Naira to Pounds Exchange Rate Today Black Market & CBN.
Bookmark this page for daily update of 1 Pounds to Naira both in black market and CBN official GBP £ (Great Britain Pounds) to NGN N (Nigerian Naira) bank rate. Naira to pounds black market, current bank exchange rate today November 2018. How much is naira to pound exchange rate black market.
We all know Nigerians are everywhere across the globe, but the percentage in the UK, US and Canada are much more than the rest of the world combined. Convert naira to pounds using the exchange rates below.
Exchange Rate Today in Black Market.
- Buying = 1 Pound to N465.
- Selling = 1 GPB to N470.
Official/CBN GBP to Naira Exchange Rate Today.
- Buying = 1 Pound to N397.5284.
- Selling = 1 Pound to N398.829.
This article is for Nigerians that are currently in the UK for Vacation, Education, Business, Importation etc to stay updated on the current exchange rate of the Pound to Naira Today. It will be updated daily to reflect recent changes.
Table of Contents
- 1 Naira to Pounds Exchange Rate Today Black Market & CBN.
- 2 Pounds to Naira Exchange Rate Today November 2018 (Official and Black Market).
- 3 Pound & Naira Exchange Rate History (1 GBP to Naira).
Pound is the official currency of the UK and some other countries which include Egypt, Lebanon, South Sudan, Sudan, Syria etc. It is one of the strongest (in value) and most traded currencies in world. Pounds was also once the official currency in Nigeria between 1958 to 1973 when it was replaced by the Naira.
Pounds to Naira Exchange Rate Today November 2018 (Official and Black Market).
Considering the current economic situation of Nigeria, it becomes extremely important to know the current official and black market exchange rate of GBP to Naira before initiating any transactions online.
Most Nigerian bank buy at official rate, but sell at the black market rate. What this simply means is that most banks will calculate with official rate when you receive foreign currency to your savings account but charges you at the black market rate when you shop on foreign sites with your Naira master card.
Pound Sterling is not the only powerful currency fluctuating against the Naira, the Dollar to naira and Euro to Naira too does. Above are Pound to Naira rate Today in black market and official exchange rate of GB Pound to NG Naira.
Little among numerous reasons the Naira value is on free fall are:
- High importation rate because of too much dependence and love for foreign products.
- High demand for dollar, which makes it scarce and in turn affects Naira.
- One major source of revenue. The fall in the global oil price affects Nigeria economy because it accounts for over 70% of our total revenue.
Pound & Naira Exchange Rate History (1 GBP to Naira).
- Between October 1 and 31, the naira strengthen against the pound from N406 – N383.
- This is the trend within September 2016 N413 – N405.
- Here is for August 2016 N420 – N409.
- Between July 1 and 31, the naira fall from N314 to N420.
- Here is for June 2016. N286 – N375.
- May 2016 1 GBP to N290 – N288.
There you have it on how much is pounds to Nigeria naira today official and black market exchange rate. Kindly share this article using the social sharing buttons below.