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Naira Exchange Rate Today, Friday, August 20, 2021

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Naira to Dollar Exchange- Investors King Rate - Investors King

Naira depreciated further against its global counterparts on Friday at the black market as forex scarcity persist.

The local currency exchanged at N520 to a United States Dollar at the parallel market, representing a decline of N5 when compared to N515 it exchanged on Tuesday. While against the British and Euro common currency, the Nigerian traded at N708 and N607, respectively.

Economic uncertainty continues to dictate the Nigerian Naira’s outlook, especially after the series of changes implemented by the Central Bank of Nigeria (CBN) to prop up the value of the local currency, curb the activities of speculators and hoarders at the unregulated black market and converge the nation’s exchange rates.

However, weak foreign reserves amid chronic forex scarcity remained the bane of Nigeria’s forex predicament. The inability of the Central Bank of Nigeria to service the economy with enough forex given the structure of the economy as an import-dependent economy continues to escalate the price of import goods and the profit of imports dependent businesses. See other exchange rates below.

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
20/08/2021 512/520* 703/708* 603/607* 70/75 420/430 305/330
19/08/2021 512/520 703/708 603/607 70/75 420/430 305/330
18/08/2021 510/517 700/707 597/606 70/75 420/430 305/330
17/08/2021 510/515 700/706 595/605 70/75 415/430 305/330
16/08/2021 508/515 700/705 590/600 70/75 415/430 305/330
13/08/2021 508/515 695/703 590/600 70/75 415/425 305/330
12/08/2021 507/515 695/702 590/598 70/75 415/425 305/330
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
20/08/2021 505/520 700/708 600/606
19/08/2021 505/520 700/708 600/606
18/08/2021 500/516 700/708 595/606
17/08/2021 500/513 695/706 585/603
16/08/2021 500/513 695/705 585/600
13/08/2021 500/513 690/700 585/600
12/08/2021 500/513 690/700 585/600
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)
8/19/2021 US DOLLAR 409.13 409.63 410.13
8/19/2021 POUNDS STERLING 559.608 560.2919 560.9758
8/19/2021 EURO 478.6003 479.1852 479.7701
8/19/2021 YEN 3.7323 3.7368 3.7414
8/19/2021 CFA 0.712 0.722 0.732
8/19/2021 WAUA 579.7989 580.5075 581.2161
8/19/2021 YUAN/RENMINBI 63.043 63.1205 63.198
8/19/2021 RIYAL 109.0868 109.2201 109.3534
8/19/2021 SOUTH AFRICAN RAND 26.9452 26.9781 27.011
8/19/2021 DANISH KRONA 64.3418 64.4204 64.499

N.B: These tables are updated three times a day.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Naira

Naira Exchange Rates Today, Friday, September 17, 2021

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Naira Exchange Rates - Investors King

Naira continued its downward trend against other currencies on Friday as it plunged to N570 against the United States Dollar at the black market. The local currency traded at N770 and N655 to British Pound and Euro, respectively.

Persistent forex scarcity amid a series of in effective policies have made access to forex impossible for most of businesses that operates in largely import dependent African biggest economy.

Nigeria’s forex reserves, the means in which the nation, service its dollar consuming 200 million population has been on a decline in recent weeks despite crude oil trading at over a year high of $73 a barrel. Some of the factors that have crippled the ability of central bank to cushion the economy with enough forex is low crude oil production, partly due to production cap, weak local manufacturing sector that has made the nation a huge import dependent economy, the ongoing crisis between herders and farmers, rising costs even with falling inflation, etc.

At the bureau de change section, Naira exchanged at N565, N775 and N655 to a United States Dollar, British Pound and Euro common currency.

The Central Bank of Nigeria (CBN) had stopped the sale of forex to the bureau de change operators to plug forex leakages and curb activities of criminal elements, the decision has worsen forex availability. See other forex rates below.

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
17/09/2021 560/570* 763/770* 647/655* 70/75 430/440 310/330
16/09/2021 560/570 763/770 647/655 70/75 430/440 310/330
15/09/2021 552/562 754/760 640/648 70/75 430/440 310/330
14/09/2021 550/557 754/760 640/645 70/75 430/440 310/330
13/09/2021 543/550 742/750 630/636 70/75 425/435 310/330
10/09/2021 538/545 738/745 630/636 70/75 420/432 310/330
09/09/2021 532/540 730/740 627/632 70/76 419/430 310/330
08/09/2021 528/535 723/730 623/629 70/75 419/426 310/330

Bureau De Change Naira Rates

Date USD GBP EURO
NGN BUY/SELL BUY/SELL BUY/SELL
17/09/2021 555/565 760/775 640/655
16/09/2021 548/555 753/765 635/645
15/09/2021 548/555 750/761 635/645
14/09/2021 548/555 750/761 635/645
13/09/2021 535/550 737/745 630/636
11/09/2021 530/547 735/745 630/635
10/09/2021 530/547 735/745 630/635
09/09/2021 528/538 730/738 625/630
08/09/2021 525/531 718/730 616/625

Central Bank of Nigeria’s Official Naira Rates

Date Currency Buying(NGN) Central(NGN) Selling(NGN)
9/16/2021 US DOLLAR 409.57 410.07 410.57
9/16/2021 POUNDS STERLING 566.763 567.4549 568.1468
9/16/2021 EURO 482.0229 482.6114 483.1998
9/16/2021 SWISS FRANC 442.6827 443.2231 443.7635
9/16/2021 YEN 3.7434 3.748 3.7526
9/16/2021 CFA 0.7191 0.7291 0.7391
9/16/2021 WAUA 583.3071 584.0192 584.7313
9/16/2021 YUAN/RENMINBI 63.5338 63.6118 63.6898
9/16/2021 RIYAL 109.2012 109.3345 109.4678
9/16/2021 SOUTH AFRICAN RAND 28.3101 28.3446 28.3792

N.B: These tables are updated three times a day.

