Euro (EUR) To Naira (NGN) Black Market Rate Today (November 28, 2024)

Euro (EUR) To Naira (NGN)
Euro (EUR) To Naira (NGN)

Euro (EUR) To Naira (NGN) Black Market Rate Today

Euro (EUR) To Naira (NGN) Black Market Rate Today: Are you wondering how much is the exchange rate of Euro (EUR) To Naira (NGN) in the Black Market?

Do you intend to buy euros as a Nigerian but you do not know how much is the exchange rate in Black Market? Well, we’ve got you covered on it as we will provide the latest update on the exchange rate of Euro to Naira in the Black Market today.

Euro (EUR) To Naira (NGN)
Euro (EUR) To Naira (NGN)

It is important to note that the Euro to Naira exchange rate is being updated based on the exchange rate in Lagos and Abuja respectively rather than the Abokifx exchange rate. So if you have interest in buying a Euro, you will be getting it at the rate of N1230 at the Black Market.

For those who have Euro’s to exchange, you will be exchanging it at the rate of N1240. Due to the fact that we give updated information, we had to check the rate sellers are selling Euro’s to Naira exchange rate at Lagos and Abuja.

However due to the high research made, we have come to discover that you can sell your Euro’s at the rate of N1240 and buy the Euro’s at the rate of N1230.

If you wish to get more information on the Black market exchange rate of Euro’s to Naira, then you are on the right page. In this guide, I will provide insights on Euro to Naira (₦) Black Market Rate Today. To get more insights, I suggest you stay on this page as all information will be provided below.

 

Euro (EUR) To Naira (NGN) Black Market Rate Today

In Black market today, we have come to discover that you can sell your Euro’s at the rate of N1240 and buy it at the rate of N1230.

This also means if you have about €1000 which you intend to exchange for Nigeria’s Currency, you will approximately exchange it at the rate of N1,245,000 and if you want to get €1000, you will be charged N1,230,000.

Selling Rate ₦1240
Buying Rate ₦1230

 

From the exchange rate, we can see that Nigeria is facing a serious devaluation of its currency despite the constant intervention by the Central Bank of Nigeria.

We have also come to discover that the Central Bank of Nigeria (CBN) has not officially recognized or approved of selling or buying of any Currency in the black market, they would prefer you visit any recognized bank if you intend to buy or sell Euro’s.

It has also been made known that Exchange rate at the black market is always more expensive than that of the bank. So if you intend to buy or sell a Euro, you need to choose wisely where you intend to exchange any currency.

Euro to Naira Currency

Amount in Euro (€) Black Market Euro to Naira (Naira)
1 Euro to Naira 1,230
5 Euro to Naira 6,150
10 Euro to Naira 12,300
20 Euro to Naira 24,600
50 Euro to Naira 61,500
100 Euro to Naira 123,000
200 Euro to Naira 246,000
300 Euro to Naira 369,000
400 Euro to Naira 492,000
500 Euro to Naira 615,000
600 Euro to Naira 738,000
800 Euro to Naira 984,000
1000 Euro to Naira 1,230,000
5000 Euro to Naira 6,150,000
10000 Euro to Naira 12,300,000

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 Naira to Euro Currency

Amount in Naira Black Market Rate in Euro (€)
1 Naira to Euro (EUR) 0.001
5 Naira to Euro (EUR) 0.004
10 Naira to Euro (EUR) 0.008
20 Naira to Euro (EUR) 0.016
50 Naira to Euro (EUR) 0.041
100 Naira to Euro (EUR) 0.081
200 Naira to Euro (EUR) 0.163
300 Naira to Euro (EUR) 0.244
400 Naira to Euro (EUR) 0.325
500 Naira to Euro (EUR) 0.407
600 Naira to Euro (EUR) 0.488
800 Naira to Euro (EUR) 0.650
1000 Naira to Euro (EUR) 0.813
5000 Naira to Euro (EUR) 4.065
10000 Naira to Euro (EUR) 8.130

 

We have now discovered that those who intend to travel to Europe, need to actually save a lot of money you will have to start by exchanging your Naira for Euro which will actually cost a lot to get Euro currency which might likely not favor some people who had plans of travelling there.

It is also important to note that when seeking for whom to exchange Naira to get Europe’s currency; you have to be very careful as we have those even in the black market that would want to scam you, go to where you are sure of.

You can search online or even in person for a reputable person but this does not guarantee that the person is trustworthy, do well to ask questions or greet information around where you can easily exchange any currency you wish to exchange.

Check: Top 10 Cheapest Universities in Nigeria

Tips for Exchanging Euros for Naira on the Black Market

Here are guidelines you can follow to easily exchange your Euros for Naira.

  • Firstly, you need to get a reputable dealer in order to exchange your Euro to Naira.
  • When you might have found someone, do well to ask for a written receipt for the exchange.
  • Do well to get the latest updates on the current Euros to Naira Black market Exchange rate before you exchange your currency.
  • Try as much as you can not to exchange large amounts of Euro currency at once. Even if you desperately need it, do not make all exchanges at once.

 

Factors Affecting Euro’s to Naira Black Market Rate

Here are some factors that can affect the Euro’s black market Exchange Rate.

The Value of the US Dollar: If the exchange rate for dollar rises, it also means that the exchange rate of Euro will automatically rise. If the dollar exchange rate is low in the black market, they will increase how much exchange rate they get from exchanging Europe’s currency but if it is high, the exchange rate will keep rising.

Supply and demand for the Euro: If the demand for the Euro in Nigeria is high, the exchange rate will automatically increase and it will favor the European country this is due to the fact that the high demand for their currency will only mean the currency is being valued in Nigeria.

 

To Sum Up

If you are interested in knowing the exchange rate of the Euro to the Naira, well it has been discovered that when selling your Euro to get Naira, you will exchange it at the rate of N1240 but if you are buying you will get it at the exchange rate of N1230. If you wish to get more information on this, you can scroll up and read through it. If you have any difficulties, kindly DROP A COMMENT and we will reply.

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Author

  • Dora

    This post is authored by Dora Edet, an Editor of Recruitment Portfolio. Boasting over a decade of expertise in the recruitment sector, Dora provides up-to-date information on jobs and recruitment topics, career opportunities, and breaking news stories.

About Dora 343 Articles
This post is authored by Dora Edet, an Editor of Recruitment Portfolio. Boasting over a decade of expertise in the recruitment sector, Dora provides up-to-date information on jobs and recruitment topics, career opportunities, and breaking news stories.

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