Naira: 458/$, 540/Euro, 595/£ in black market



Naira yesterday took a dramatic somersault in the black market yesterday, when it was sold at N458 per dollar, N540 per Euro and N595 per pound.

Meanwhile, in  the Investors and Exports Window, Naira was sold at N386 per dollar.

Data from FMDQ showed that the indicative exchange rate for the window rose to N386 per dollar yesterday from N385.80 per dollar last week Friday, translating to 20 kobo depreciation of the naira.

The volume of dollars (turnover) traded in the window increased sharply by 65 percent to  $36.24 million from $102.02 million last week Friday. 

However, the naira yesterday appreciated by  four  in the parallel market. According to naijabdcs.com, the live exchange rate platform of the Association of Bureaux De Change Operators of Nigeria (ABCON), the parallel market exchange rate dropped to N458 per dollar from N462 per dollar last week Friday, indicating four naira appreciation of the Naira.

Black Market Exchange Rates

CurrencySell RateChangeDate
USD₦ 458-1.51%05/10/2020
EUR₦ 540-0.92%05/10/2020
GBP₦ 595-0.83%05/10/2020
CAD₦ 3250.00%05/10/2020
ZAR₦ 280.00%05/10/2020
GHS₦ 7710.00%05/10/2020
RMB₦ 600.00%05/10/2020
XOF₦ 0.8310.67%05/10/2020
XAF₦ 0.746.47%05/10/2020
AED₦ 1220.00%05/10/2020
  • Black Market (Lagos) exchange rates for Naira today are
    • Sell rates: USD ₦ 458, EUR ₦ 540, GBP ₦ 595, CAD ₦ 325, ZAR ₦ 28, GHS ₦ 77, RMB ₦ 60, XOF ₦ 0.83, XAF ₦ 0.74, and AED ₦ 122
    • Buy rates: USD ₦ 450, EUR ₦ 530, GBP ₦ 585, CAD ₦ 305, ZAR ₦ 18, GHS ₦ 67, RMB ₦ 45, XOF ₦ 0.77, XAF ₦ 0.65, and AED ₦ 98
  • Today on Black Market (Lagos)
    • Top rising exchange rate is West African CFA Franc to Naira having a ₦ 80 rise reaching ₦ 0.83 as of 05/10/2020. This corresponds to 10.67% rise compared to previous day.
    • Top losing exchange rate is Dollar to Naira having a ₦ 7 fall to ₦ 458.00 as of 05/10/2020. This corresponds to 1.51% fall compared to previous day.
  • This week on Black Market
    • Top rising exchange rate is West African CFA Franc to Naira having a ₦ 0.08 rise from ₦ 0.75 on 28/09/2020 to ₦ 0.83 as of 05/10/2020. This corresponds to 10.67% rise since the beginning of last week.
    • Top losing exchange rate is Dollar to Naira having a ₦ 9 fall from ₦ 467.00 on 28/09/2020 to ₦ 458.00 as of 05/10/2020. This corresponds to 1.93% fall since the beginning of last week.
  • This month on Black Market
    • Top rising exchange rate is Central African CFA Franc to Naira having a ₦ 0.06 rise from ₦ 0.68 on 01/09/2020 to ₦ 0.74 as of 05/10/2020. This corresponds to 8.82% rise this month so far.
    • Top losing exchange rate is Chinese Yuan Renminbi to Naira having a ₦ 10 fall from ₦ 70.00 on 01/09/2020 to ₦ 60.00 as of 05/10/2020. This corresponds to 14.29% fall this month so far.

Comments

  1. Tradenaira24 January 2021 at 09:35

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