Pound to Naira black market exchange rate today

The naira has remained nether sustained unit against the British lb successful the parallel market, wherever rates are consistently overmuch higher than astatine the authoritative window.

In caller updates from forex trackers specified arsenic NairaToday and NgnRates, the lb has traded astatine over ₦2,000/£1.

At the authoritative window, the Central Bank of Nigeria (CBN) maintained the exchange rate astatine astir ₦1,890/£1, a fig that remains acold down what is obtainable connected the streets.

The United States dollar besides traded beardown successful the parallel marketplace astatine astir ₦1,530/$1, portion the euro exchanged astatine ₦1,650/€1.

Analysts accidental the wide spread betwixt authoritative and achromatic marketplace rates is fuelled by persistent forex shortages, rising request from importers and travellers, and speculative enactment by currency traders.

Traders successful Lagos and Abuja told reporters that pound-to-naira rates tin displacement aggregate times successful a azygous day, with buyers advised to corroborate from reliable platforms similar AbokiFX, NairaToday, and NgnRates earlier closing transactions.

The unit connected the naira has nonstop effects connected households and businesses. Importers look higher costs, students and travellers successful the United Kingdom wage much for fees and upkeep, portion section ostentation worsens arsenic the worth of the currency continues to slide.

The station Pound to Naira achromatic marketplace speech complaint today appeared archetypal connected Vanguard News.