Connect with us
nairametrics
UBA ads

Naira Exchange Rate

Naira slumps further against US Dollar at ₦412/$1

Naira continues on its downward slide against major currencies of the world as it dipped further against the US dollar to stand at an average of $1/N412.

Published

on

Parallel market: Naira retains value against US Dollar at $1/N375

Naira continues its slide against major currencies of the world as it dipped further against the US dollar to stand at N412/$1.

The currency also depreciated against the Pounds Sterling as it currently costs ₤1/₦492 for sellers and ₤1/₦497 for customers buying. The US dollar is bought at the parallel market for $1/₦402 and sells for an average of $1/₦412 while Euro is bought for €1/₦410 and sold for €1/₦415.

UBA ADS

READ ALSO: CBN condemns receiving foreign currency in transfers

DateCurrencyBuy(AM)Sell(AM)Buy(PM)Sell(PM)Volatility
4/6/2020Pounds492497492497Low
4/6/2020Dollar402412402412Low
4/6/2020Euro410415410415Low
4/3/2020Pounds485490492497Low
4/3/2020Dollar400410402412Low
4/3/2020Euro410415410415Low
4/2/2020Pounds485490485490Low
4/2/2020Dollar400410400410Low
4/2/2020Euro410415410415Low
4/1/2020Pounds480485480485Low
4/1/2020Dollar395400395400Low
4/1/2020Euro407412407412Low
3/31/2020Pounds480485480485Low
3/31/2020Dollar395400395400Low
3/31/2020Euro407412407412Low
3/30/2020Pounds480485480485Low
3/30/2020Dollar390395395400Low
3/30/2020Euro407412407412Low
3/27/2020Pounds480485480485Low
3/27/2020Dollar385390390395Low
3/27/2020Euro405410407412Low
3/26/2020Pounds480485480485Low
3/26/2020Dollar385390385390Low
3/26/2020Euro405410405410Low
3/25/2020Pounds475480480485Low
3/25/2020Dollar380385385390Low
3/25/2020Euro400405405410Low
3/24/2020Pounds475480475480Low
3/24/2020Dollar380385380385Low
3/24/2020Euro400405400405Low
3/23/2020Pounds474478474478Low
3/23/2020Dollar380385380385Low
3/23/2020Euro400403400403Low
3/20/2020Pounds475480475480Low
3/20/2020Dollar370375365367Low
3/20/2020Euro395400395400Low
3/19/2020Pounds475480475480Low
3/19/2020Dollar370375370375Low
3/19/2020Euro395400395400Low
3/18/2020Pounds471475471475Low
3/18/2020Dollar370375370375Low
3/18/2020Euro390395390395Low
3/17/2020Pounds470475470475Low
3/17/2020Dollar375380375380Low
3/17/2020Euro400403400403Low
3/16/2020Pounds470475470475Low
3/16/2020Dollar370375370375Low
3/16/2020Euro400403400403Low
3/13/2020Pounds470475470475Low
3/13/2020Dollar372377372377Low
3/13/2020Euro400403400403Low
3/12/2020Pounds475485490495High
3/12/2020Dollar365380375404High
3/12/2020Euro405412410420Low
3/11/2020Pounds470475475485Low
3/11/2020Dollar360366365375Low
3/11/2020Euro387403405412Low
3/10/2020Pounds468472470475Low
3/10/2020Dollar358360360362Low
3/10/2020Euro390398387403Low
3/9/2020Pounds468472468472Low
3/9/2020Dollar358360358360Low
3/9/2020Euro392398392398Low
3/6/2020Pounds468472468472Low
3/6/2020Dollar358360358360Low
3/6/2020Euro390398390398Low
3/5/2020Pounds468472468472Low
3/5/2020Dollar358360358360Low
3/5/2020Euro390397390397Low
3/4/2020Pounds468473468473Low
3/4/2020Dollar358360358360Low
3/4/2020Euro387392387392Low
3/3/2020Pounds468472468472Low
3/3/2020Dollar358360358360Low
3/3/2020Euro387392387392Low
3/2/2020Pounds468472468472Low
3/2/2020Dollar358360358360Low
3/2/2020Euro387392387392Low
2/28/2020Pounds468472468472Low
2/28/2020Dollar358360358360Low
2/28/2020Euro387392387392Low
2/27/2020Pounds467471468472Low
2/27/2020Dollar358360358360Low
2/27/2020Euro386390387392Low
2/26/2020Pounds468472467471Low
2/26/2020Dollar358360358360Low
2/26/2020Euro386390386390Low
2/25/2020Pounds467472468472Low
2/25/2020Dollar358360358360Low
