Connect with us

Naira

Naira Plunges by About 300 Percent Under President Muhammadu Buhari Administration

Published

on

President Buhari - Investors King

The Nigerian Naira has plunged by about 300 percent against some of its global counterparts under President Muhammadu Buhari.

A check by Investors King revealed that the local currency which was trading at N212.1 to a Euro as of January 2014 is presently being exchanged at N484.06 a Euro by the Central Bank of Nigeria, representing a 282 percent decline.

At the parallel market popularly known as the black market, the Naira is currently trading at N595, about 300 percent decline. See the details below.

Here is Monthly Average Naira Exchange Rates Since 2004

Year Month DAS (USD) IFEM (USD) BDC (USD) GB Pounds EURO CFA Franc
2004 1 136.08 137.76 147.65 247.93 171.67 0.16
2004 2 135.16 136.44 142.95 252.78 171.09 0.2
2004 3 134.47 134.8 139.92 245.47 164.88 0.25
2004 4 133.51 137.23 138.85 240.26 159.87 0.24
2004 5 133.01 134.81 139.64 237.8 159.75 0.24
2004 6 132.75 133.54 140 242.54 161.53 0.24
2004 7 132.8 134.39 139.84 244.54 162.85 0.25
2004 8 132.83 133.23 140.33 241.61 161.66 0.25
2004 9 132.84 133.77 141.08 237.92 162.06 0.25
2004 10 132.86 133.76 140.54 240.05 165.91 0.25
2004 11 132.87 133.15 140.69 247.14 172.67 0.26
2004 12 132.86 133.14 138.71 256.48 177.95 0.27
2005 1 132.86 133.11 139.8 249.54 174.13 0.27
2005 2 132.85 133.15 139.93 250.51 173.05 0.26
2005 3 132.85 133.09 139.73 254.4 176.26 0.27
2005 4 132.85 133.06 141.77 251.48 171.8 0.26
2005 5 132.82 133.37 141.21 246.4 168.52 0.26
2005 6 132.87 134.35 141.85 241.77 161.67 0.25
2005 7 132.87 135.35 143.94 232.38 160 0.24
2005 8 133.23 135.94 145.82 237.55 162.81 0.25
2005 9 130.81 132.55 145.8 234.2 158.66 0.24
2005 10 130.84 131.09 144.99 228.38 155.75 0.24
2005 11 130.63 130.8 143.94 214.58 144.97 0.23
2005 12 130.29 130.08 141.93 225.33 153.07 0.23
2006 1 130.29 129.93 144.09 227.93 156.43 0.24
2006 2 129.59 129.33 145.47 224.4 153.31 0.23
2006 3 128.7 128.68 148.46 222.72 153.18 0.23
2006 4 128.47 128.58 147.85 224.89 156.24 0.24
2006 5 128.45 128.57 142.33 237.23 162.31 0.25
2006 6 128.45 128.5 136.82 234.41 160.95 0.24
2006 7 128.38 128.43 130.12 234.47 161.29 0.24
2006 8 128.33 128.43 130.46 240.73 162.9 0.25
2006 9 128.29 128.39 130.21 238.67 161.56 0.25
2006 10 128.28 128.42 130.3 238.67 161.56 0.25
2006 11 128.29 128.42 129.82 242.67 155.1 0.25
2006 12 128.29 128.39 129.32 249.37 167.82 0.24
2007 1 128.28 128.37 130.07 248.89 164.87 0.25
2007 2 128.27 128.33 130 248.55 166 0.24
2007 3 128.15 128.25 129.34 247.08 168.02 0.25
2007 4 127.98 128.25 129 252.28 171.45 0.26
2007 5 127.56 127.62 129.16 237.23 162.31 0.25
2007 6 127.41 127.5 128.33 250.57 169.31 0.26
2007 7 127.19 127.2 127.52 256.13 172.92 0.26
2007 8 126.68 126.57 127.43 251.87 170.71 0.26
2007 9 126.03 125.74 126.5 251.85 170.69 0.26
2007 10 124.28 123.56 126.5 251.97 175.36 0.27
2007 11 120.51 119.45 123.8 242.73 173.4 0.26
2007 12 118.21 118.11 121.07 236.79 170.61 0.26
2008 1 117.98 117.72 120.8 230.09 171.88 0.26
2008 2 118.21 117.5 119.57 229.26 172.3 0.26
2008 3 117.92 116.79 119 240.26 181.11 0.27
2008 4 117.87 117.47 118.95 231.24 183.74 0.28
2008 5 117.83 117.79 118.8 229.2 181.52 0.28
2008 6 117.81 117.74 118.7 229.18 181.45 0.27
