This article reveals the Great Britain Pound to naira black market exchange rate in Nigeria today, as well as the official rate from the Central Bank of Nigeria. Here at NigerianFact, we know the importance of knowing the exact Pound to naira exchange rate even if you are in the UK, Nigeria or any part of the world. That is why this page will be bringing to you real time updates of the Pound to naira black market exchange rate and that of CBN. You can bookmark this page, so you can keep yourself updated.
The Great Britain Pound (GBP) to Naira Exchange Rate in Nigeria
The exchange rate between the British pound (GBP) and the Nigerian naira (NGN) fluctuates daily based on a variety of economic factors. As of today, the current exchange rate has change from what it was yesterday. So, this is why you should always check this page for the exchange rates in real time.
The Nigerian economy is heavily dependent on oil exports, and fluctuations in the price of oil can greatly impact the value of the naira. Additionally, political instability and inflation can also affect the exchange rate.
In recent years, the naira has depreciated against the pound due to a decline in oil prices and a decrease in foreign investment. However, the Central Bank of Nigeria has implemented policies to stabilize the currency, such as devaluing the naira and increasing interest rates.
It is important to note that the official exchange rate, set by the Central Bank of Nigeria, is often different from the rate at which currency is exchanged on the black market or aboki, as it is called locally.. The black market rate is often higher due to a shortage of foreign currency in the country.
Individuals and businesses looking to exchange Pound for naira should take these factors into consideration and monitor the exchange rate closely. It is also important to use reputable currency exchange providers to ensure a fair and accurate exchange.
Pound to Naira Exchange Rate in CBN Today
The CBN exchange rate of the GBP to Naira in Nigeria today is N573 per £1. This is always lower than the black market rate like I said earlier.
Pound to Naira Black Market Exchange Rate in Nigeria Today
The Pound to naira black market exchange rate in Nigeria today is as follows:
Buying rate: N900 per £1
Selling rate: N925 per £1
Overall, the exchange rate between the pound and the naira is constantly changing and can be affected by both internal and external factors. It is important to stay informed and use reliable sources for the most up-to-date exchange rate information.