The opening indicative rate was N392.66 to a dollar on Friday. Despite the CBN intervention, the huge demand backlog by manufacturers and foreign investors still puts pressure and creates a volatile situation in the foreign exchange market. Sell: ₦ 1 = € 0.00175; Buy: ₦ 1 = € 0.00172; Previous Day Comparison. Learn how your comment data is processed. Compare us to your bank Send money with TransferWise. Currency converter The converter shows the conversion of 1 euro to Nigerian naira as of Tuesday, 24 November 2020. 1 EUR = 453 NGN. See table below for parallel market exchange rate dating to 2019. The black market exchange rate for 1 NGN Nigeria to USD $ is also referred to as the parallel market rate. It is the second largest and second most traded currency after the United States dollar. READ: Airtel earmarks a total interim dividend of $56 million for shareholders. ll 【€1 = ₦459.358】 euro to Nigerian naira rate today. Not just the death but obituary and funeral of Naira. NAFEX: The Naira remained stable against the dollar at the Investors and Exporters (I&E) window on Monday, closing at N394/$1. You also can click the currency name to view the exchange rates of this currency converting to other currencies. CBN Exchange Rate Of Euro to Naira Today, December 2020 . Okay Victor. This represents an N3 gain when compared to the N393.25/$1 that it exchanged for on Thursday, November 26. This is an obligation of manufacturers to their foreign suppliers that continues to increase in the face of dollar shortages. Get daily black market exchange rates from dollar to naira, pounds to naira and euro to naira. The euro is the official currency of the European Union and its territories. The Naira’s exchange rate at the NAFEX window remained stable against the dollar to close at N394/$1. This exchange rate is ridiculous, to say the least I mean how would you justify such an Fx rate? Thanks ! Please note that Black market exchange rate is different from official market rate, the margin difference is usually large. The opening indicative rate was N388.70 to a dollar on Friday. This makes it -0.04% decline for United States Dollar against Naira this week.. The exchange rate of Euro to Naira today in the parallel market other wise known as black market is: N560 per one euro – Buy Rate; N570 per One euro – Sell Rate; While the exchange rate of Naira to Euro today in parallel market is € per One Naira. Euro to Naira Exchange Rate in Black Market Today October 2016 (Updated Daily N515 to 1 Euro >Buying Rate N522 to 1 Euro > Selling Rate. Change: € -0.000009 % Change: -0.52% Forex turnover dropped by 52.2%, as the Naira’s exchange rate at the NAFEX window appreciated against the dollar to close at N390.25/$1 during intra-day trading on Friday, November 27. Published. The rate had also closed at ₦565/€1 on Monday, December 14th 2020. However, the exchange rate against the dollar has remained volatile after the initial gains made, following the CBN’s resumption of sales of dollars to the BDCs. Dollar To Naira. Buying @ 1 Euro = 447.03 Naira; Selling @ 1 Euro = 448.21 Naira; Naira to Euro CBN Rate. Some members of MPC of the CBN have expressed serious concerns over the increasing demand pressure in the country’s foreign exchange market. Forex turnover rose significantly by 180.6% on a record dollar supply, as the Naira’s exchange rate at the NAFEX window appreciated against the dollar to close at N394.00/$1 during intra-day trading on Thursday, December 10. The most trusted platform to get the live exchange rates. This week on Black Market. The countries that make use of the Euro currency include; Austria, Belgium, Germany, France, Finland, Estonia, Italy, Greece, Malta, Portugal, Netherlands, Spain, Slovakia, Slovenia, Luxembourg, etc. The CBN official exchange rate of the Euro to Naira today is:. The exchange rate is still being affected by low oil prices, dollar scarcity, a backlog of forex demand, and a shaky economy that has been hit by the coronavirus pandemic. By Adedapo Adesanya The local currency came under pressure against the British Pound Sterling and the Euro at the black market yesterday, causing the Naira to lose value against the two foreign currencies. This is as the Naira hit a record low of N600/$1 on the futures for 5-year settlement on Friday, as the severity of forex scarcity becomes more intense, according to a report from Reuters. You may contact him via his email- [email protected]. Things are now so expensive that even Toyoya Camry 2010 that used to be N2.5million is now N3.5million. The official rate of the US Dollar $ to Naira according to CBN is N361. There are so many reasons behind this decline in the exchange rate of the Naira. The price quoted daily on this page represents the average price obtained by our Research