Naira Exchange Rates Today, Friday, July 16, 2021

The Nigerian Naira was unchanged across key foreign exchange markets on Friday, July 16, 2021 as scarcity continues to dictate Naira’s outlook against global counterparts.

At the parallel market, popularly known as the black market, the Naira exchanged at N506 to a United States Dollar despite efforts to curtail further decline and prop up the currency value. Both the British Pound and Euro common currency traded at N708 and N596 per unit, respectively.

The local currency remained under pressure even at the Central Bank of Nigeria’s regulated Bureau De Change section of forex. The naira was sold at N500; N710 and N600 to a United States Dollar, British Pound and Euro common currency, respectively.

Efforts to stimulate growth with stronger Naira value across key sectors are yet to crystalised as importers and import-dependent businesses continue to struggle to access forex. Weak foreign revenue generation amid over-independent on foreign imports has weighed on Nigerian Naira outlook and continues to dictate its value against global counterparts.

Naira Black Market Exchange Rates

Morning * Midday** Evening *** Final Rates

Bureau De Change Naira Rates

Central Bank of Nigeria’s Official Naira Rates