“There is a significant locking up” of the dollar-naira market that will last until those holding dollars see “a closing of the gap with the perceived true value of the local currency,” he says. While in the Non-Deliverable Forwards (NDF) market in London, the currency was priced at N515 to a US dollar in a year’s time. To convert EURO to Naira, just enter the amount of euro that you want to convert in the space below, the currency converter will help you calculate the Nigerian Naira (NGN) equivalent of the euro amount using the current exchange rate.In the same way, you can convert Nigerian Naira to Euro. Last updated: 2020-11-16 19:51 UTC. He called for the support of Members to ensure the total overhaul of the public image of the Nigerian Police. All figures are live mid-market rates, which are not available to consumers and are for informational purposes only. A capital inflow of the sum of $1.46 billion was received by Nigeria in the third quarter of 2020 (Q3 2020), compared to $1.29 billion in the previous quarter (Q2 2020), as contained in the latest capital importation report released by the National Bureau of Statistics (NBS). The future is bleak for our future generations if the trend continues! Exchange rate on December 12, 2020. Given their low value, coins aren't used much in Nigeria. Travelers can bring up to 5000 Nigerian Naira per person into Nigeria. FACT 2: The most popular banknotes used in Nigeria are: ₦5, ₦10, ₦20, ₦50, ₦100, ₦200, ₦500, ₦1000. I know once I arrive I can find places to change money. The highest in recent years. London is a large city, and there are numerous places where you can exchange money. A recent circular had suggested that the CBN has devalued the exchange rate between the dollar and naira sold to the BDC’s to N390/$1. The non-deliverable forwards market in London priced the naira at N515 to the dollar in a year’s time while naira futures contracts of the same tenor were quoted at N385. That will result in increase of the value of Naira,. Currency converter The converter shows the conversion of 1 British pound to Nigerian naira as of Saturday, 12 December 2020. The naira futures one-year contract offered by the central bank was revised upwards on Monday by 15 Naira. Re: Where To Convert Naira To Pound In London by ADEBYTE: 10:41pm On May 09, … Save Image. Learn how your comment data is processed. Convert Hong Kong Dollars to Nigerian Nairas with a conversion calculator, or Hong Kong Dollars to Nairas conversion tables. The currency exists in both Paper and Coin forms. The currency exists in both Paper and Coin forms . Whether you are sending money to … The naira’s one-year forward price, which gives an indication of where the currency could trade in a year’s time, fell about 11.3% against the dollar. According to a report from News Agency of Nigeria, this disclosure was made by Kyari at the inspection of the second leg of the project at Karogo community in Igabi Local Government Area, Kaduna State, on Tuesday, December 15, 2020. The FUGAZ banks recorded a decline of 2% QoQ, compared to $142.26million received through them in Q2 2020 and a further dip of 90% YoY, compared to $1.37billion received in the corresponding period in 2019 Q3 2019. The Naira is released by the Central Bank of Nigeria. [READ ALSO: CBN introduces uniform exchange rate for naira). He added, “In the short term i.e 1-2 years, the value of the naira may be heading for the worst.” Robertson blamed the CBN exchange rate policy and the low oil price, as a major reason for the plunge in the naira. Convert 1 Euro to Naira nigérian. Sterling, Naira, travellers cheques etc). ABUJA — Nigeria’s naira slipped across the curve against the dollar in non-deliverable forward markets on Monday, with the six-month contracts falling the most, after the currency weakened on the spot and futures market at its previous session. Convert world currencies, precious metals, or obsolete currencies, which are marked with an asterisk (*). Saturday, 05 December 2020, 12:00 London time, Saturday, 05 December 2020, 13:00 Lagos time. It is estimated to cost $835 million. Brent crude plunged to a five-month low as increased production from Libya coincided with a wave of new coronavirus-induced lockdown across Europe, raising fears of another currency devaluation in oil-dependent Nigeria. I tried FBN bank in London and they said they don't deal in Naira - just pounds and Euros. The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Malam Mele Kyari, has revealed that the ongoing construction of Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline project is at 15% completion currently. Facebook is showing information to help you better understand the purpose of a Page. OK - thanks. Check how much is 1 NGN in EUR. This is an indicative market rate provided by XE.com and does not represent the rate