Team. This represents a N1 gain when compared to the N476/$1 that it exchanged for on Friday, December 9. Some members of MPC of the CBN had expressed serious concerns over the increasing demand pressure in the country’s foreign exchange market. The supply of dollars has been on a decline for months due to low oil prices and the absence of foreign capital inflow into the country. Lagos dollar to naira black market rate today. The Dollar To Naira Black Market exchange rate is pegged at an exchange rate of N305.5 per $1 had been at what could be described as freefall in the black market. However with this increase in prices of commodity and with the way Naira is depreciating, Salaries in Nigeria remain the same and at worst, companies are cutting down expenses and laying off their staffs as things get harder. This was expected to inject more liquidity into the retail end of the foreign exchange market and discourage hoarding and speculation. Euro to Nigerian Naira Conversion Last updated: 2020-12-07 20:02 UTC All figures are live mid-market rates, which are not available to consumers and are for informational purposes only. This is to boost the supply of dollars in the foreign exchange market and reduce the high demand for forex by traders. This represents a 13 kobo drop when compared to the N392.79 that was recorded on Wednesday. (READ MORE: Naira strengthens at forex market as CBN intervenes in the market) This represents an N5 drop when compared to the N495/$1 that it exchanged for on Thursday, November 26. The Nigerian NAIRA foreign exchange rate has been on the decline at an alarming rate. When we look at this month, USD was traded at ₦495 at the beginning of this December on Tuesday, December 1, 2020. However, this movement was a wrong one as it depreciated by N2 or 0.43 per cent to settle at N465/$1 in contrast to N463/$1 it … It is very clear that hardship is gripping this nation called Nigeria. The N408.84 to a dollar was the highest rate during intra-day trading before, it still closed at N394 to a dollar. Enter your email address to subscribe to this blog and receive notifications of new posts by email. Also, the Naira appreciated marginally against the dollar, closing at N475/$1 at the parallel market on Friday, December 11, 2020, as the CBN’s intervention continues on a record dollar supply. The exchange rate between the naira and the European euro stands at ₦565/€1 on Tuesday December 15th 2020. A: One Euro is worth 460.8462 Nigerian Naira today Q: Is the Euro going up or down against the Nigerian Naira? googletag.pubads().definePassback('/42150330/nairametrics/Nairametrics_incontent_new', [300, 250]).set("page_url", "%%PATTERN:url%%").setClickUrl("%%CLICK_URL_UNESC%%").display(); Get the scoops and market intelligence that can helpyou make better investment decisions right in yourmailbox. Data is collated from various black market dealers on the mainland and island parts of Lagos State where forex is sold. This page shows the exchange rate of Nigerian Naira (NGN) To Euro (EUR) on 31 Dec 2015 (31/12/2015).If you would like to view the current exchange rate of the currency pair, please visit Nigerian Naira (NGN) To Euro (EUR) Exchange Rates Today. Parallel market: According to information from Abokifx – a prominent FX tracking website, at the black market where forex is traded unofficially, the Naira appreciated against the dollar to close at N475/$1 on Friday. This corresponds to 0.21% fall compared to previous day. So if you want information on one Euro to naira now, you‘ll find accurate information on this page and I am starting by answering our question straight up. The code for the Naira is simply written as NGN. This is a daily tracker and updated close of business. (READ MORE: Naira strengthens at forex market as CBN intervenes in the market). Naira today bank rate aboki get daily naira to dollar euro pound euro to naira exchange rate see black market exchange rates 1 usd to naira brl qar jpy eur TransferWise gives you the real, mid-market, exchange rate, so you can make huge savings on international transfers. READ: Naira gains across forex markets as banks start payment of remittances in dollars, The World Bank had said that steps taken by Nigeria to unify its multiple exchange rates have not been enough according to Bloomberg. The rate had also closed at ₦615/₤1 on Monday, December 14th 2020. If your Bureau de exchange rate goes below the sell rate here or above the buy rate here, don’t do the … Rate between the Naira just the death but obituary and funeral of affects. Remittances – Emefiele December 7, 2020 which is the currency name to view the rate. Movement against the dollar to close at N394/ $ 1 at the BDCs and black market and CBN ) attribute. 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