Naira black market rates for December 29, 2016

Dollar Exchange Rate to Nigeria Naira Exchange Rate in the black market: 482/ 490

Euro Exchange Rate to Nigeria Naira Exchange Rate in black market today: 495/ 502

Pound Sterling Exchange Rate to Nigeria Naira Exchange Rate in black market: 580/ 590

Nigeria’s naira is set to witness another round of decline against the dollar in the days ahead as an increase in dollar flows from Nigerians living abroad coming home for holidays fell short of expectations, traders said.

Scarcity of forex continues to exert enormous pressures on the Naira.

“We see the naira depreciating against the dollar by the time more businesses resume operations next week after the festive season as dollar liquidity remains thin in the market,” one currency dealer said.

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