Naira remained largely unchanged across key forex markets following the Central Bank of Nigeria (CBN)’s decision to half forex allocation to the bureau de change segment.
The Naira opened the day at N515 to a United States Dollar on Wednesday at the parallel market, the same rate it traded since Monday. Against the British Pound and the Euro, the Naira traded at N703 and N596, respectively.
At the Central Bank of Nigeria’s regulated section, NAFEX, the exchanged at N411.50 to a United States Dollar. While the CBN quoted its selling price at N410.12/US$1. Banks are now setting up forex units to ensure Nigerian access forex at central bank stipulated 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 |
| 11/08/2021 |
507/515 |
695/703 |
590/596 |
70/75 |
415/425 |
305/330 |
| 10/08/2021 |
503/510 |
695/703 |
590/596 |
70/75 |
415/425 |
305/330 |
| 09/08/2021 |
503/510 |
695/705 |
590/596 |
70/75 |
420/420 |
305/330 |
| 06/08/2021 |
505/510 |
700/705 |
592/598 |
70/75 |
407/415 |
305/330 |
| 05/08/2021 |
500/508 |
700/705 |
590/598 |
70/75 |
407/415 |
305/330 |
Bureau De Change Naira Rates
| Date |
USD |
GBP |
EURO |
| NGN |
BUY/SELL |
BUY/SELL |
BUY/SELL |
| 11/08/2021 |
500/513 |
680/705 |
585/600 |
| 10/08/2021 |
500/506 |
680/705 |
585/600 |
| 09/08/2021 |
500/506 |
680/705 |
580/600 |
| 07/08/2021 |
510/520 |
695/706 |
585/600 |
| 06/08/2021 |
495/508 |
680/705 |
580/602 |
| 05/08/2021 |
495/508 |
685/705 |
580/602 |
| 04/08/2021 |
495/508 |
685/705 |
580/602 |
Central Bank of Nigeria’s Official Naira Rates
| Date |
Currency |
Buying(NGN) |
Central(NGN) |
Selling(NGN) |
| 8/10/2021 |
US DOLLAR |
409.12 |
409.62 |
410.12 |
| 8/10/2021 |
POUNDS STERLING |
567.0812 |
567.7743 |
568.4673 |
| 8/10/2021 |
EURO |
479.5705 |
480.1566 |
480.7427 |
| 8/10/2021 |
SWISS FRANC |
443.4424 |
443.9844 |
444.5263 |
| 8/10/2021 |
YEN |
3.7028 |
3.7073 |
3.7118 |
| 8/10/2021 |
CFA |
0.7144 |
0.7244 |
0.7344 |
| 8/10/2021 |
WAUA |
580.8287 |
581.5385 |
582.2484 |
| 8/10/2021 |
YUAN/RENMINBI |
63.1144 |
63.192 |
63.2696 |
| 8/10/2021 |
RIYAL |
109.0899 |
109.2233 |
109.3566 |
| 8/10/2021 |
DANISH KRONA |
64.4679 |
64.5467 |
64.6255 |
