The exchange rate between the British Pound (GBP) and the Nigerian Naira (NGN) continues to fluctuate in the parallel market due to economic factors and forex demand. As of today, 29th January 2025, the pounds to naira black market exchange rate is as follows:
- Buying Rate: ₦2,070.00 per £1
- Selling Rate: ₦2,032.00 per £1
For the latest forex updates, visit Investors King and Bloomberg to stay informed about daily currency trends.
How Much is Pounds to Naira Today in Black Market?
The black market exchange rate plays a crucial role in Nigeria’s forex transactions, especially for businesses, travelers, and individuals dealing in foreign currency. Today’s rate of ₦2,070 per pound (buying) and ₦2,032 per pound (selling) highlights the continued volatility in the forex market.
Factors Influencing the Pounds to Naira Exchange Rate
- Forex Demand and Supply: A higher demand for pounds in the parallel market often results in an appreciation of the currency against the naira.
- CBN Policies: The Central Bank of Nigeria (CBN) continues to implement policies aimed at stabilizing the naira, but the black market rate remains responsive to forex scarcity.
- Inflation and Economic Conditions: Rising inflation, interest rates, and economic policies influence the exchange rate between the pound and naira.
- Global Forex Trends: The performance of the British economy and international forex market dynamics also affect the GBP/NGN rate.
Where to Check the Latest Pounds to Naira Black Market Rate?
To stay updated on the latest pounds to naira black market exchange rates, visit:
- Investors King – Get reliable forex news, financial analysis, and exchange rate updates.
- Naira Today – Track daily GBP/NGN exchange rate movements in Nigeria’s parallel market.
Final Thoughts
With the pound to naira black market exchange rate fluctuating, staying informed is essential for individuals and businesses involved in forex transactions. For real-time exchange rates and expert financial insights, visit Investors King and Naira Today to make well-informed financial decisions.