2/25/2020Euro388392386390Low
2/24/2020Pounds467472467472Low
2/24/2020Dollar358360358360Low
2/24/2020Euro388392388393Low
2/21/2020Pounds467473468473Low
2/21/2020Dollar358360358360Low
2/21/2020Euro388392388392Low
2/20/2020Pounds467473467473Low
2/20/2020Dollar358360358360Low
2/20/2020Euro388392388392Low
2/19/2020Pounds467473467473Low
2/19/2020Dollar358360358360Low
2/19/2020Euro390394390394Low
2/18/2020Pounds467473467473Low
2/18/2020Dollar358360358360Low
2/18/2020Euro390394390394Low
2/17/2020Pounds469473467474Low
2/17/2020Dollar358360358360Low
2/17/2020Euro390394390394Low
2/14/2020Pounds469473469473Low
2/14/2020Dollar358360358360Low
2/14/2020Euro390394390394Low
2/13/2020Pounds470475470475Low
2/13/2020Dollar358360358360Low
2/13/2020Euro390396390396Low
2/12/2020Pounds470475470475Low
2/12/2020Dollar358360358360Low
2/12/2020Euro390396390396Low
2/11/2020Pounds470475470475Low
2/11/2020Dollar358360358360Low
2/11/2020Euro390396390396Low
2/10/2020Pounds470475470475Low
2/10/2020Dollar358360358360Low
2/10/2020Euro390396390396Low
2/7/2020Pounds471475471475Low
2/7/2020Dollar358360358360Low
2/7/2020Euro390396392396Low
2/6/2020Pounds473476473476Low
2/6/2020Dollar358360358360Low
2/6/2020Euro392397392397Low
2/5/2020Pounds473476473476Low
2/5/2020Dollar358360358360Low
2/5/2020Euro393397393397Low
2/4/2020Pounds473476473476Low
2/4/2020Dollar358360358360Low
2/4/2020Euro393397393397Low
2/3/2020Pounds473476473476Low
2/3/2020Dollar358360358360Low
2/3/2020Euro393397393397Low
1/31/2020Pounds473476473476Low
1/31/2020Dollar358360358360Low
1/31/2020Euro393397393397Low
1/30/2020Pounds472478472476Low
1/30/2020Dollar358361358360Low
1/30/2020Euro394398394398Low
1/29/2020Pounds472476472476Low
1/29/2020Dollar358360358360Low
1/29/2020Euro394398394398Low
1/28/2020Pounds472476472476Low
1/28/2020Dollar358360358360Low
1/28/2020Euro394398394398Low
1/27/2020Pounds473476473476Low
1/27/2020Dollar358360358360Low
1/27/2020Euro394398394398Low
1/24/2020Pounds474478474478Low
1/24/2020Dollar358362358362Low
1/24/2020Euro395400395400Low
1/23/2020Pounds474478474478Low
1/23/2020Dollar358362358362Low
1/23/2020Euro395400395400Low
1/22/2020Pounds474478474478Low
1/22/2020Dollar359362359362Low
1/22/2020Euro394398394398Low
1/21/2020Pounds473477475479Low
1/21/2020Dollar360362359362Low
1/21/2020Euro395400395400Low
1/20/2020Pounds473477473477Low
1/20/2020Dollar360362360362Low
1/20/2020Euro395400395400Low
1/17/2020Pounds473477473477Low
1/17/2020Dollar360362360362Low
1/17/2020Euro395400395400Low
1/16/2020Pounds457480474477Low
1/16/2020Dollar360362360362Low
1/16/2020Euro397403395400Low
1/15/2020Pounds475480475480Low
1/15/2020Dollar360362360362Low
1/15/2020Euro397402397402Low
1/14/2020Pounds470475474480Low
1/14/2020Dollar359362360362Low
1/14/2020Euro397402397400Low
1/13/2020Pounds470477470475Low
1/13/2020Dollar359362359362Low
1/13/2020Euro397403397402Low
1/10/2020Pounds470475470475Low
1/10/2020Dollar359362359362Low
1/10/2020Euro397402397402Low
1/9/2020Pounds470475470475Low
1/9/2020Dollar359362359362Low
1/9/2020Euro397403397403Low
1/8/2020Pounds470475470475Low
1/8/2020Dollar359362359362Low
1/8/2020Euro397403397403Low
1/7/2020Pounds470477470477Low
1/7/2020Dollar359362359362Low
1/7/2020Euro397403397403Low
1/6/2020Pounds468473470477Low
1/6/2020Dollar359362359362Low
1/6/2020Euro392400397403Low
1/3/2020Pounds468473468473Low
1/3/2020Dollar359362359362Low
1/3/2020Euro390400390400Low
1/2/2020Pounds467473467473Low
1/2/2020Dollar359362359362Low
1/2/2020Euro392400392400Low
12/24/2019Pounds468474468474Low
12/24/2019Dollar358361358361Low
12/24/2019Euro390395390395Low
12/23/2019Pounds474478474478Low