2008 7 117.77 117.71 119 231.94 183.95 0.28
2008 8 117.74 117.69 119 220.26 174.61 0.27
2008 9 117.73 117.62 119 208.09 169.13 0.26
2008 10 117.72 117.72 119 196.9 154.82 0.24
2008 11 117.74 117.88 119.1 179.07 148.53 0.23
2008 12 126.48 134.33 137.65 192 174.72 0.26
2009 1 145.78 146.59 149.88 206.19 189.34 0.29
2009 2 147.14 149.12 156.93 210.17 186.48 0.28
2009 3 147.72 0 174.32 207.92 191.33 0.29
2009 4 147.23 0 180.27 214.27 192.23 0.29
2009 5 147.84 180.63 225.42 199.6 0.3
2009 6 148.2 148.54 166.14 239.91 205.65 0.31
2009 7 148.59 149.88 155.13 240.66 207.36 0.32
2009 8 151.86 155.23 158.95 248.6 214.48 0.36
2009 9 152.3 153.25 158 247.02 219.02 0.33
2009 10 149.36 150.22 153.05 239.53 219.35 0.33
2009 11 150.85 151.03 152.95 248.34 223.07 0.34
2009 12 149.69 149.8 153.48 240.98 216.82 0.33
2010 1 149.78 150.33 153.55 239.96 211.72 0.32
2010 2 150.22 150.97 152.08 232.66 203.67 0.31
2010 3 149.83 150.08 151.85 223.26 201.38 0.31
2010 4 149.89 150.38 152 217.36 186.52 0.28
2010 5 150.31 151.49 153.26 219.42 186.52 0.28
2010 6 150.19 151.27 153.87 219.42 181.65 0.28
2010 7 150.1 150.27 152.41 227.02 189.83 0.29
2010 8 150.27 150.7 152.23 232.94 191.9 0.29
2010 9 151.03 152.62 153.85 232.86 195.91 0.3
2010 10 151.25 151.78 153.98 237.51 208.34 0.32
2010 11 150.22 150.55 153.13 237.62 203.64 0.31
2010 12 150.48 152.63 154.57 232.78 197.27 0.3
2011 1 151.62 152.57 156.08 236.92 200.57 0.3
2011 2 151.96 152.75 155.11 242.81 205.58 0.31
2011 3 152.54 155.21 157.09 243.95 211.17 0.32
2011 4 153.92 154.6 157.05 249.16 220.08 0.33
2011 5 154.8 156.17 158.05 250.11 219.66 0.33
2011 6 154.46 155.66 158.32 248.14 220.22 0.34
2011 7 151.82 152.6 163.71 242.51 216.08 0.33
2011 8 152.72 152.36 163.14 247.53 216.79 0.33
2011 9 155.26 156.7 158.26 224.88 211.73 0.32
2011 10 153.26 159.82 161.32 239.15 208.22 0.32
2011 11 155.71 158.76 160.35 243.45 208.78 0.32
2011 12 158.23 162.27 163.35 244.53 206.52 0.31
2012 1 158.38 161.31 164.62 243.27 202.52 0.31
2012 2 157.87 158.59 160.85 246.98 206.71 0.31
2012 3 157.59 157.72 159.41 246.92 206.05 0.31
2012 4 157.33 157.44 159.37 249.34 205 0.31
2012 5 157.28 157.46 159.67 248.03 199.42 0.3
2012 6 157.44 162.33 163.43 242.42 193.92 0.3
2012 7 157.43 161.33 163.32 243.06 191.56 0.29
2012 8 157.38 158.97 162.24 244.87 193.28 0.29
2012 9 157.34 157.78 159.8 250.86 200.27 0.3
2012 10 157.31 157.24 159 250.45 202.21 0.31
2012 11 157.31 157.58 159.32 248.69 199.91 0.3
2012 12 157.32 157.33 159.26 251.56 204.3 0.31
2013 1 157.3 156.96 159.12 248.72 206.97 0.31
2013 2 157.3 157.52 158.7 241.1 208.16 0.32
2013 3 157.31 158.63 160 234.75 201.95 0.31
2013 4 157.31 158.2 159.81 238.49 202.88 0.31
2013 5 157.3 158.02 159.57 238.34 202.34 0.31
2013 6 157.31 160.02 160.98 241.11 205.47 0.31
2013 7 157.32 161.12 162.43 235.64 203.12 0.3
2013 8 157.31 161.15 162.28 241.35 207.23 0.31
2013 9 157.32 161.96 163.14 251.43 210.2 0.32
2013 10 157.42 159.83 165 250.86 212.74 0.32
2013 11 157.27 158.79 167.14 250.76 210.17 0.32
2013 12 157.27 159.05 171.4 255.13 213.41 0.32
2014 1 157.29 160.23 171.71 256.59 212.1 0.32
2014 2 157.31 163.62 169.45 257.81 212.72 0.32
2014 3 157.3 164.61 171.5 258.95 215.39 0.33
2014 4 157.29 162.19 170.25 260.67 215.14 0.33
2014 5 157.29 161.86 166.85 262.41 213.98 0.33
