/672 574/580 60/68 385/395 382/300
03/03/2021 475/480 662/672 574/580 60/68 385/395 382/300
02/03/2021 475/480 662/672 574/580 60/68 385/395 382/300
01/03/2021 475/482 662/672 575/583 60/68 385/395 382/300
26/02/2021 475/482 660/672 575/583 60/68 385/395 382/300
25/02/2021 475/480 660/670 572/580 60/68 385/395 282/300
24/02/2021 475/480 655/670 570/580 60/68 385/395 282/300
23/02/2021 475/480 655/665 575/582 60/68 385/395 282/300
22/02/2021 475/480 652/660 575/580 60/68 385/395 282/300
19/02/2021 474/478 648/655 570/577 60/68 385/395 282/300
18/02/2021 472/477 645/655 570/575 60/68 385/395 282/300
17/02/2021 472/478 645/655 570/575 60/68 385/395 282/300
16/02/2021 465/473 645/652 565/570 60/68 385/395 282/300
15/02/2021 465/473 642/652 562/570 60/68 385/395 282/300
12/02/2021 465/473 642/650 562/570 60/68 385/395 282/300
11/02/2021 465/475 640/650 560/570 60/70 385/400 280/300
10/02/2021 472/478 645/652 565/575 60/70 385/400 280/300
09/02/2021 474/480 645/655 567/575 60/70 385/400 280/300
08/02/2021 474/480 645/655 567/575 60/70 385/400 280/300
05/02/2021 474/480 645/653 567/578 60/70 385/400 280/300
04/02/2021 474/480 645/653 567/578 60/70 385/400 280/300
03/02/2021 474/480 642/655 575/580 60/70 385/400 280/300
02/02/2021 474/480 642/655 575/580 60/70 385/400 280/300
01/02/2021 474/480 642/655 575/580 60/70 385/400 280/300
29/01/2021 474/480 642/652 575/580 60/70 385/400 280/300

Bureau De Change Naira Rates

Date USD GBP EURO
NGN BUY/SELL BUY/SELL BUY/SELL
16/03/2021 475/485 667/674 569/578
15/03/2021 470/480 665/674 560/578
12/03/2021 470/480 665/674 560/578
11/03/2021 470/480 665/674 560/578
10/03/2021 470/480 665/674 560/578
09/03/2021 470/480 665/674 567/580
08/03/2021 470/480 662/672 570/580
05/03/2021 470/480 662/672 570/580
04/03/2021 470/480 662/672 570/580
03/03/2021 470/480 662/670 573/580
02/03/2021 470/480 660/669 573/580
01/03/2021 470/480 660/669 574/580
26/02/2021 470/480 660/669 574/580
25/02/2021 470/480 658/665 574/580
24/02/2021 470/478 654/660 570/578
23/02/2021 470/478 654/660 570/578
22/02/2021 470/477 650/656 570/577
19/02/2021 465/476 645/656 565/573
18/02/2021 465/475 640/652 563/570
17/02/2021 465/477 640/655 562/572
16/02/2021 460/475 640/652 562/570
15/02/2021 460/475 638/652 561/568
12/02/2021 467/475 635/650 562/570
11/02/2021 465/475 640/655 560/575
10/02/2021 472/478 640/655 565/575
09/02/2021 472/478 640/655 565/575
08/02/2021 472/478 640/655 565/575
05/02/2021 472/478 640/650 565/575
04/02/2021 472/478 640/650 565/575
03/02/2021 471/478 640/650 572/580
02/02/2021 471/478 640/655 572/580
01/02/2021 471/478 640/655 572/580
29/01/2021 471/477 640/648 570/579

Central Bank of Nigeria’s Official Naira Rates

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Naira

Naira Strengthens Against Dollar at Official, Black Market in Final Session

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Naira to Dollar Exchange- Investors King Rate - Investors King

The Naira continued to strong-arm the US Dollar as it made a 1.7 percent gain in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Friday, October 4 as the local currency gained a value of N28.05 to close the closing session at N1,631.21/$1 at the official window.

According to data obtained from the FMDQ Securities Exchange, compared to N1,659.26/$1 published in the preceding session on Thursday.

