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British Pound Extends Decline as 44 British Lawmakers Resigns

British Pound sustained its decline against the United States Dollar and other global counterparts on Wednesday after five additional British lawmakers resigned their positions in protest against a series of scandals rocking the House of Commons in recent weeks.

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British Pound sustained its decline against the United States Dollar and other global counterparts on Wednesday after five additional British lawmakers resigned their positions in protest against a series of scandals rocking the House of Commons in recent weeks.

A total of 44 British lawmakers have resigned under Prime Minister Boris Johnson’s leadership, accusing the Prime Minister of engaging in or condoning actions that put parliament moral in question.

Against the American Dollar, Great Britain Pounds (GBP) dropped from 1.2164 it peaked on Monday to 1.1934 in the early hours of Thursday.

While against the Japanese Yen, one of the world’s safe-haven currencies, GBP exchanged at 162.02, down from 165.26 it traded on Tuesday.

The decline was broad-based as the embattled GBP also lost some ground against the Swiss Franc to exchange at 1.1568, down from about 1.1687 on Tuesday.

On Wednesday,  five lawmakers signed in one go. In their letter, they said “It has become increasingly clear that the Government cannot function given the issues that have come to light and the way in which they have been handled,” they wrote.

Selaine Saxby, Claire Coutinho and David Johnston were the latest lawmakers to tender their resignation on Wednesday.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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British Pound Gives Back Early Gains as Boris Johnson Resigns

British Pound lost its early gains against the United States Dollar after Prime Minister Boris Johnson resigned on Thursday.

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Boris Johnson

British Pound lost its early gains against the United States Dollar after Prime Minister Boris Johnson resigned on Thursday.

The pound had earlier rose to 1.2023 against the United States Dollar before shedding part of those gains to 1.1967 shortly after Prime Minister announced his resignation.

Boris Johnson has been under heavy pressure from his own party to resign for involving in what most termed as too many scandals.

To force the prime minister out of office, 44 lawmakers resigned this week, saying the minister had put all lawmakers moral under scruitining and in question.

“Treading a tightrope between loyalty and integrity has become impossible in recent months,” said Savid Javid, the United Kingdom’s former health secretary, in his resignation speech Wednesday in the House of Commons. “Now this week, again, we have reason to question the truth and integrity of what we’ve all been told. And at some point, we have to conclude that enough is enough.”

Speaking on his resignation, Johnson said he will remain in office until his party, Conservative Party, chooses a new leader, who will then take over.

“Of course, it is painful to not to be able to see through so many ideas and projects,” Johnson said in front of the door of No. 10 Downing St. in London, as loud crowds could be heard nearby. “But as we have seen at Westminster, the herd instinct is powerful and when the herd moves, it moves.”

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Daily Naira Exchange Rates; Thursday, January 07, 2021

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Naira Remains under pressure

Daily Naira Exchange Rates; Thursday, January 07, 2021

Naira exchanged at N470 against the United States Dollar on Thursday, January 07, 2021. The British Pound was sold at N628 while the Euro traded at N670 in the early hours of the day.

Daily 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
07/01/2021 465/470 620/628 565/573 60/70 365/378 245/293
06/01/2021 465/470 620/628 565/573 60/70 365/378 245/293
05/01/2021 465/470 620/628 565/572 60/70 365/378 245/293
04/01/2021 465/470 620/628 565/572 60/70 365/378 245/293
31/12/2020 465/470 620/628 567/573 60/70 365/378 245/293
30/12/2020 465/470 620/628 567/573 60/70 365/378 245/293
29/12/2020 465/470 620/628 565/573 60/70 365/378 245/293
28/12/2020 460/465 615/625 560/570 60/70 350/367 245/293
25/12/2020 460/465 615/625 560/570 60/70 350/367 245/293
24/12/2020 460/465 615/625 560/570 60/70 350/367 245/293
23/12/2020 470/475 622/632 575/580 60/70 350/367 245/293
22/12/2020 472/476 622/630 570/578 60/70 340/362 250/295
21/12/2020 472/476 622/632 570/580 55/68 340/362 250/295
18/12/2020 472/477 622/630 570/577 55/68 340/362 250/295
17/12/2020 472/478 623/633 570/577 55/68 340/362 250/295
16/12/2020 472/476 620/627 570/576 55/68 340/362 250/295

