The exchange rate between the naira and the US dollar for today (Friday, February 5th 2021), stands at ₦475/US$1 in the parallel market. The rate had also closed at ₦475/US$1 on Thursday, February 3rd 2021.
- Naira: ₦475
- Dollar: $1
- Date: February 5th, 2021
The exchange rate between the naira and the British pound sterling stands at ₦635/₤1 on Friday, February 5th 2021. The rate had closed at ₦630/₤1 on Thursday, February 4th 2021.
- Naira: ₦635
- Pounds Sterling: ₤1
- Date: February 5th, 2021
Explore Economic Research Data From Nairametrics on Nairalytics
The exchange rate between the naira and the European euro stands at ₦575/€1 on Friday, February 5th 2021. The rate had also closed at ₦575/€1 on Thursday, February 4th 2021.
- Naira: ₦575
- Euro: €1
- Date: February 5th, 2021
Activity: US Dollar stands at ₦470/US$1 in the parallel market
READ ALSO: The risk of buying Forex at black market rate of N460/$1
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Data is collated from various black market dealers on the mainland and island parts 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. This is a daily tracker and updated close of business. See table below for parallel market exchange rate dating to 2019.
I suspect the operators of Aboki FX deliberately manipulate the black market rate. You may need to watch closely.
They steadily move their rates – most times, days ahead of the actual market rates, by playing on the knowledge that its site has become popular
Thanks for your effort at FX update. Please keep it up.
Let it come down more
Is black market a legal platform to access forex? Why is it quoted and referenced to even by the apex bank as if it’s recognized by the relevant laws of the land? If the parallel market is not a legal trading platform, the government should outlaw it immediately and save the naira and the economy from its disruptions and confusion.
My dear your reasonings are very apt and correct.
This is Nigeria! The country that doesn’t play by the rules.
If people from certain sections of the country were to be at the helm of the black market then the laws of the land will be used to stop them.
Those selling FX in major cities are the untouchables hence the law is silent.
The things happening in Nigeria do not happen elsewhere.
How do my friend transfer money from Nigeria to UK now?
It is nice to know that you have a Research team that includes Dr Adeyemi Adebayo. Simply reporting average exchange rates for the different foreign currencies leaves one wondering about the Size of the dataset (n count), range of the data (high/low), and the standard deviation (s). Could these be included to make the data more useful to your readers?