Turnover published on the FMDQ Group website stood at $239.36 million indicating that the session’s turnover slid by 46.9 percent, indicating that there was a decrease of $211.03 million compared to $450.39 million published the previous day.

Equally, the domestic currency also witnessed gains against the British currency and the Euro in the week’s final session.

On the Pound Sterling, the local currency made an appreciation of N24.21 to wrap the session at N2,175.44/£1 from N2,199.65/£1 that it sold at the previous session.

Also, against the Euro, the Nigerian currency closed at N1,830.11/€1 versus N1,830.89/€1, indicating a 78 Kobo appreciation.

In the black market, the Naira also gained on the American currency by N5.23 to close at N1,676.56 per Dollar from N1,681.79.

It also made the same movement against the British Pound as it rose by N17.10 to N2,153.83 against N2,170.93 and trading against the Euro, the local currency added N6.93 to N1,852.10 versus N1,859.03.

It equally recorded a positive end result against the Canadian Dollar as it gained N10.52 to end the last session at N1,202.18 from Wednesday’s N1,212.72.

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Naira

Naira Gains on Dollar at Official Market on Improved Supply, Dips at Black Market

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Naira Exchange Rates - Investors King

The Naira appreciated against the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Thursday, October 3, as the local currency sold for N1,659.26/$1.

The domestic currency recorded a 0.6 percent or N9.89 again against the greenback compared to the N1,669.15/$1 it was valued at the previous session on Wednesday.

This occurred as turnover published on the FMDQ Group website stood at $450.39 million indicating that the session’s turnover surged by 155.3 percent, indicating that there was an increase of $273.94 million compared to $176.45 million that was published the day before.

This development indicates that the Central Bank of Nigeria (CBN) may have made fresh interventions in the market after it only sold to Bureau de Change (BDC) operators in recent weeks.

Meanwhile, the domestic currency also witnessed losses against the British Pound Sterling and the Euro in the week’s penultimate session.

On the Pound Sterling, the local currency made a loss of N56.00 to wrap the session at N2,199.65/£1 from N2,143.65/£1 that it sold at the previous session and against the Euro, the Nigerian currency closed at N1,830.89/€1 versus N1,789.71/€1, indicating an N41.18 depreciation.

In the black market, the Naira plunged by N25.75 to close at N1,681.79 per Dollar from N1,656.04 and extended this outcome against the British Pound as it fell by N12.70 to N2,170.93 against N2,158.23.

Trading against the Euro, the local currency dropped N14.80 to N1,859.03 versus N1,844.23

However, it was a positive outcome against the Canadian Dollar as it gained N7.28 to end the penultimate session at N1,212.72 from Wednesday’s N1,220.00.

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Naira

Demand Pressure Weakens Naira At Official FX Market

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naira

The Naira fell 8.3 percent against the US Dollar at the official market, the Nigerian Autonomous Foreign Exchange Market (NAFEM), as the local currency exchanged for the US Dollar at N1,669.15/$1 on Tuesday, October 2.

This meant the local currency slid by N127.21 from N1,541.94/$1 it closed at the previous session on Monday.

The official market was closed on Tuesday for the country’s 64th Independence Day.

As the fourth quarter commences, demand for FX has surged but recent efforts to bring some stability to the market through a series of auctions held by the Central Bank of Nigeria (CBN) for official dealers and Bureau de Change (BDCs) have not been able to tackle high seasonal demand.

Secondary data showed that there was a decrease in daily supply as the midweek turnover published on the FMDQ Group website stood at $176.45 million, indicating that the session’s turnover dipped by 2.9 percent or $5.41 million compared to $181.86 million published in the last trading session.

The local currency was flat against the Pound Sterling and the Euro as it wrapped the session at N2,143.65/£1 and N1,789.71/€1, respectively.

At the black market, the Naira was relatively flat against the Dollar as it retained the recent trading value of N1,656.

In a different outcome, it pulled a N3 gain on the Pound Sterling at the segment to sell at N2,158/£1 from N2,161/€1 and also added N3 on the Euro to wrap the midweek session at N1,844/€1 from N1,847/€1.

The Naira weakened on the Canadian Dollar by N5 to end the day at N1,220/CAD from N1,215/CAD quoted on Tuesday.

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