BLACK MARKET EURO TO NAIRA EXCHANGE RATE TODAY
Still on the foreign exchange rate enlightening scheme, here we are again. The scheme was concocted for readers, guests and others to provide update on the present situation and rate of the country’s native currency against foreign currencies. In that sense, this particular write-up aims at providing information on the Black Market EURO to NAIRA Exchange Rate today.
The value of the EURO (€) is at a figure that it hasn’t been against the Naira ever not until about 16 months ago.
Quickly, I would run through the reasons for the decline of the Naira against the EURO (€) in the consequent paragraphs.
Really, you don’t need a Banker to explain to you the reasons behind the currency fall; neither do you need an Economist. The daily doings and activities of you and I as well as some government officials are factors running the value of the used-to-be valued Naira down the drain.
Fall in Global Oil prices, high dependency on imported goods, currency hoarding activities by Bureau de Change operators, ineffective and inefficient Government policies, little exportation activities, lack of manufacturing will and zeal etc. are some of the reasons why the Naira is in such dilapidated state. Luckily, the Naira has even tasted some improvement as it has risen significantly to some extent lately.
The figures below shows the Black market EURO to Naira exchange rate today (MAY 2017).
- N415 – to buy €1
- N420 – to sell €1
CBN EURO to Naira Rate Today (MAY 2017).
What this simply means is that Black-market operators would buy your EURO (if you have any to sell) at the rate of N415 per EURO.
On the other hand, if you have some needs that require the EURO, Black market operators will fulfil your needs as long as you pay them N420 for each EURO you need. No hassles.
EURO TO NAIRA EXCHANGE RATE HISTORY (PARALLEL MARKET)
Date Naira Per EUR
SEPT N348 – N351
AUG N356 – N347
JULY N314 – N355
JUNE N222 – N312
MAY N227 – N221
APRIL N226 – N227
Stay glued to this platform for time-to-time news and updates on Black Market EURO to NAIRA Exchange rates.
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