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Naira

Naira Plunges by About 300 Percent Under President Muhammadu Buhari Administration

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5 years ago

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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

is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst with over 20 years of experience in global financial markets. Olukoya is a published contributor to Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, InvestorPlace, and other leading financial platforms. He is widely recognized for his in-depth market analysis, macroeconomic insights, and commitment to financial literacy across emerging economies.

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