2014 6 157.29 162.82 167.17 263.29 211.68 0.32
2014 7 157.29 162.25 167.71 265.93 211.24 0.32
2014 8 157.29 161.99 170.36 260.12 207.41 0.32
2014 9 157.3 162.93 168.64 254.06 201 0.31
2014 10 157.31 164.64 169.43 250.27 197.63 0.3
2014 11 160 171.1 175.85 249.96 197.6 0.3
2014 12 169.68 180.33 188.45 262.86 207.16 0.32
2015 1 169.68 181.78 196.13 254.39 194.85 0.3
2015 2 169.68 194.48 213.03 274.79 204.78 0.31
2015 3 197.07 222.93 295.6 213.74 0.32
2015 4 197 210.7 294.24 212.11 0.32
2015 5 197 219.55 304.79 219.85 0.34
2015 6 196.92 218.98 306.06 220.84 0.34
2015 7 196.97 237.15 306.41 216.87 0.33
2015 8 197 216.64 307.21 219.33 0.33
2015 9 197 222.68 302.55 221.22 0.34
2015 10 196.99 224.83 302.26 221.45 0.34
2015 11 196.99 232.4 299.38 211.53 0.32
2015 12 196.99 258.3 295.39 214 0.32
2016 1 197 289.78 283.62 214.09 0.33
2016 2 197 329.83 281.79 218.55 0.33
2016 3 197 320.93 280.4 218.89 0.33
2016 4 197 320.71 282.07 223.46 0.34
2016 5 197 336.93 286.33 222.85 0.34
2016 6 231.76 351.82 328.53 260.03 0.38
2016 7 294.57 364.47 388.37 325.9 0.49
2016 8 309.73 396.15 406.13 347.33 0.53
2016 9 305.23 431.1 401.08 342.17 0.52
2016 10 305.21 462.03 375.71 336.21 0.51
2016 11 305.18 415.36 379.49 329.84 0.5
2016 12 305.22 455.26 381.39 322.13 0.47
2017 1 305.2 493.29 376.32 324.37 0.49
2017 2 305.31 494.7 381.17 324.95 0.5
2017 3 306.4 429.48 378.13 327.35 0.5
2017 4 306.05 392.89 386.92 328.15 0.5
2017 5 305.54 384.48 395.04 337.72 0.51
2017 6 305.72 366.25 391.57 343.24 0.52
2017 7 305.86 365.38 397.36 358.5 0.54
2017 8 305.67 365.57 396.08 360.93 0.55
2017 9 305.89 365.55 408.57 364.53 0.56
2017 10 305.62 362.21 403.25 359.34 0.55
2017 11 305.9 362.41 404.45 359.07 0.54
2017 12 306.31 362.83 410.48 362.36 0.55
2018 1 305.78 363.2 422.35 373 0.57
2018 2 305.9 362.48 427.4 377.84 0.58
2018 3 305.74 362.07 427.26 377.19 0.57
2018 4 305.61 362.25 428.38 374.22 0.57
2018 5 305.83 362.86 412.23 361.67 0.55
2018 6 305.87 360.66 406.64 357.48 0.54
2018 7 305.81 359.36 402.76 357.4 0.54
2018 8 306.06 359 394.24 353.54 0.54
2018 9 306.27 362.86 399.86 357.14 0.54
2018 10 306.5 360.74 398.86 351.87 0.54
2018 11 306.71 362.82 395.87 348.61 0.53
2018 12 306.92 363.46 389.4 349.54 0.53
2019 1 306.85 360.94 395.53 350.45 0.53
2019 2 306.77 359.76 399.02 348.31 0.53
2019 3 306.92 359.24 404.28 347.07 0.53
2019 4 306.96 359 400.18 344.95 0.53
2019 5 306.95 359.75 393.98 343.34 0.52
2019 6 306.95 359.94 388.93 346.91 0.53
2019 7 306.94 359.43 382.8 344.29 0.53
2019 8 306.93 359 373.26 341.31 0.52
2019 9 306.92 359 376.06 337.81 0.51
2019 10 306.96 359 388.43 339.59 0.52
2019 11 306.95 359 395.63 339.3 0.52
2019 12 306.95 360.25 402.83 341.19 0.52
2020 1 306.96 361 401.22 340.77 0.52
2020 2 306.96 359 397.96 334.79 0.5
2020 3 326.63 376.89 403.79 361.02 0.52
2020 4 361 420.15 447,92 392.12 0.51
2020 5 361 443.89 443.96 393.42 0.51
2020 6 361 447.71 452.17 406.38 0.53
2020 7 377.19 464.71 476.54 431.27 0.53
2020 8 381 473.48 500.38 450.7 0.66
2020 9 381 453.68 494.18 449.35 0.68
2020 10 381 459.5 494.71 448.82 0.68
2020 11 381 472.74 503.49 451.09 0.68
2020 12 381 471.62 511.67 463.54 0.7
2021 1 381 472.4 519.7 463.84 0.71
2021 2 381 476.05 528.05 460.96 0.7
2021 3 381 481.21 528.05 453.51 0.69
2021 4 381 481.6 527.48 456.43 0.69
2021 5 397.75 482.82 561.26 484.06 0.72

