Pound Sterling to Naira, Euro to Naira and US Dollar to Naira Parallel Market Exchange rates today.
The parallel market exchanges rates sometimes refered to as "black market exchange rates" or popularly refered to as "Aboki rate" in Nigeria; means the unofficial exchange rates used in a parallel market / black market for foreign currency trading.
Parallel / black market exchange rates is typically different from the official exchange rate set by the government or financial institutions.
Most times trading currencies on the black market is carried out by P2P (Peer-To-Peer) trading and the black market exchange rates are determined by supply and demand dynamics outside the regular channels - the government or financial institutions, and it is often higher or lower than the official exchange rates.
People turn to the black market when they want to buy or sell currencies at exchange rates different from the official exchange rates.
In this space, notably we will be talking about the relationship between other foreign currencies against the Naira, and also showing the exchange rates of these foreign currencies against the Naira.
The black market exchange rates provided here are updated on a daily basis, sourced directly from our vendors exchange rate tables.
US Dollar to Naira exchange rates today.
Currently, today 08 Sep 2024 the average exchange rate for the US dollar stands at 1460 Naira for traders buying US dollars from our vendors, while it averages at 1420 Naira for traders selling US dollars to our vendors.
This means the exchange rate for $1, US Dollar to Naira today on the parallel / black market stands at 1420 Naira, today 08 Sep 2024.
This also means that if you have US dollars to sell, it is likely that you will be able to sell to our vendors at the exchange rate of 1420 Naira.
On the other hand, if you want to buy US Dollars, you are likely to buy from our vendors at the exchange rate of 1460 Naira.
| Assets | Buy rates | Sell rates | Date | Vendor |
|---|---|---|---|---|
| USD | 1420 | 1460 | 07 Feb 2024 | Emma |
The exchange rate between the US Dollar and Naira is highly unstable, fluctuating frequently and causing the Naira to lose its value.
This instability leads to increased expenses for Nigerians purchasing goods and services in international markets.
The relationship between the two currencies has been unpredictable since 1986, resulting in a poorer economy for Nigeria.
However, some individuals have managed to benefit from the weaknesses of the Naira and profit from it.
The question remains whether a flexible exchange rate and devaluation of the Naira can ultimately resolve the problem of its instability.
In conclusion the unpredictable relationship between the Naira and the US dollar and the implications of unstable US Dollar to Naira is multifaceted, affecting various aspects of Nigeria's economy.
Euro to Naira exchange rates today.
Currently, today 08 Sep 2024 the average exchange rate for the euro stands at 1555 Naira for traders buying euros from our vendors, while it averages at 1525 Naira for traders selling euros to our vendors.
This means the exchange rate for €1, Euro to Naira on the parallel / black market stands at 1525 Naira, today 08 Sep 2024.
This also means that if you have euro to sell, it is likely that you will be able to sell to our vendors at a rate of 1525 Naira.
On the other hand, if you want to buy Euros, you are likely to buy from our vendors at the exchange rate of 1555 Naira.
| Assets | Buy rates | Sell rates | Date | Vendor |
|---|---|---|---|---|
| EUR | 1525 | 1555 | 07 Feb 2024 | Emma |
The Relationship Between The Euro and The Naira
Like the US Dollar and Pound Sterling, the relationship between the Euro and the Naira is primarily determined by the foreign exchange market, where currencies are bought and sold.
The Euro, being the official currency of the Eurozone consisting of 19 European countries, is widely traded and has a significant impact on global financial markets.
In the context of the Naira, the Euro serves as one of the major foreign currencies for international trade and financial transactions.
The exchange rate between the Euro and the Naira represents the value at which one currency can be exchanged for the other.
Fluctuations in this exchange rate have implications for various economic sectors and individuals engaged in cross-border transactions.
Pound Sterling to Naira exchange rates today.
Currently, today 08 Sep 2024 the average exchange rates for the Pound Sterling stands at 1745 Naira for traders buying Pound sterling from our vendors, while it averages at 1725 Naira for traders selling Pound Sterling to our vendors.
This means the exchange rate for £1, Pound sterling to Naira on the parallel / black market stands at 1725 Naira, today 08 Sep 2024.
This also means - if you have the British Pound Sterling to sell, it is likely that you will be able to sell to our vendors at the exchange rate of 1725 Naira.
On the other hand, if you want to buy Pound Sterling, you are likely to buy from our vendors at the exchange rate of 1745 Naira.
| Assets | Buy rates | Sell rates | Date | Vendor |
|---|---|---|---|---|
| GBP | 1725 | 1745 | 07 Feb 2024 | Emma |
Relationship Between The Pound Sterling and The Naira
Learning about the relationship between the Naira and the Pound Sterling provides better knowledge and more understanding of the instability and relationship of the Naira against the Pound Sterling and how it impacts the Nigerian economy, individuals and businesses who rely on international trade.
Various assets to Naira exchange rates today.
Here we have the the US dollar, Pound Sterling, Euro, Yuan, Yen, Repee, USDT, Bitcoin, Litecoin, Gift Cards and other assets exchange rates to the Naira.
| Assets | Buy rates | Sell rates | Date | Vendor |
|---|---|---|---|---|
| USD | 1420 | 1460 | 07 Feb 2024 | Emma |
| GBP | 1725 | 1745 | 07 Feb 2024 | Emma |
| EUR | 1525 | 1555 | 07 Feb 2024 | Emma |
| ebay gift cards | 480 | Sell Rate | 30 Jun 2023 | Anibo |
| razar gold gift cards | 520 | Sell Rate | 30 Jun 2023 | Anibo |
| RAZER GOLD | 600/USD 550/EURO | Not Selling | 15 Aug 2023 | RIZALI |
| STEAM | 650/USD and 720/EURO Or 825/GBP | Not Selling | 15 Aug 2023 | RIZALI |
| AMAZON | 515/USD OR 600/GBP | Not Selling | 14 Aug 2023 | RIZALI |
| usdt | Buy Rate | Sell Rate | 05 Jun 2024 | Emma |
| btc | Buy Rate | Sell Rate | 05 Jun 2024 | Emma |