12/23/2019Dollar359362359362Low
12/23/2019Euro395400395400Low
12/20/2019Pounds474480474480Low
12/20/2019Dollar359363359363Low
12/20/2019Euro395401395401Low
12/19/2019Pounds472480472480Low
12/19/2019Dollar359363359363Low
12/19/2019Euro395401395401Low
12/18/2019Pounds472480472480Low
12/18/2019Dollar360363359363Low
12/18/2019Euro395400395400Low
12/17/2019Pounds470477472477Low
12/17/2019Dollar360363360363Low
12/17/2019Euro394398394398Low
12/16/2019Pounds470475470477Low
12/16/2019Dollar359363360363Low
12/16/2019Euro394398394398Low
12/13/2019Pounds470480470476Low
12/13/2019Dollar359362359363Low
12/13/2019Euro394398394398Low
12/12/2019Pounds464472464472Low
12/12/2019Dollar358360359361Low
12/12/2019Euro392397392397Low
12/11/2019Pounds463470464472Low
12/11/2019Dollar358360358360Low
12/11/2019Euro393397392397Low
12/10/2019Pounds462468463470Low
12/10/2019Dollar358360358360Low
12/10/2019Euro392397393397Low
12/9/2019Pounds462468462468Low
12/9/2019Dollar358360358360Low
12/9/2019Euro392397392397Low
12/6/2019Pounds462467463468Low
12/6/2019Dollar358360358360Low
12/6/2019Euro390396390396Low
12/5/2019Pounds462467462467Low
12/5/2019Dollar358360358360Low
12/5/2019Euro390396390396Low
12/4/2019Pounds460466460466Low
12/4/2019Dollar358360358360Low
12/4/2019Euro390396390396Low
12/3/2019Pounds460465460465Low
12/3/2019Dollar358360358360Low
12/3/2019Euro390396390396Low
12/2/2019Pounds460466460465Low
12/2/2019Dollar358360358360Low
12/2/2019Euro390395390395Low
11/29/2019Pounds462466462466Low
11/29/2019Dollar358360358360Low
11/29/2019Euro390395392397Low
11/28/2019Pounds462467462466Low
11/28/2019Dollar358360358360Low
11/28/2019Euro390395390395Low
11/27/2019Pounds460465462467Low
11/27/2019Dollar358360358360Low
11/27/2019Euro391396390395Low
11/26/2019Pounds462466462466Low
11/26/2019Dollar358360358360Low
11/26/2019Euro390395390395Low
11/25/2019Pounds460465462466Low
11/25/2019Dollar358360358360Low
11/25/2019Euro390398390395Low
11/22/2019Pounds460464460465Low
11/22/2019Dollar357360358360Low
11/22/2019Euro390398390398Low
11/21/2019Pounds460464460464Low
11/21/2019Dollar357360357360Low
11/21/2019Euro390397390397Low
11/20/2019Pounds460464460464Low
11/20/2019Dollar358360358360Low
11/20/2019Euro390398390397Low
11/19/2019Pounds460465460464Low
11/19/2019Dollar358360358360Low
11/19/2019Euro392398390398Low
11/18/2019Pounds458464460465Low
11/18/2019Dollar358360358360Low
11/18/2019Euro390398392398Low
11/15/2019Pounds458464458464Low
11/15/2019Dollar358360358360Low
11/15/2019Euro392398393398Low
11/14/2019Pounds458464458464Low
11/14/2019Dollar358360358360Low
11/14/2019Euro390398392398Low
11/13/2019Pounds460465458464Low
11/13/2019Dollar358360358360Low
11/13/2019Euro392398392398Low
11/12/2019Pounds460465460465Low
11/12/2019Dollar358360358360Low
11/12/2019Euro394399394399Low
11/8/2019Pounds458463460465Low
11/8/2019Dollar358360358360Low
11/8/2019Euro393398394400Low
11/6/2019Pounds458463458464Low
11/6/2019Dollar357360357360Low
11/6/2019Euro393400393400Low
11/5/2019Pounds458463458463Low
11/5/2019Dollar357360357360Low
11/5/2019Euro393400393400Low
11/4/2019Pounds458463458463Low
11/4/2019Dollar357360357360Low
11/4/2019Euro392400393400Low
11/1/2019Pounds458463458463Low
11/1/2019Dollar358360358360Low
11/1/2019Euro393400394400Low
10/31/2019Pounds460464458463Low
10/31/2019Dollar358360358360Low
10/31/2019Euro395400393400Low
10/30/2019Pounds457463457463Low
10/30/2019Dollar358360358360Low
10/30/2019Euro395400395400Low
10/29/2019Pounds457463457463Low
10/29/2019Dollar358360358360Low
10/29/2019Euro395400395400Low
10/28/2019Pounds457462457463Low
10/28/2019Dollar358360358360Low
