Currencies

Naira Gains Massively At Black Market As Pounds, Euro, Dollar Fall

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Naira Gains Massively At Black Market As Pounds, Euro, Dollar Fall

The Nigerian official currency, Naira has gained against the United States dollar, exchanging at N565/$1 after opening the week at N570 per dollar on Monday, December 20, 2021.

A survey conducted at the Bureau De Change (BDC) market in Ogba part of Lagos, Nigeria’s commercial city, on Thursday morning, December 23, 2021, indicated that the naira to USD exchanged at N565/$1, gaining N5 from the N570 position of 1 dollar to naira it started the week with though still poor in comparison to when USD to naira exchanged for N530/$1.

The exchange rate involving the naira to dollar and dollar to naira on Thursday morning, December 23, indicated that the Nigerian official currency, Naira has gained contrary to the United States dollar days after it opened the week on the rise which found it exchanging at N570 per dollar on Monday, December 20, 2021.

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At the black market, the exchangers buy a buck for N560 and sell for N565 on Thursday morning, December 23, 2021, when they bought N565 and sold for N570 on Wednesday morning, December 22, 2021.

Meanwhile, this really is coming months following the Central Bank of Nigeria (CBN) had on July 27, 2021, suspended foreign exchange (forex) sales to BDC operators and directed all people that have an authentic significance of forex to revert to banks. The naira lost value at a whooping N85 to the dollar within just 8 weeks from N490/$1 to N575/$1 on September 20.

Even although dollar to naira opened in the parallel market at ₦565 per $1, that the Central Bank of Nigeria (CBN) doesn’t recognize the parallel market, otherwise referred to as the black market. The apex bank has therefore directed anybody who requires forex to approach their bank, insisting that the I&E window is the sole known exchange.

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Apart from gaining against the dollar, the Nigerian naira also enjoyed massive gain against the euro and pounds at the parallel market better referred to as the black market on Thursday morning.

This online news platform understands that the naira gained N25 against euro on Thursday morning. Additionally, it gained N30 against pounds on Thursday morning.
Just how much is euro to naira today in black market? (euro to naira black market today)

Euro currency opened at ₦605 per €1 at the parallel market otherwise referred to as the black market, today, Thursday, 23 December 2021, in Lagos Nigeria, after it closed at ₦635.00 per €1 on Wednesday, 22 December 2021. This represents a big change of N5 from the prior day.
I wish to sell euro and I wish to buy euro: I wish to change naira to euro just how much could it be?

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In the black market, the exchangers buy euro for ₦600 and sell for ₦605 on Thursday morning, December 23, 2021, when they bought ₦630 and sold for ₦635 on Wednesday morning, December 22.
Just how much is Pounds to naira today in the black market? (pounds to naira black market today)

Pounds currency opened at ₦705 per £1 at the parallel market otherwise referred to as the black market, today, Thursday, 23 December 2021, in Lagos Nigeria, after it closed at ₦735.00 on Wednesday, 22 December 2021. This represents a big change of N30 from the prior day.

I wish to sell pounds and I wish to buy pounds: I wish to change naira to pounds just how much could it be?

In the black market, the exchangers buy pounds for ₦700 and sell for ₦705 on Thursday morning, December 23, 2021, when they bought ₦730 and sold for ₦735 on Wednesday morning, December 22.

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