These were the rates obtainable from the Nigerian Foreign exchange market based on our research from April 18 to April 21, 2017.
Everdon Bureau De Change Dollar black market rates:
21/04/2017: 376/ 388
20/04/2017: 375/ 384
19/04/2017: 385/ 400
18/04/2017: 400/ 407
Everdon Bureau De Change Pound black market rates
21/04/2017: 485/ 498
20/04/2017: 480/ 500
19/04/2017: 485/ 501
18/04/2017: 490/ 501
Everdon bureau de change Euro black market rates
21/04/2017: 400/ 413
20/04/2017: 400/ 420
19/04/2017: 410/ 432
18/04/2017: 420/ 433
Visit current exchange rate of the euro against the naira in black market for the latest and current exchange rates in the Nigeria black market.
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Everdon Bureau de Change is a foreign exchange company headquartered in Lagos, Nigeria.
Through them, businesses and individuals can place orders and broker foreign currency transactions more conveniently than ever before.
Everdon Bureau de Change trade in major global currencies, including the US dollar, UK pound sterling and the Euro.
The Association of Bureau De Change Operators has said it is working with the Central Bank of Nigeria for the dollar sale to BDCs to be increased to $15,000 weekly.
The CBN, had through the International Money Transfer Organisations, resumed the sale of dollars to BDCs in January, after stopping it for almost a month due to the Yuletide holiday.
The President, ABCON, Alhaji Aminu Gwadabe, told a PUNCH Newspaper correspondent on Wednesday that the CBN had cleared 3,114 BDCs for this week’s collection of the proceeds of IMTOs.
He said, “The volatility in the market is evidenced of the scarcity at the BDCs sub-sector despite the injection of liquidity in the interbank market.
“ABCON is working with the CBN for review of volumes for the BDCs next week from the present volume of $8,000 per week to $15,000 weekly from the beginning of next week.”
He warned ABCON members not be involved in hoarding and speculation as “the apex bank is determined to smoke speculators and hawkers out of their holes”.
There are at present, 35 licensed IMTOs approved by the CBN which include Aftab Currency Exchange Limited, AWS Malta Limited, Caperemit UK Limited, Centrexcard Limited, Colony Capital Limited among others.
Others are Ria, Western Union, MoneyGram, WorldRemit RANS-Fast Remittance, UAE Exchange Center LLC, Wari limited, and Home Send S.C.R.L among others to help Nigerians in Diaspora remit dollar home and boost dollar liquidity.
The CBN said on Wednesday it would sell $100m in currency forwards on the interbank market to clear a backlog of dollar demand from business and individuals.
According to Reuters, the bank said in a note to commercial lenders that the intervention would require lenders to submit single bids to cover their demand for hard currency. The sale will be settled within 60 days.
The central bank has intervened on the forex market in the past two weeks as it attempts to narrow the spread between Nigeria’s official and black market dollar rates.
In addition, the Central Bank of Nigeria (CBN) on Tuesday March 14, 2017 gave a lift to Nigeria’s local currency the naira with a fresh supply of 195 million dollars to the foreign exchange market.
The CBN acting Director, Corporate Communications, Mr Isaac Okorafor, who gave a breakdown of the release, said 150 million dollars went to wholesale auction.
He said that the remaining 45 million dollars went for medicals, tuition, Personal and Business Travel Allowance.
Okorafor said that the Bank acted promptly and proactively in line with its promise to keep the market liquid enough to meet the needs of genuine requests.
He said that banks were becoming saturated with foreign exchange, as most of them were now able to meet demands within the stipulated time frame.
“As you can see all the pent-up demand for invisibles have been met, to the extent that banks are urging customers to come and obtain forex,” he said.
Okorafor reiterated the bank’s determination to continue to fund the importation of raw materials, plants and machinery for manufacturing, agriculture, and other eligible items.
He also assured that the apex bank remained resolute in ensuring stability in the forex market by keeping an eye on the activities of authorised dealers in order to ensure sharp practices were reduced to the barest minimum.
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