10/28/2019Euro396402395400Low
10/25/2019Pounds457463457462Low
10/25/2019Dollar358360358360Low
10/25/2019Euro396403396402Low
10/24/2019Pounds457462457463Low
10/24/2019Dollar358360358360Low
10/24/2019Euro396403396403Low
10/23/2019Pounds457463457462Low
10/23/2019Dollar358360358360Low
10/23/2019Euro397403396403Low
10/22/2019Pounds455460457463Low
10/22/2019Dollar358360358360Low
10/22/2019Euro395402397403Low
10/21/2019Pounds450455450455Low
10/21/2019Dollar358360358360Low
10/21/2019Euro387395390397Low
10/18/2019Pounds446453446453Low
10/18/2019Dollar358360358360Low
10/18/2019Euro387393387393Low
10/17/2019Pounds445450446452Low
10/17/2019Dollar358360358360Low
10/17/2019Euro387392387393Low
10/16/2019Pounds445452445450Low
10/16/2019Dollar358360358360Low
10/16/2019Euro387395387392Low
10/15/2019Pounds445450445452Low
10/15/2019Dollar357360358360Low
10/15/2019Euro385390385390Low
10/14/2019Pounds445450445450Low
10/14/2019Dollar358360357360Low
10/14/2019Euro384390385390Low
10/11/2019Pounds445450445450Low
10/11/2019Dollar358360358360Low
10/11/2019Euro384390384390Low
10/10/2019Pounds445450445450Low
10/10/2019Dollar357360357360Low
10/10/2019Euro386390384390Low
10/9/2019Pounds445453445450Low
10/9/2019Dollar357360357360Low
10/9/2019Euro390395386390Low
10/8/2019Pounds448453445453Low
10/8/2019Dollar357360357360Low
10/8/2019Euro390395390395Low
10/7/2019Pounds448453448453Low
10/7/2019Dollar358360358360Low
10/7/2019Euro392396390395Low
10/4/2019Pounds450454448453Low
10/4/2019Dollar358360358360Low
10/4/2019Euro392397392396Low
10/3/2019Pounds450454450454Low
10/3/2019Dollar358360358360Low
10/3/2019Euro392397392397Low
10/2/2019Pounds450453450453Low
10/2/2019Dollar358360358360Low
10/2/2019Euro392397392397Low
9/30/2019Pounds445450450453Low
9/30/2019Dollar358360358360Low
9/30/2019Euro392397392397Low
9/27/2019Pounds446452445450Low
9/27/2019Dollar357360358360Low
9/27/2019Euro392396392397Low
9/26/2019Pounds445450445450Low
9/26/2019Dollar357360357360Low
9/26/2019Euro390395392396Low
9/25/2019Pounds444449445450Low
9/25/2019Dollar357360357360Low
9/25/2019Euro390394390395Low
9/24/2019Pounds445448445449Low
9/24/2019Dollar357360357360Low
9/24/2019Euro390395390395Low
9/23/2019Pounds445450445450Low
9/23/2019Dollar357360357360Low
9/23/2019Euro392395392396Low
9/20/2019Pounds443446445450Low
9/20/2019Dollar357360357360Low
9/20/2019Euro392395392395Low
9/19/2019Pounds442446443446Low
9/19/2019Dollar357360357360Low
9/19/2019Euro390395391394Low
9/18/2019Pounds442447440446Low
9/18/2019Dollar357360357360Low
9/18/2019Euro390395390395Low
9/17/2019Pounds445448444447Low
9/17/2019Dollar358360358360Low
9/17/2019Euro394398393397Low
9/16/2019Pounds445450445450Low
9/16/2019Dollar357360357360Low
9/16/2019Euro394400394400Low
9/13/2019Pounds445450445450Low
9/13/2019Dollar357360357360Low
9/13/2019Euro394398394398Low
9/12/2019Pounds440445445450Low
9/12/2019Dollar357360357360Low
9/12/2019Euro393398394398Low
9/11/2019Pounds440446440446Low
9/11/2019Dollar358360358360Low
9/11/2019Euro392395392398Low
9/10/2019Pounds437450440446Low
9/10/2019Dollar356360358360Low
9/10/2019Euro388397392395Low
9/9/2019Pounds440444440445Low
9/9/2019Dollar358360358360Low
9/9/2019Euro390396390395Low
9/6/2019Pounds440444440444Low
9/6/2019Dollar358360358360Low
9/6/2019Euro392398390396Low
9/5/2019Pounds440444440444Low
9/5/2019Dollar357360358360Low
9/5/2019Euro392398392397Low
9/4/2019Pounds440443440444Low
9/4/2019Dollar357360358360Low
9/4/2019Euro392398392397Low
9/3/2019Pounds438443438443Low
9/3/2019Dollar357360357360Low
9/3/2019Euro392397392398Low
9/2/2019Pounds437445438443Low
9/2/2019Dollar357360357360Low
