Black Market Pounds To Naira Exchange Rate Today Monday, 8th November 2021

Black Market Pounds To Naira Exchange Rate Today Monday, 8th November 2021 can be accessed below.

 

 

Newsonline has obtained Pounds to Naira black market exchange rate today, Monday 8th November 2021.

 

BREAKING: Naira Gains Massively At Official Market Despite Drop In Forex Turnover

 

On this page, Newsonline Nigeria will track and report the daily pounds to naira black market exchange rate.

 

Note: The pounds to naira abokifx has not been updated recently.

 

As of the time of writing, the official pounds to naira CBN rate is 559.563. That means, 1000 pounds to Nigerian naira as per pounds to naira official rate is N559,563.

 

 

Pounds to Naira Exchange rate as of today

According to Google (Data by Morningstar, pounds to naira as at today is N565.19/£.

 

Pounds to naira aboki rate

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Remember, the pounds to naira aboki rate will be different and possibly higher than the official CBN rate. pounds to naira aboki rate today is higher_than the official CBN rate. Remember, the Abokis are the Mallams who are into foreign change in many places in Lagos and in other states.

 

Abokifx pounds to naira rate

 

The Aboki constitutes the core players in the parallel market in Nigeria.

 

Pounds to Naira CBN Rate (pounds to naira official rate)

 

Source: cbn.gov.ng

• Pound to Naira exchange rate is ₦ 561.71 in CBN, ₦ 632.00 in Stan Chart, ₦ 560.25 in FX Market, ₦ 510.06 in Moneygram, and ₦ 496.26 in Western Union
• Pound to Naira rate recently moves upwards 0.01% in CBN
• Pound to Naira rate recently moves downwards 0.01% in FX Market, 0.58% in Moneygram, 0.01% in Western Union
• Pound to Naira exchange rate has the lowest value of ₦ 496.26 at Western Union as of 02/12/2020 among the rates listed in the summary table
• Pound to Naira exchange rate has the highest value of ₦ 632.00 at Stan Chart as of 13/10/2021 among the rates listed in the summary table
• Most recent Pound to Naira bank rate is ₦ 632.00 at Stan Chart as of 13/10/2021

How CBN regulates Exchange Rates of Pounds to Naira today

According to the Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, the only recognised foreign exchange market in Nigeria is the Importers and exporters (I&E) FX window. This means that the dollar to Naira rate is not fixed as before.

 

What is the Importers and exporters (I&E) FX window Rate

 

You might want to ask, what is I&E window meaning? Well,_the I&E FX window is the market trading segment for investors, exporters and end-users that allows for FX trades to be made at exchange rates determined based on prevailing market circumstances.

 

Many banks in Nigeria buy and sell pounds using the I&E window rate. The benefit of the I&E Window rate is that it leaves a competitive market rate. As speculated, it also gives the opportunity to quote your own selling rate (willing buyer and willing seller).

What is the I&E fx window rate today? As we speak, the I&E window dollar to Naira rate is 562 per pound.

Official Pounds to Naira Rate Calculation

• 1 pound to naira ⇒.£1 X N562 = ₦562
• 4million pounds to naira ⇒.£4,000000 X ₦562 = ₦2,248,000,000
• 1000 pounds to naira ⇒ £1000 X ₦562 = ₦562,000
• 100 pounds to naira ⇒ £100 X ₦562 = ₦56,200
• 20 pounds to naira ⇒ £20 X ₦562 = ₦11,240
• 500 pounds to Nigerian naira ⇒ £500 X ₦562 = ₦281,000
• 200 pounds to naira is how much? ⇒ £200 X ₦562 = ₦112,400
• 300 pounds to naira is how much? ⇒ £300 X ₦562 = ₦168,600
• 600 pounds to naira is how much? ⇒ £600 X ₦562 = ₦337,200
• 3000 pounds to naira is how much? ⇒ £3000 X ₦562 = ₦1,686,000
• 15000 pounds to naira is how much ⇒ £1500 X ₦562 = ₦834,000

Pounds to Naira black market rate

Economicconfidential.com yesterday reports that the naira exchanged to the dollar at 580 on Friday, while the Pound Sterling traded for 780 at the parallel market.

 

Some Bureau de Change operators who spoke to Economicconfidential.com correspondent said that the naira to the dollar was bought and sold at 575 and 580, while the Pound Sterling was bought and sold at 775 and 780.

Source: NGRates.ng pounds to naira aboki rate

 

The exchange rate between Pounds and Naira in the black market is unstable. The key players (Abokis) sell pounds depending on how to buy it. They typically add some fraction per unit to make up a profit. The only way to know the current pounds to naira bank exchange rate today is to visit, or call the exchangers to confirm. The Federal government has vowed to clamp down on black market activity in Nigeria.