Naira Exchange Rates Today, Monday, July 12, 2021

The Nigerian Naira exchange rates to global counterparts drop further on Monday as forex scarcity clouded the future of the local currency.

The Naira opened the week at N505 to a United States Dollar at the parallel market on Monday, N2 lower than the N503 it exchanged on Thursday. This decline continued against the Euro common currency as the Naira exchanged at N595 to a unit but remained unchanged against the British Pound at N708.

At the Bureau De Change segment, the local currency remained under pressure at N500 against the American Dollar, N710 against the British Pound and N600 against the Euro.

Economic uncertainty persists in Africa’s largest economy despite a series of initiatives deployed by the Central Bank of Nigeria to arrest chronic liquidity issues in Nigeria and stimulate business activities across key sectors.

Import-dependent businesses have blamed their low production and dropped in patronage on forex scarcity and the high selling cost that has made it impossible for most households to patronise them as usual.

Naira Black Market Exchange Rates

Morning * Midday** Evening *** Final Rates

Bureau De Change Naira Rates

Central Bank of Nigeria’s Official Naira Rates