Black market news: euro to naira rate today Nov 7, 2016

Welcome to newsbeatportal.com where you will get information on the current Nigeria Black market exchange rates of dollar to naira, pound and naira, and the euro vs naira.

For more updated rates, click on our latest black market update page below.

Euro Exchange Rate – EUR Rate to Nigeria Naira Exchange Rate – NGN rate in black market:

EUR/NGN: BUY / SELL
490/ 510

On Friday October 7, 2016, Travelex commenced the sales of FOREX to Bureau De Change operators in the country, and immediately started selling directly to travellers to further boost liquidity in the market and aid economic activities.

Samed Olukoya, a foreign exchange research analyst at Investors King Limited, said “If the CBN and Travelex can sustain the current arrangement it, will help fight speculation and gradually prop up the Naira value against the dollar, pound, and euro.”

According to Aminu Gwadabe, the president of the Association of Bureau De Change Operatots, improvement in the Naira value would discourage the patronage of unlicensed parallel market traders.



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