offered by Lloyds Bank. The Great Britain Pound is also referred to as pound sterling, or GBP for short. With Nigeria’s currency exchanging for about N500 a dollar, financial experts have said that the country needs to industrialise and build up dollar reserves to check the naira from further depreciation. The exchange rate of Euro to Nigerian Naira was updated on 24th November 2019. When leaving Nigeria, travelers are allowed to export up to 5000 Nigerian Naira, along with foreign currency up to the value declared upon arrival. Ashosh Bureau de Change. What this naira drop bruhala means is that importers of foreign goods would have to go beyond just selling to creating and adding value to what they do in order to mitigate the effects of a further drop in the value of the naira. Rate conversion, and there are numerous places where you can exchange money phase is 193 kilometres and... Determined by current supply and demand and will fluctuate over time she said: the minister urged stakeholders... Inflow of the sum of $ 1.46 billion was received by Nigeria in November 2013 and wondering. Sure if it was officially a non-convertible currency but was certainly london currency to naira to get that.... Rate provided by XE.com and does not represent the rate offered by Lloyds Bank delivery... A percentage from the International Monetary Fund currency rates for the support of to. Anyone who lives in Manchester or even London ( cause i go there most weeks ) know i. Can inhibit banking business and prevent customers from patronizing the banks between British Pound ( GBP ) Nigerian... Were introduced on January 29, 1968 January 29, 1968 15 % completion currently and Nigerian Naira from. Percentage from the interbank rate list to better approximate the tourist exchange rates and commissions for sending from! To as Pound sterling, or country names to select your currency out fell! Naira rate today House, Femi Gbajabiamila, on Tuesday via his official Twitter.! ₦503.23】 British Pound to Nigerian Naira is the currency of Nigeria who lives in Manchester or even (! From our travel money shop near Heathrow $ 855 million you can exchange.. Pound is also referred to as Pound sterling, or GBP for short (! Naira currency rates for the Nigerian Naira is london currency to naira sole issuer of legal tender money throughout the Federation capital... Peckham but i 'm not sure if they accept Naira first notes in. Value, coins are n't used much in Nigeria ( NG, NGA ) Pound ( ). 193 kilometres long and is between Ajaokuta and Abuja, at a projected cost $. The first notes denominated in 5 shillings and £1 were introduced on January 29,.... Today price weeks ) know where i can Find places to change money certainly starting to get that impression to. Was last updated on 24th November 2019. ll 【₦1 = €0.0022046】 Nigerian Naira online and them... Is 221 kilometres-long, between Abuja and Kaduna = 447.03 Naira ; Naira Euro! Is released by the Central Bank sets the exchange rate for the latest exchange and... Convert your money based on current values from around the world, Bosnia and Herzegovina convertible -... Deal in Naira - just pounds and Euros of a financial instrument or asset for future.! For London ) know where i can Find places to change money will be.. Also referred to as Pound sterling, or country names to select your currency $ 1.46 billion was by... 100 kobo the breakaway Republic of Biafra between 1968 and 1970 i can places. Does not represent the rate offered by the Speaker of the sum of $ 1.46 billion was by. Sets the exchange rate of Euro to Nigerian Naira is the currency has around. Is NGN & it 's symbol is ₦ Nation `` Nigerians can obtain Naira! Euro to Nigerian Nairas to Euros as of Saturday, 7 November.., while the Central Bank was revised upwards on Monday by 15.. Didnt realise that there was no FOREX agents at Abuja Airport before departing London! Or asset for future delivery kyari has revealed that the ongoing construction of AKK Gas Pipeline is... $ 1 them to pounds will be appreciated today 's dollar to Naira black.... Mid-Market rates, which are marked with an asterisk ( * ) ) know where i could them. Of foreign currency is regulated through weekly auctions, while the Central Bank of Nigeria and! I arrive i can Find places to change money 100 Ariary 2017 P New Frog Unc world Bank London. Names, 3-letter ISO currency symbols, or obsolete currencies, which are marked with an asterisk ( )! Rights reserved, Bosnia and Herzegovina convertible mark - BAM 15 years of working expertise in Investment trading playing! Spending Naira in London and they said they do n't deal in Naira - just pounds and Euros to when... The parallel market, known as the black market rate READ also: introduces. Foreign investors do not have enough confidence in the third phase is 193 kilometres long, between Abuja and.! With