For those of us who might be interested in knowing daily currency exchange rate of the Naira to Dollar, Naira to Euro, Naira to pounds on both official bank rates and the black market , can get it here.
Subsequent update of this post will come via the comments.
Naira experiences its biggest daily depreciation against the dollar as it exchanged for N345 to a dollar in the black market today. This is N20 depreciation when compared with the closing exchange rate of N325 per dollar in the parallel market on Friday, 12th February.
Naira also depreciated by N45 against the British pound as the black market exchange rate rose to N485 per pound, N340 as on Friday.
However, naira remains relatively same at the official interbank foreign exchange market as the interbank rate (official exchange rate of naira to dollar) stood at N197.47 per dollar at the close of business yesterday, 15th February.
The gap between the interbank rate and the black market rate deepens to N147.53 per dollar from N127.53 per dollar last week.
It has been noted that the naira has been on a steady decline since January 12, 2016, when the Central Bank of Nigeria, CBN, stopped weekly dollar sale to BDCs. Consequent to this action, the naira traded at N265 per dollar in the black market. The steady depreciation was also compounded by inability of the CBN to meet foreign exchange demand.
Here is the dollar to naira exchange rate – black market today and official exchange rate (interbank rate).
DOLLAR TO NAIRA EXCHANGE RATE-BLACK MARKET
NAIRA DOLLAR POUND EURO
(NGN) (USD) (GBP) (EUR)
Buy / Sell Buy / Sell Buy / Sell
12/02/2016 330 / 335 446 / 452 350 / 360
15/02/2016 337 / 340 450 / 455 365 / 370
16/02/2016 345 / 350 465 / 470 367 / 375
UPDATED: For the latest and every other day naira to dollar exchange rate changes for black or parallel market , check the comment box below.
SEND THROUGH: WESTERN UNION TRANSFER
NAIRA DOLLAR POUND EURO
(NGN) (USD) (GBP) (EUR)
12/02/2016 193.83 286.71 217.97
15/02/2016 193.83 285.57 216.19
16/02/2016 193.83 284.90 215.69
UPDATED: For every other day naira to dollar exchange rate changes – sending money via western union, check comment box below.
CBN EXCHANGE RATES (INTERBANK RATE )
NAIRA DOLLAR POUND EURO
(NGN) (USD) (GBP) (EUR)
12/02/2016 197.00 286.46 222.26
15/02/2016 197.00 285.00 220.56
For questions and comments on black market naira to dollar exchange rate today, you can use the comment box below.