9/2/2019Euro391396392397Low
30/08/2019Pounds442448440445Low
30/08/2019Dollar358360358360Low
30/08/2019Euro392398395398Low
29/08/2019Pounds440446442448Low
29/08/2019Dollar358360358360Low
29/08/2019Euro392398392398Low
28/08/2019Pounds444450440445Low
28/08/2019Dollar358360358360Low
28/08/2019Euro392396392398Low
27/08/2019Pounds444450444450Low
27/08/2019Dollar358360358360Low
27/08/2019Euro394400393398Low
26/08/2019Pounds442447443448Low
26/08/2019Dollar358360358360Low
26/08/2019Euro392397393397Low
23/08/2019Pounds440445440445Low
23/08/2019Dollar358360358360Low
23/08/2019Euro390397390397Low
22/08/2019Pounds445450440445Low
22/08/2019Dollar357359358360Low
22/08/2019Euro393398390397Low
21/08/2019Pounds447452445450Low
21/08/2019Dollar358360357359Low
21/08/2019Euro392398393398Low
20/08/2019Pounds450455447452Low
20/08/2019Dollar358360358360Low
20/08/2019Euro395400392398Low
19/08/2019Pounds450455450455Low
19/08/2019Dollar358360358360Low
19/08/2019Euro395400395400Low
16/08/2019Pounds451455450455Low
16/08/2019Dollar357360358360Low
16/08/2019Euro397402395400Low
15/08/2019Pounds450455451455Low
15/08/2019Dollar357360357360Low
15/08/2019Euro398403397402Low
14/08/2019Pounds450455450455Low
14/08/2019Dollar357360357360Low
14/08/2019Euro398403398403Low
9/8/2019Pounds450455450455Low
9/8/2019Dollar357360357360Low
9/8/2019Euro398404398403Low
8/8/2019Pounds450455450455Low
8/8/2019Dollar357360357360Low
8/8/2019Euro398403398404Low
7/8/2019Pounds453458450455Low
7/8/2019Dollar357360357360Low
7/8/2019Euro398403398403Low
6/8/2019Pounds457460452458Low
6/8/2019Dollar358360357360Low
6/8/2019Euro400404400403Low
5/8/2019Pounds458462457461Low
5/8/2019Dollar358360358360Low
5/8/2019Euro400405400405Low
2/8/2019Pounds458462458462Low
2/8/2019Dollar358360358360Low
2/8/2019Euro400405400405Low
1/8/2019Pounds458462458462Low
1/8/2019Dollar358360358360Low
1/8/2019Euro402405402405Low
31/07/2019Pounds458463458463Low
31/07/2019Dollar358360358360Low
31/07/2019Euro403407403407Low
30/07/2019Pounds458463458463Low
30/07/2019Dollar358360358360Low
30/07/2019Euro403407403407Low
29/07/2019Pounds458461458463Low
29/07/2019Dollar358360358360Low
29/07/2019Euro402406403407Low
26/07/2019Pounds459463458461Low
26/07/2019Dollar358361358360Low
26/07/2019Euro403406401405Low
25/07/2019Pounds459463459463Low
25/07/2019Dollar358361358361Low
25/07/2019Euro403407403406Low
24/07/2019Pounds459463459463Low
24/07/2019Dollar358361358361Low
24/07/2019Euro404407403407Low
23/07/2019Pounds460464459463Low
23/07/2019Dollar359361358361Low
23/07/2019Euro406410404407Low
22/07/2019Pounds459463459463Low
22/07/2019Dollar358360359361Low
22/07/2019Euro406410406410Low
19/07/2019Pounds459463459463Low
19/07/2019Pounds358360358360Low
19/07/2019Pounds406410406410Low
18/07/2019Pounds458462459463Low
18/07/2019Dollar358360358360Low
18/07/2019Euro403407406410Low
17/07/2019Pounds458462458462Low
17/07/2019Dollar358360358360Low
17/07/2019Euro403407403407Low
16/07/2019Pounds460463458462Low
16/07/2019Dollar359361358360Low
16/07/2019Euro405408403407Low
15/07/2019Pounds460464460463Low
15/07/2019Dollar359361359361Low
15/07/2019Euro405410405408Low
12/7/2019Pounds458463460464
12/7/2019Dollar359361359361
12/7/2019Euro404407405410
11/7/2019Pounds458463458462
11/7/2019Dollar359362359361
11/7/2019Euro402407405410
10/7/2019Pounds458463458463
10/7/2019Dollar359361358361
10/7/2019Euro401406402405
9/7/2019Pounds458465457465
9/7/2019Dollar359362359362
9/7/2019Euro401405402405
8/7/2019Pounds458463460465
8/7/2019Dollar359362359362
8/7/2019Euro401405401405
5/7/2019Pounds458463458463
5/7/2019Dollar359362359362
5/7/2019Euro401405401405
