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

Naira has gained massively at the black market with euro, pounds and dollar falling.

Newsone reports that 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 by Newsone Nigeria at the Bureau De Change (BDC) market in Ogba area of Lagos, Nigeria’s commercial city, on Thursday morning, December 23, 2021, showed that the naira to usd exchanged at N565/$1, gaining N5 from the N570 position of 1 dollars to naira it started the week with though still poor compared to when usd to naira exchanged for N530/$1.

Naira to dollar gains at Black market (parallel market) 

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

Newsone Nigeria reports that at the black market, the players buy a dollar for N560 and sell for N565 on Thursday morning, December 23, 2021 after they bought N565 and sold for N570 on Wednesday morning, December 22, 2021.

Meanwhile, Newsone Nigeria reports that this is coming months after the Central Bank of Nigeria (CBN) had on July 27, 2021, suspended foreign exchange (forex) sales to BDC operators and directed all those with a genuine need for forex to revert to banks. The naira lost value at a whooping N85 to the dollar in less than two months from N490/$1 to N575/$1 on September 20.

Even though the dollar to naira opened in the parallel market at ₦565 per $1, Newsone reports that the Central Bank of Nigeria (CBN) does not recognise the parallel market, otherwise known as the black market. The apex bank has therefore directed anyone who requires forex to approach their bank, insisting that the I&E window is the only known exchange.

Euro and Pounds fall as Naira gains massively at black market

Newsone reports that part from gaining against dollar, the Nigerian naira also enjoyed massive gain against euro and pounds at the parallel market better known as the black market on Thursday morning.

This online news platform understands that the naira gained N25 against euro on Thursday morning. It also gained N30 against pounds on Thursday morning.

How much is euro to naira today in black market? (euro to naira black market today)

Newsone reports that the local currency opened at ₦605 per €1 at the parallel market otherwise known 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. Th is represents a change of N5 from the previous day.

I want to sell euro and I want to buy euro: I want to change naira to euro how much is it?

Newsone reports that in the black market, the players buy euro for ₦600 and sell for ₦605 on Thursday morning, December 23, 2021, after they bought ₦630 and sold for ₦635 on Wedesday morning, December 22.

How much is pounds to naira today in black market? (pounds to naira black market today)

Newsone reports that the local currency opened at ₦705 per £1 at the parallel market otherwise known 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 change of N30 from the previous day.

I want to sell pounds and I want to buy pounds: I want to change naira to pounds how much is it?

Newsone reports that in the black market, the players buy pounds for ₦700 and sell for ₦705 on Thursday morning, December 23, 2021, after they bought ₦730 and sold for ₦735 on Wednesday morning, December 22.

Disclaimer: NEWSONE NIGERIA does not set or determine forex rates. The official NAFEX rates are obtained from the website of the FMDQOTC. Parallel market rates (black market rates) are obtained from various sources including online media outlets. The rates you buy or sell forex may be different from what is captured in this article.