BREAKING: Naira Gains Massively At Euro Black Market, See New Exchange Rate

Naira Gains Massively At Euro Black Market, See New Exchange Rate

Brand News Day Nigeria reports that the Nigerian official currency, on Monday, January 31, 2022, Naira gains massively against the European Euro, days after maintaining the same position at the parallel market otherwise known as the black market.

This online news platform understands that while the naira has gained against European Euro in the black market, on Monday, 31 January 2022.

How Much is Euro To Naira CBN Rate Today?

Meanwhile, the exchange rate between the naira and the Euro at the official Investors and Exporters (I&E) window closed at 467.21/$1, while it traded as high as N470/$1 before it balanced to a lower rate.

Naira gained further against the European Euro in the official market since last Friday albeit by 0.02% to close at N467.21/$1 compared to N466.25/$1 recorded in the previous trading session. Starting a new trading week at the N464.21 Nigerian Naira, the CBN Euro to Naira rate.

The exchange rate has maintained an average of Nigerian’s Naira N462. to European Euro since the beginning of the 2022 year.

Euro to Naira CBN rate: N464.21 Nigerian Naira

How Much is Euro To Naira Black Market Rate Today

The good news for the Nigerian’s currency is that the naira gains massively against the Euro in the black market as the current Euro exchange rate decline in the parallel market otherwise known as the black market, in Lagos, Nigeria.

READ: APRA: Africa’s PR Body Faces A Defining Question As New Audit Exposes Gaps Between Continental Ambition And Delivery

Black Market Rate Today Monday: 1 Euro equals = ₦620 per €1 Black market Rate

Naira Gains Massively At Euro Black Market, See New Exchange Rate

Brand News Day Nigeria in an interview with a Bureau De Change (BDC) operator at the Lagos Island market, on Monday. The player disclosed that the sharpness in the present exchange rate as the naira gains in the market is unclear to him. The Market took a new turn at the late hour of Friday, as the Euro to Naira falls at the black market.

The player disclosed that the Nigerian’s Naira is purchased at ₦620 per $1 and sold for ₦622 per $.1.

Aboki fx is the most trusted source for black market EUR to naira rate today. You can find their exchange rate for today HERE.

Recall that as Naira has fallen, inflation takes over the economy which usually affects the citizens. Meanwhile, Central Bank of Nigeria Governor, Godwin Emefiele has said that the Nigerian Economy needs a massive turnaround and has urged Nigerians to work towards it.

What is the current EUR to the naira exchange rate in the parallel market? Well, it may interest you to know that Euro to Naira rate in the black market sometimes varies hugely from the rate on the Central Bank of Nigeria website (www.cbn.gov.ng).

In a similar vein, Brand News Day Nigeria has reported that the local currency opened at ₦620 per €1 at the parallel market otherwise known as the black market, today, Monday, 31 January 2022, in Lagos Nigeria, after it closed at ₦635.00 per €1 on Friday, 28 January 2022. This represents a change of N15 from the previous trading day.

READ: APRA: Africa’s PR Body Faces A Defining Question As New Audit Exposes Gaps Between Continental Ambition And Delivery

What You Should Know

Players buy the Nigerian’s Naira at is purchased at ₦620 per $1 and sold for ₦622 per $.1
The Euro to naira opened in the parallel market last Monday, 24 January 2022 at ₦635 per $1
Despite that, the Central Bank of Nigeria (CBN) does not recognise the parallel market, otherwise known as the black market, it has since directed anyone who requires forex to approach their banks, urging that the I&E window is the only known exchange.
The Market took a new turn at the late hour of Friday, as the Euro To Naira falls at the black market.