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Continue Reading
Comments

Naira

Naira Exchange Rates Today, Friday, July 23, 2021

Published

on

Naira Notes - Investors King

The Naira improves slightly against its global counterparts at the parallel market on Friday as liquidity increase marginally across key forex markets. The Naira gained N2 against the United States Dollar from N506 it traded last week Friday to N504 today, Friday, July 23, 2021 at the parallel market. Against the Euro and British Pound, the local currency exchanged at N595 and N705, respectively.

Economic uncertainty amid unclear policy direction has put a lid on Naira against global currencies, especially with Nigeria’s fiscal buffer lacking despite crude oil trading at an almost 2-year high from COVID-19 record-low. The drop in foreign reserves impeded the Central Bank of Nigeria’s ability to consistently intervene at the forex to prop the Naira value as usual.

At the bureau de change section, the Naira exchanged at N500, N705 and N595 to the United States Dollar, British Pound and the Euro, respectively. See the table below for Naira rates.

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
23/07/2021 500/504** 698/705** 588/595** 62/69 407/415 300/320
22/07/2021 498/503 695/703 585/590 62/69 407/415 300/320
19/07/2021 495/503 698/705 585/592 62/69 407/415 300/320
16/07/2021 502/506 700/708 590/596 62/69 407/415 300/315
15/07/2021 500/505 700/708 590/596 62/69 407/415 300/320
14/07/2021 500/505 702/708 590/595 62/68 407/415 300/320
13/07/2021 500/505 702/708 590/595 62/68 407/415 300/320
12/07/2021 500/505 700/708 590/595 62/69 407/415 300/320
09/07/2021 500/505 700/708 588/593 62/69 407/417 300/320
08/07/2021 499/503 700/708 588/593 62/69 407/417 300/325
07/07/2021 499/503 700/710 588/593 62/69 407/417 300/325
06/07/2021 499/503 698/710 590/595 62/69 407/417 300/325

Bureau De Change Naira Rates

Date USD GBP EURO
NGN BUY/SELL BUY/SELL BUY/SELL
23/07/2021 490/500 694/705 580/595
22/07/2021 490/500 690/705 580/595
19/07/2021 490/500 690/707 580/595
16/07/2021 490/500 700/710 585/600
15/07/2021 490/500 698/710 585/600
14/07/2021 490/500 698/710 590/595
13/07/2021 490/500 697/710 585/600
12/07/2021 490/500 698/710 585/600
09/07/2021 490/500 698/710 585/600
08/07/2021 490/500 697/710 585/600
07/07/2021 490/500 697/710 585/600
06/07/2021 490/500 697/710 585/600
05/07/2021 490/500 700/714 585/600

Central Bank of Nigeria’s Official Naira Rates

Date Currency Buying(NGN) Central(NGN) Selling(NGN)
7/22/2021 US DOLLAR 409.14 409.64 410.14
7/22/2021 POUNDS STERLING 563.1812 563.8695 564.5577
7/22/2021 EURO 481.8851 482.474 483.0629
7/22/2021 SWISS FRANC 444.7657 445.3093 445.8528
7/22/2021 YEN 3.7114 3.7159 3.7204
7/22/2021 CFA 0.7151 0.7251 0.7351
7/22/2021 WAUA 580.1991 580.9082 581.6172
7/22/2021 YUAN/RENMINBI 63.2522 63.3299 63.4077
7/22/2021 RIYAL 109.0778 109.2111 109.3444
7/22/2021 DANISH KRONA 64.7732 64.8524 64.9315

N.B: These tables are updated three times a day.