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Naira

Naira Exchange Rates Today, Thursday, September 16, 2021

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Naira - Investors King

Naira continued its downward trend against other currencies on Thursday as it plunged to N570 against the United States Dollar at the black market. The local currency traded at N770 and N655 to British Pound and Euro, respectively.

Persistent forex scarcity amid a series of in effective policies have made access to forex impossible for most of businesses that operates in largely import dependent African biggest economy.

Nigeria’s forex reserves, the means in which the nation, service its dollar consuming 200 million population has been on a decline in recent weeks despite crude oil trading at over a year high of $73 a barrel. Some of the factors that have crippled the ability of central bank to cushion the economy with enough forex is low crude oil production, partly due to production cap, weak local manufacturing sector that has made the nation a huge import dependent economy, the ongoing crisis between herders and farmers, rising costs even with falling inflation, etc.

At the bureau de change section, Naira exchanged at N555, N765 and N645 to a United States Dollar, British Pound and Euro common currency.

The Central Bank of Nigeria (CBN) had stopped the sale of forex to the bureau de change operators to plug forex leakages and curb activities of criminal elements, the decision has worsen forex availability. See other forex rates below.

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
16/09/2021 560/570 763/770 647/655 70/75 430/440 310/330
15/09/2021 552/562 754/760 640/648 70/75 430/440 310/330
14/09/2021 550/557 754/760 640/645 70/75 430/440 310/330
13/09/2021 543/550 742/750 630/636 70/75 425/435 310/330
10/09/2021 538/545 738/745 630/636 70/75 420/432 310/330
09/09/2021 532/540 730/740 627/632 70/76 419/430 310/330
08/09/2021 528/535 723/730 623/629 70/75 419/426 310/330

Bureau De Change Naira Rates

Date USD GBP EURO
NGN BUY/SELL BUY/SELL BUY/SELL
16/09/2021 548/555 753/765 635/645
15/09/2021 548/555 750/761 635/645
14/09/2021 548/555 750/761 635/645
13/09/2021 535/550 737/745 630/636
11/09/2021 530/547 735/745 630/635
10/09/2021 530/547 735/745 630/635
09/09/2021 528/538 730/738 625/630
08/09/2021 525/531 718/730 616/625

Central Bank of Nigeria’s Official Naira Rates

N.B: These tables are updated three times a day.

 

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Naira

Dollar to Naira Exchange Rate Today, Tuesday, September 14, 2021

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Naira Notes - Investors King

Naira extended its decline on Tuesday as it hits N557 against the United States Dollar at the parallel market, popularly called the black market.

The local currency exchanged at N557 to a United States Dollar at the black market, representing an all-time record low against the greenback. Against the British Pound and the Euro common currency, the Naira slid to N760 and N645, respectively.

Africa’s largest economy is enmeshed in low forex liquidity caused by poor economic structure that over the years has limited and weakened the nation’s foreign revenue generation. This weak foreign revenue generation has impeded Nigeria, a largely import dependent economy, from effectively servicing her economy with necessary forex for economic activities.

The inability to service the economy with enough forex coupled with the decision of the Central Bank of Nigeria to halt the sale of forex to Buruea De Change Operators have compounded Nigeria’s forex situation and further disrupted the Naira’s outlook.

Still, the apex bank continues to post its inaccessible official rates as shown in the table below. Despite insisting that exchange rates are stipulated Central Bank of Nigeria’s rates, many Nigerians and businesses operating in the country find it hard or impossible to access forex at the central bank’s rates.

The Central Bank of Nigeria sells U.S Dollar at N410.51, while the British Pound and Euro are sold at N568.1869 and N483.6629, respectively.

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
14/09/2021 550/557 754/760 640/645 70/75 430/440 310/330
13/09/2021 543/550 742/750 630/636 70/75 425/435 310/330
10/09/2021 538/545 738/745 630/636 70/75 420/432 310/330
09/09/2021 532/540 730/740 627/632 70/76 419/430 310/330
08/09/2021 528/535 723/730 623/629 70/75 419/426 310/330

Bureau De Change Naira Rates

Date USD GBP EURO
NGN BUY/SELL BUY/SELL BUY/SELL
14/09/2021 548/555 750/761 635/645
13/09/2021 535/550 737/745 630/636
11/09/2021 530/547 735/745 630/635
10/09/2021 530/547 735/745 630/635
09/09/2021 528/538 730/738 625/630
08/09/2021 525/531 718/730 616/625

Central Bank of Nigeria’s Official Naira Rates

N.B: These tables are updated three times a day.

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