In today’s dynamic foreign exchange market, the black market rates for various currencies continue to fluctuate. As of July 17, 2023, here are the latest rates for USD, EUR, GBP, CAD, ZAR, and GHC against the Nigerian Naira:
- Dollar to Naira (USD to NGN): Buying Rate – 810 NGN, Selling Rate – 815 NGN
The US Dollar remains a popular currency in Nigeria, with the buying rate at 810 NGN and the selling rate at 815 NGN. This reflects the demand and supply dynamics in the black market.
- Pound to Naira (GBP to NGN): Buying Rate – 1,035 NGN, Selling Rate – 1,050 NGN
The British Pound maintains a favorable position against the Naira, with a buying rate of 1,035 NGN and a selling rate of 1,050 NGN. It continues to be a sought-after currency for individuals and businesses.
- Euro to Naira (EUR to NGN): Buying Rate – 870 NGN, Selling Rate – 885 NGN
The Euro remains an important currency in Nigeria, with a buying rate of 870 NGN and a selling rate of 885 NGN. This indicates the value of the Euro against the Naira in the current market conditions.
- Canadian Dollar to Naira (CAD to NGN): Buying Rate – 670 NGN, Selling Rate – 680 NGN
The Canadian Dollar holds a moderate position in the black market, with a buying rate of 670 NGN and a selling rate of 680 NGN. Its value against the Naira reflects the prevailing economic factors.
- South African Rand to Naira (ZAR to NGN): Buying Rate – 45 NGN, Selling Rate – 50 NGN
The South African Rand experiences varying rates against the Naira, with a buying rate of 45 NGN and a selling rate of 50 NGN. The exchange rate is influenced by factors affecting both economies.
- Ghanaian Cedi to Naira (GHC to NGN): Buying Rate – 60 NGN, Selling Rate – 70 NGN
The Ghanaian Cedi has a lower exchange rate against the Naira, with a buying rate of 60 NGN and a selling rate of 70 NGN. This indicates the value of the Ghanaian Cedi in the current market climate.
It is essential to note that these rates are indicative of the black market and may differ from official exchange rates. Individuals and businesses involved in foreign exchange transactions should exercise caution and remain updated with the latest market trends.
Please note that these rates are subject to change due to market fluctuations and other factors. It is advisable to consult reliable sources or financial institutions for real-time exchange rates.
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