Continue Reading

Naira

Naira Exchange Rates Today, Thursday, July 22, 2021

Published

on

NAIRA - Investors King

Naira gained slightly across key foreign exchange markets during the holiday and opened at N503 against the United States Dollar at the Parallel market. Against the British Pound, it exchanged at N703 and N590 to Euro.

Despite series of policies deployed at arresting the falling Naira and curb economic stagnation, the crude oil-backed Naira continued to struggle against its global counterparts.

At the Bureau de Change section, the Naira traded at N500 to a United States Dollar, N705 to a British Pound and N595 to a Euro. See other Naira exchange rates below.

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
22/07/2021 498/503 695/703 585/590 62/69 407/415 300/320
19/07/2021 495/503 698/705 585/592 62/69 407/415 300/320
16/07/2021 502/506 700/708 590/596 62/69 407/415 300/315
15/07/2021 500/505 700/708 590/596 62/69 407/415 300/320
14/07/2021 500/505 702/708 590/595 62/68 407/415 300/320
13/07/2021 500/505 702/708 590/595 62/68 407/415 300/320
12/07/2021 500/505 700/708 590/595 62/69 407/415 300/320
09/07/2021 500/505 700/708 588/593 62/69 407/417 300/320
08/07/2021 499/503 700/708 588/593 62/69 407/417 300/325
07/07/2021 499/503 700/710 588/593 62/69 407/417 300/325
06/07/2021 499/503 698/710 590/595 62/69 407/417 300/325

Bureau De Change Naira Rates

Date USD GBP EURO
NGN BUY/SELL BUY/SELL BUY/SELL
22/07/2021 490/500 690/705 580/595
19/07/2021 490/500 690/707 580/595
16/07/2021 490/500 700/710 585/600
15/07/2021 490/500 698/710 585/600
14/07/2021 490/500 698/710 590/595
13/07/2021 490/500 697/710 585/600
12/07/2021 490/500 698/710 585/600
09/07/2021 490/500 698/710 585/600
08/07/2021 490/500 697/710 585/600
07/07/2021 490/500 697/710 585/600
06/07/2021 490/500 697/710 585/600
05/07/2021 490/500 700/714 585/600

Central Bank of Nigeria’s Official Naira Rates

Continue Reading

Naira

Naira Exchange Rates Today, Monday, July 19, 2021

Published

on

500 and 1000 naira bills (Nigerian currency)

Naira declined further against the United States Dollar at the parallel market, popularly known as the black market ahead of the Sallah Holiday. The Naira dipped by N1 from N505 it traded against the United States Dollar on Thursday to N506 on Friday but moderated to N505 on Monday, July 19, 2021.

Against the British Pound and Euro common currency, the Nigerian Naira exchanged at N708 and N592, respectively.

Lack of liquidity across the foreign exchange markets continued to weigh on the Naira value and economic activities at large given the nature of the Nigerian economy, an import-dependent economy.

The Nigerian Naira traded at N500 against the United States Dollar at the bureau de change section of the forex market. While, it sold at N710 and N595 to a British Pound and Euro, respectively. See other exchange rates below.

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
19/07/2021 497/505 698/705 585/592 62/69 407/415 300/320
16/07/2021 502/506 700/708 590/596 62/69 407/415 300/315
15/07/2021 500/505 700/708 590/596 62/69 407/415 300/320
14/07/2021 500/505 702/708 590/595 62/68 407/415 300/320
13/07/2021 500/505 702/708 590/595 62/68 407/415 300/320
12/07/2021 500/505 700/708 590/595 62/69 407/415 300/320
09/07/2021 500/505 700/708 588/593 62/69 407/417 300/320
08/07/2021 499/503 700/708 588/593 62/69 407/417 300/325
07/07/2021 499/503 700/710 588/593 62/69 407/417 300/325
06/07/2021 499/503 698/710 590/595 62/69 407/417 300/325

Bureau De Change Naira Rates

Date USD GBP EURO
NGN BUY/SELL BUY/SELL BUY/SELL
19/07/2021 495/500 695/710 580/595
16/07/2021 490/500 700/710 585/600
15/07/2021 490/500 698/710 585/600
14/07/2021 490/500 698/710 590/595
13/07/2021 490/500 697/710 585/600
12/07/2021 490/500 698/710 585/600
09/07/2021 490/500 698/710 585/600
08/07/2021 490/500 697/710 585/600
07/07/2021 490/500 697/710 585/600
06/07/2021 490/500 697/710 585/600
05/07/2021 490/500 700/714 585/600

Central Bank of Nigeria’s Official Naira Rates

Continue Reading




Advertisement
Advertisement
Advertisement

Trending