Naira remained largely unchanged against its global counterparts in the early hours of Monday, 16 August 2021. However, the local currency remained near record lows against foreign currencies as dollar scarcity persists across key foreign exchange segments.

The local currency was exchanged at N515 to a United States Dollar on Friday at the unregulated parallel market known as the black market. Against, the British Pound and Euro common currency, the Naira traded at N705 and N600, respectively.

At the bureau de change section, Naira traded at N513 to United States Dollar, N700 to a British Pound and N600 to a Euro following the Central Bank of Nigeria’s decision to cut forex supply to that section of the forex market.

Nigeria’s dwindling foreign reserves amid rising demand for forex across key economic sectors continue to drag on the central bank’s ability to service Africa’s largest economy. Other factors like the rising unemployment rate, high inflation rate, almost zero new job creation and unclear economic direction have compounded Nigeria’s economic woes and subsequently, weigh on Naira’s outlook. See the other exchange rates below.

Naira Black Market Exchange Rates

Morning * Midday** Evening *** Final Rates

Bureau De Change Naira Rates

Central Bank of Nigeria’s Official Naira Rates

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