Naira continues its decline across the board as forex scarcity persists following the Central Bank of Nigeria’s decision to cut off the bureau de change forex section.
The Naira exchanged against the United States Dollar at N520 on Thursday at the black market. Against the British Pound and the Euro, the local currency exchanged at N715 and N600, respectively.
The Central Bank of Nigeria had accused Bureau de Change operators of engaging in money laundering and illicit flows with criminal-minded individuals that operate mainly at the unregulated black market section of forex.
Operators at the bureau de change section of forex had been accused of being the main source of forex for speculators and hoarders that manipulate forex rates at the unregulated black market, this the CBN plans to curb by cutting its weekly forex supply to BDCs but focus on servicing the economy through the banks.
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 |
| 29/07/2021 |
512/520 |
705/715 |
590/600 |
70/75 |
410/420 |
300/325 |
| 28/07/2021 |
515/525 |
700/710 |
590/600 |
63/70 |
410/420 |
300/320 |
| 27/07/2021 |
500/505 |
695/703 |
585/592 |
62/69 |
407/415 |
300/320 |
| 26/07/2021 |
500/504 |
695/703 |
585/592 |
62/69 |
407/415 |
300/320 |
| 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 |
| 29/07/2021 |
510/525 |
705/715 |
590/602 |
| 28/07/2021 |
510/520 |
695/706 |
585/600 |
| 27/07/2021 |
490/500 |
690/700 |
580/595 |
| 26/07/2021 |
490/500 |
694/705 |
580/595 |
| 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) |
| 7/28/2021 |
US DOLLAR |
409.16 |
409.66 |
410.16 |
| 7/28/2021 |
POUNDS STERLING |
567.8322 |
568.5261 |
569.22 |
| 7/28/2021 |
EURO |
483.0543 |
483.6446 |
484.2349 |
| 7/28/2021 |
SWISS FRANC |
446.8276 |
447.3736 |
447.9196 |
| 7/28/2021 |
YEN |
3.7163 |
3.7208 |
3.7253 |
| 7/28/2021 |
CFA |
0.7176 |
0.7276 |
0.7376 |
| 7/28/2021 |
WAUA |
580.7934 |
581.5032 |
582.2129 |
| 7/28/2021 |
YUAN/RENMINBI |
62.9303 |
63.0077 |
63.085 |
| 7/28/2021 |
RIYAL |
109.0919 |
109.2252 |
109.3585 |
| 7/28/2021 |
SOUTH AFRICAN RAND |
27.6161 |
27.6498 |
27.6836 |
N.B: These tables are updated three times a day.