4/7/2019Pounds458463458463
4/7/2019Dollar359362359362
4/7/2019Euro401405400405
3/7/2019Pounds458464458463
3/7/2019Dollar359361359362
3/7/2019Euro401405401405
2/7/2019Pounds458462458463
2/7/2019Dollar359361359361
2/7/2019Euro398402400404
1/7/2019Pounds458462458462
1/7/2019Dollar358360359361
1/7/2019Euro400403398403
28/06/2019Pounds457460457462
28/06/2019Dollar358360358360
28/06/2019Euro398402400403
27/06/2019458462458462
27/06/2019358360358360
27/06/2019398402398402
26/06/2019458463458462
26/06/2019358360358360
26/06/2019398402400403
25/06/2019458464458464
25/06/2019358361358361
25/06/2019400403398402
24/06/2019458464460465
24/06/2019358361359361
24/06/2019398402398403
21/06/2019460465458464
21/06/2019358361358361
21/06/2019398402398402
20/06/2019460465468462
20/06/2019358361358361
20/06/2019398402400403
19/06/2019460465460465
19/06/2019358361358361
19/06/2019398401398402
18/06/2019460465462465
18/06/2019359361358361
18/06/2019400403400405
17/06/2019462467462468
17/06/2019358361358361
17/06/2019400404400404
14/06/2019426467426467
14/06/2019358361358361
14/06/2019400404400404
13/06/2019467471462467
13/06/2019358361358361
13/06/2019400404400404
12/6/2019468471467471
12/6/2019358361358361
12/6/2019400404400404
11/6/2019465470467471
11/6/2019358361359361
11/6/2019400403399402
10/6/2019468472468472
10/6/2019358361358361
10/6/2019404400400404
7/6/2019469473467471
7/6/2019358361358360
7/6/2019400403398402
6/6/2019468472465470
6/6/2019358360358361
6/6/2019398402403400
3/6/2019468472468472
3/6/2019358360358361
3/6/2019398402398402
31/05/2019465470470474
31/05/2019358360358360
31/05/2019397402400403
30/05/2019470474470474
30/05/2019358360358360
30/05/2019400403400403
28/05/2019470474470474
28/05/2019358360358360
28/05/2019400403400403
27/05/2019470474470474
27/05/2019358360358360
27/05/2019400403400404
24/05/2019470474470474
24/05/2019358360358360
24/05/2019400405400405
23/05/2019470474472475
23/05/2019358360358360
23/05/2019400405400405
22/05/2019472475472475
22/05/2019358350358360
22/05/2019400405400405
21/05/2019472475472473
21/05/2019358360358360
21/05/2019400405400405
20/05/2019472475472475
20/05/2019358360358360
20/05/2019400405400405
17/05/2019472475472475
17/05/2019358360358360
17/05/2019400405400404
16/05/2019472475472475
16/05/2019358360358360
16/05/2018400404400404
15/05/2019470475470475
15/05/2019358360358360
15/05/2019400404400404
13/05/2019470475470475
13/05/2019358360358360
13/05/2019400404400405
10/5/2019470475470475
10/5/2019358360358360
10/5/2019400405400405
9/5/2019470475470475
9/5/2019358360358360
9/5/2019400405400405
29/04/2019470475470475
29/04/2019358360358360
29/04/2019400405400405
26/04/2019470475470475
26/04/2019358360358360
26/04/2019400405400405
25/04/2019470475470475
25/04/2019358360358360
25/04/2019400405400405
24/04/2019470475472476
24/04/2019358360358360
24/04/2019400405400405
23/04/2019474478472476
23/04/2019355360358360
23/04/2019390402400405
22/04/2019472476472476
22/04/2019357360358360
22/04/2019400405400405
19/04/2019467471470475
19/04/2019355360357360
19/04/2019395400402406
18/04/2019470475470475
18/04/2019357360357360
18/04/2019402406402406
17/04/2019470475470475
17/04/2019357360357360
17/04/2019402406402406
16/04/2019465470470475
16/04/2019360365357360
16/04/2019400405402405
15/04/2019
15/04/2019
15/04/2019
12/4/2019
12/4/2019
12/4/2019
11/4/2019
11/4/2019
11/4/2019
10/4/2019
10/4/2019
10/4/2019
9/4/2019
9/4/2019
9/4/2019
8/4/2019
8/4/2019
8/4/2019
5/4/2019
5/4/2019
5/4/2019
4/4/2019
4/4/2019
4/4/2019
3/4/2019
3/4/2019
3/4/2019
2/4/2019
2/4/2019
2/4/2019
1/4/2019
1/4/2019
1/4/2019

