Foreign Exchange Rates

What Is the Current Exchange Rate for Euro to Naira on the Black Market?

This Euro to Nigerian Naira exchange rate is current as of today. Check with the Central Bank of Nigeria (CBN) or the black market for the most up-to-date euro to naira exchange rate.

This Euro to Nigerian Naira exchange rate is current as of today. Check with the Central Bank of Nigeria (CBN) or the black market for the most up-to-date euro to naira exchange rate. The exchange rate between the Euro and the Nigerian Naira is as follows; alternatively, you can convert your Euros to Naira at the current rate being provided on the black market or the parallel market.

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One reason why so many people in Nigeria opt to convert their foreign currency into naira via the black market is that the rate on the black market is much greater than the rate offered by banks, especially for the euro. If you are curious in the prices being offered on the black market, you can view them on this page.

To help you easily verify the rates applicable to the currencies you desire to swap on the parallel markets, we have also given the conversion rate for EUR to Nigerian naira here. This is the best place to find out how much one euro is worth in Nigerian naira right now. The page displays the current exchange rate for their currency.

Today’s Black Market Exchange Rate of Euro to Nigerian Naira

  • Buying Rate: ₦702
  • Selling Rate: ₦692

How much Nigerian naira does one Euro currently fetch on the black market? Keep in mind that the rate at which you can convert Euros to Naira on the black market may differ significantly from the official rate published by the Central Bank of Nigeria.

What you see here is the current conversion rate for Euros to Nigerian Naira. We will do our best to keep you informed by providing daily rate updates. The Euro to Naira Exchange Rate displays how much one Euro is now worth in Naira. The rates offered by various institutions are not the same as those found on the black market.

What Is Today’s Official Euro to Nigerian Naira Exchange Rate?

The black market, or the parallel market, is a financial system in which currency exchange prices are set independently of official government or central bank rates. Nigeria’s economy is feeling the effects of the current exchange rate of ₦702 to one Euro.

Also Read:  What Is the Current Exchange Rate for British Pounds to Naira on the Black Market?

The weakening of the Naira currency has a significant impact on the lives of ordinary Nigerians. Nigeria’s central bank governor Godwin Emefiele has said the country’s economy needs a dramatic turnaround, and he has urged the people of Nigeria to take decisive action to achieve this goal.

In Nigeria, the official Euro exchange rate is set by the Central Bank of Nigeria (CBN), although the black market (sometimes called the parallel market) typically offers a higher rate. The Central Bank of Nigeria (CBN) Exchange rate is the rate shown on the CBN webpage converting Euros to Nigerian Naira. This rate can be used for either buying or selling Euros in exchange for Naira.

When using a Naira Mastercard or Naira Debit Card issued by a Nigerian bank for purchases made in a foreign currency, the exchange rate used is the bank rate for converting Euros to Nigerian Naira. These prices will never be able to compete with the black market.

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