 Bureau De Change Naira Rates

Date USD GBP EURO
NGN BUY/SELL BUY/SELL BUY/SELL
07/01/2020 460/470 615/623 550/570
06/01/2020 460/470 610/623 550/572
05/01/2020 460/470 615/624 550/572
04/01/2020 460/470 615/624 550/572
31/12/2020 460/470 600/626 550/573
30/12/2020 460/470 600/626 550/573
29/12/2020 455/475 600/626 550/573
28/12/2020 455/475 605/628 555/573
25/12/2020 455/475 600/628 550/575
24/12/2020 455/474 600/628 555/575
23/12/2020 460/475 621/632 568/580
22/12/2020 470/475 620/631 568/577
21/12/2020 470/475 620/631 568/577
18/12/2020 460/475 620/630 568/577
17/12/2020 460/475 618/633 565/580
16/12/2020 460/480 618/633 565/580

 Central Bank of Nigeria (CBN) Official Exchange Rates

Date Currency Buying(NGN) Central(NGN) Selling(NGN)
1/6/2021 US DOLLAR 379 379.5 380
1/6/2021 POUNDS STERLING 517.2592 517.9416 518.624
1/6/2021 EURO 467.7618 468.3789 468.996
1/6/2021 SWISS FRANC 432.5496 433.1203 433.6909
1/6/2021 YEN 3.6871 3.692 3.6969
1/6/2021 CFA 0.6914 0.7014 0.7114
1/6/2021 WAUA 548.3651 549.0886 549.812
1/6/2021 YUAN/RENMINBI 58.7224 58.8003 58.8782
1/6/2021 RIYAL 101.0289 101.1622 101.2955
1/6/2021 SOUTH AFRICAN RAND 25.3087 25.3421 25.3755

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Daily Naira Exchange Rates; Thursday, December 31, 2020

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Naira Notes - Investors King

Daily Naira Exchange Rates; Thursday, December 31, 2020

Daily Naira Black Market Exchange Rates

Morning * Midday** Evening ***

Date USD GBP EURO YUAN Canadian Australian
NGN BUY/SELL BUY/SELL BUY/SELL BUY/SELL BUY/SELL BUY/SELL
31/12/2020 465/470 620/628 567/573 60/70 365/378 245/293
30/12/2020 465/470 620/628 567/573 60/70 365/378 245/293
29/12/2020 465/470 620/628 565/573 60/70 365/378 245/293
28/12/2020 460/465 615/625 560/570 60/70 350/367 245/293
25/12/2020 460/465 615/625 560/570 60/70 350/367 245/293
24/12/2020 460/465 615/625 560/570 60/70 350/367 245/293
23/12/2020 470/475 622/632 575/580 60/70 350/367 245/293
22/12/2020 472/476 622/630 570/578 60/70 340/362 250/295
21/12/2020 472/476 622/632 570/580 55/68 340/362 250/295
18/12/2020 472/477 622/630 570/577 55/68 340/362 250/295
17/12/2020 472/478 623/633 570/577 55/68 340/362 250/295
16/12/2020 472/476 620/627 570/576 55/68 340/362 250/295

Bureau De Change Naira Rates

Date USD GBP EURO
NGN BUY/SELL BUY/SELL BUY/SELL
31/12/2020 460/470 600/626 550/573
30/12/2020 460/470 600/626 550/573
29/12/2020 455/475 600/626 550/573
28/12/2020 455/475 605/628 555/573
25/12/2020 455/475 600/628 550/575
24/12/2020 455/474 600/628 555/575
23/12/2020 460/475 621/632 568/580
22/12/2020 470/475 620/631 568/577
21/12/2020 470/475 620/631 568/577
18/12/2020 460/475 620/630 568/577
17/12/2020 460/475 618/633 565/580
16/12/2020 460/480 618/633 565/580

Central Bank of Nigeria (CBN) Official Naira Exchange Rates

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