READ ALSO: Nigeria And China Currency Swap Deal Explained

Data is collated from various black market dealers on the mainland and island of Lagos State where forex is sold. The price quoted daily on this page represents the average price obtained by our Research Team. Our prices are a guide and could be slightly different from the price you get when you eventually decide to buy or sell.

GTBank 728 x 90

1 Comment

1 Comment

  1. Tunde

    March 12, 2020 at 5:19 pm

    The Naira has appreciated against the Dollar. Recheck back

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Markets

Forex crisis: Those patronizing parallel market will lose money – CBN Governor

The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has warned firms and individuals against patronizing the parallel market, popularly called the black market.

Published

on

Cashless Policy, Forex Crisis, This is when CBN will cut Monetary Policy Rate – Emefiele, Nigeria’s External Reserves depleted by $2.9 billion, hit 10 months low , CBN to fight piracy in Creative Industry , CBN projects macroeconomy confidence to rise by 118.3% in November, Emefiele addresses stable naira, CBN, FIRS, others under investigation over fraudulent forex dealings, CBN extends deadline for recapitalization by microfinance banks, CBN discloses conditions to assess N100b facility, identifies problems in processing facility

The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has warned businesses and individuals against patronizing the parallel market, popularly called the black market.

He warned them to stop using black markets for foreign currency exchange, following the liquidity crisis triggered by low oil prices and a shortage of dollars.

UBA ADS

This was disclosed in a video message, which was monitored by Nairametrics.

According to the CBN governor, patronizing the parallel market is helping to overheat the foreign exchange market. He further pointed out that the exchange rate at parallel market is unrealistic and that businesses and speculators that keep on patronizing them will lose money.

READ MORE: COVID-19: Emefiele lists 8 things that can “transform” Nigeria

GTBank 728 x 90

In his statement, Godwin Emefiele said,

I know some of you are involved, stop now. By going to the parallel market, you are helping to overheat that market. Not only that, you will lose money because you would have bought it at a price that is not realistic.

“I can tell you that you are going to lose money. But we have seen your account already. We are appealing to you, please stop and let’s do what is right, what is legal, so that Nigeria can continue to be a good place for you and to live in.”

Going further, he said, “We are taking note of some of you and I can tell you, go ahead and do your business, nothing will stop your forward, your forward will be at a committed price, we are going to provide more liquidity in the market so that people can stop going to the parallel market. Don’t go there because it is not good for you. But be patient, it’s going to be orderly’’.

READ ALSO: Reports: China may defer loans owed by Nigeria and others

app

devland

Get the Nairametrics App on iOS

The demand for dollars has been on the increase without adequate supply, thereby putting a lot of pressure on the naira. Importers with outstanding obligations have scrambled for foreign exchange while the providers of foreign exchange, such as foreign investors, have exited.

Continue Reading

Markets

Banks text customers to come and buy dollars

These follow recent pronouncement by the CBN that it is ready to provide forex for investors who wish to repatriate funds from the country

Published

on

Banks, Happy Jumping Photo by Val Vesa on Unsplash

Nigerian banks are texting their customers about the availability of forex for personal travels. A series of text messages monitored by Nairametrics show commercial banks informing their customers that they can now purchase forex.

A text from a commercial bank read’ “Dear Client, purchase USD for eligible invisibles (Tuition fees, Upkeep, Medical Payments, Travel Allowances, etc) and SME transactions at our branches.”

UBA ADS

Another commercial bank sent the following message to its customers; “Back in Business? Getting Ready for Back to School? No Need To Worry About FX.” Most users on social media platform, Twitter, also confirm receiving these messages.

The messages follow recent pronouncement by the CBN that it is ready to provide forex for investors who wish to repatriate funds from the country despite the drop in oil prices and its effect on forex supply.

