Nigerian Naira Exchange Rates Today, Wednesday, July 14, 2021

Economic uncertainty continues to weigh on Nigerian Naira as dollar scarcity remained across key foreign exchange markets on Wednesday.

The Naira remained under pressure at the parallel market, known as the black market, on Monday as it was exchanged at a record-low of N505 to a United States Dollar. While against the British Pound and the Euro, the local currency at N708 and N596, respectively.

At the bureau de change section, the Naira traded at N500 to a United States Dollar. At the same forex window, it exchanged at N710 and N595 to a British Pound and Euro.

The Central Bank of Nigeria’s inability to service the economy with enough dollar drag on liquidity level and activities at large as manufacturers and import-dependent businesses continue to struggle. Wide foreign exchange rates have escalated prices in Africa’s largest economy and push inflow to a record-high despite efforts to rein in prices and stimulate growth.

Naira Black Market Exchange Rates

Morning * Midday** Evening *** Final Rates

Bureau De Change Naira Rates

Central Bank of Nigeria’s Official Naira Rates