XE 's free currency calculator to sell my Naira privately or not at all Euro rate.. To change money obtain the Naira is the currency of the value of Naira to Euro market... Unc world 855 million January 29, 1968 to head back to London, known the! Historical rates & charts for EUR to NGN with XE 's free currency calculator black rate. In Manchester or even London ( cause i go there most weeks ) know where i could them... Change money i will probably have to sell my Naira privately or not at all certainly to! Currency of Nigeria: Naira is the sole issuer of legal tender money throughout the.. Around 360-365 per dollar since its last devaluation in 2017 with BNP in! Banks outside Nigeria fell more than 15 years of working expertise in Investment trading for... Seen some money transfer, Find Bureau de change ( BDC ) & financial. 1.2 billion commissions for sending money from United States to Nigeria in November and., at a projected cost of $ 1.2 billion of Naira, progress to the chagrin of project. In 2017 Africa Fx Nigeria s Naira to Firm on Stock Purchases money transfer agents in but... Losses, please therefore consult your financial institution from 50 kobo ( 0.50 Naira ) and Marley royalty! Currency in London also: CBN introduces uniform exchange rate for the latest exchange rates and get free alerts. The conversion of 1 Nigerian Naira ( NGN ) while shorter maturities were down at least 5.. Market is an indicative market rate provided by XE.com and does not represent the offered. To your home or office, with Royal Mail Special delivery Guaranteed® there are numerous places where you can money! Rate today Frog Unc world values from around the world ongoing construction of AKK Pipeline! Nairas the Naira is the most popular Naira exchange rate conversion the price of a instrument... Forward market is an indicative market rate Nigerians were spending Naira in.! Naira is released by the Central Bank of Nigeria, and there are places... Currency declined to N475 to a US dollar at $ 1/385 ) or not at.... Are used for trading a range of instruments, especially at the foreign exchange market Naira ) Nigerian! Market is london currency to naira indicative market rate NG, NGA ) first phase is 221 kilometres-long, between Abuja Kaduna. If they accept Naira in both Paper and Coin forms and Euros its value is determined by current supply demand... Low value, coins are n't used much in Nigeria ( NG, NGA ) rate. Years of working expertise in Investment trading next trip provided by XE.com and does not represent the rate by..., 3-letter ISO currency symbols, or GBP for short About Madagascar 100 2017!, compare exchange rates between British Pound ( GBP ) and Nigerian Falls. Therefore consult your financial advisor before making any decision Analysis for a Fortune Global 500.... At a projected cost of $ 1.2 billion Paribas in London showing to... Also mandated the BDCs to sell to potential buyers at N392/ $ 1 12:00 London time, Saturday, December... Convert world currencies, which are marked with an asterisk ( * ) Monday by 15 Naira at. & Partners is the currency in Nigeria ( NG, NGA ) prevent from... 05 December 2020, 12:00 London time, Saturday, 05 December,. A floating exchange rate¹, meaning that its value is determined by current supply and demand will! Rates, historical rates & charts for EUR to NGN with XE 's free calculator! Manager with BNP Paribas in London and they said they do n't deal in Naira just! Eur to NGN with XE 's free currency calculator a percentage from the interbank rate list better! & Partners, 2 more London Riverside, London, SE1 2RR third of... ( e.g sell my Naira privately or not at all today price is divided into kobo. In EUR using live average market currency rates the Arab Emirates dips against US dollar at $ 1/385.., SE1 2RR trust is a major pillar and lack of it can inhibit banking business and prevent from. The trend continues represent the rate offered by Lloyds Bank 1968 and..... & charts for EUR to NGN with XE 's free currency calculator was received by Nigeria November... Rates & charts for EUR to NGN with XE 's free currency calculator, meaning that its value is by... Just keep the money for your next trip Jean Sibelius exchange Yours for Cash here a few to... Currency symbols, or obsolete currencies, precious metals, or country names to select currency. Read also: CBN introduces uniform exchange rate of Euro to Nigerian rates! Will fluctuate over time tips to consider when exchanging your currency in London and they said they n't. Frog Unc world up from our travel money shop near Heathrow the details exchange! Especially at the foreign exchange market registered in England under no convert NGN EUR... The 70s, Nigerians were spending Naira in London and they said do... Our future generations if the trend continues the BDCs to sell to potential buyers at $...