READ ALSO: UPDATE: Fitch downgrades Nigeria’s IDR to “B”, says CBN’s remedial policy not enough

GTBank 728 x 90

The CBN also insisted that “Foreign Exchange available would be devoted to strategic importation or service obligations that are priority” as Nigerians worried about their ability to secure forex for essential items once the global lockdown eases.

How can you buy it?

Findings from Nairametrics indicate banks are willing to sell forex but currently sell to students, parents, and guardians looking to pay school fees. We understand forex is not being sold for PTA since air travel is still suspended in most countries following the global lockdowns. However, to purchase the forex, all you need to do is approach your bank with evidence of use.

READ MORE: NSE Hosts First Virtual Automated Trading System (ATS) Broker Certification Training Programme

Assurance moves

As part of its move to assure the market that forex supply will be available, the CBN agreed to a depreciation of the exchange rate at the forwards market. Last week, Nigeria’s 5 years onshore Non-Deliverable forward contract posted its biggest drop by plunging 27% from N413.36 to close at N569.69 a price differential of N156. The 1-year Non-Deliverable forward contract was down 5% from N394.29 to close at N421.22 a price differential of N26.93.

app

One month NDF is now N395/$1 suggesting an imminent devaluation in the I&E window which could also impact the current official exchange rate of N360/$1 as well as the BDC rate which was devalued to N370/$1 some weeks back.

devland

The move triggered worries that the exchange rate might be devalued in line with the depreciation at the forwards market. Reports reaching Nairametrics indicate the apex bank is desperate to assure investors that it has enough forex to defend the naira for now and does not see any immediate need for a devaluation.

What changed?

Oil prices staged a rebound in the last two weeks with Nigeria’s Bonny Light crude hitting $27 as at Thursday morning. Nigeria also just recently banked the $3.4 billion IMF facility helping to boost external reserves. The data from CBN shows that the external reserves increased sharply by $1.36 billion in just 13 days, rising from $33.42 billion as of April 29, 2020, to about $34.78 billion on May 12, 2020. The Nigerian external reserve had been on a downward slide since last year, after hitting a high of $45.17 billion on June 11, 2019. It should be noted that the reserve lost over $11 billion within a space of 10 months.

Continue Reading

Markets

Nigerian Manufacturers confirm dollar scarcity

Manufacturers have confirmed dollar scarcity is real and no one knows when this will end.

Published

on

Nigerian Manufacturers confirm dollar scarcity, Donald Trump, U.S dollar gains strength, triggered by doubts over COVID-19 vaccine

In a recent report released by Bloomberg, the Manufacturers Association of Nigeria (MAN) said that its members were finding it very difficult to access U.S dollars for their business transactions.

“It was pretty difficult to source forex from all the available windows. Members have had problems accessing foreign currencies for five weeks due to lack of Central Bank’s interventions,” the manufacturers’ group said

UBA ADS

This was corroborated by investment banking firm, FBNQuest in a note on May 7, when it said, “There is an estimated $1 billion backlog of unmet dollar demand.”  

Nigeria depends on crude oil exports for most of its revenue and more than 90% of its foreign exchange earnings. Despite a recent rally in oil prices, Nigeria’s forex situation remains bleak as businesses find it difficult to access forex.

(READ MORE: CBN Governor guarantees investors over forex repatriation)

GTBank 728 x 90

“The scarcity of foreign-dominated currencies is hampering the ability of local manufacturers to import raw materials, machines, and spares that are available in Nigeria,” MAN said.

According to the group, Nigeria’s central bank needs to prioritize improved access to foreign exchange for operators in the real sector to allow them to acquire the necessary tools in reactivating the economy.

Some businesses tracked by Nairametrics also buttress Bloomberg’s report. One factory owner who preferred to remain anonymous inform us that they have been looking to buy $4million for weeks but have only been able to source $1 million. “We consider ourself lucky despite only being able to get 25% of what we want” he remarked.

Forex at the black market range from N420 to N470 for wired transfers depending on who is selling and buying respectively. The black market is yet to settle for any price discovery due to the asymmetrical nature of the supply demand dynamics.

The Forex market recently depreciated the exchange rate between the naira and the dollar with the 5 year non-deliverable forwards falling to N570/$1 from N413/$1. The CBN maintains it has enough dollars to meet demand as it commenced sale of forex last week.

app

The exchange rate at the I&E window appreciated to N386.94 on Tuesday. This is against the N387.88 to a dollar it recorded on Monday morning as investors scrambled for forex supplies.

devland

The dearth of funds persisted at the Investors’ & Exporters’ window during today’s trading session with most trades consummated c.$/N386 levels. Consequently, the Naira traded flat to close at $/N386.94.

Forex for SMEs remains $20k per quarter at N380/$1.

Continue Reading