AbokiFX: Naira to Pounds Sterling Black Market, Bank Rate Today, Saturday, July 15, 2023
According to Central Bank of Nigeria official website, the Pounds Sterling to Naira bank rate is selling at NGN1011.5646/£1 and buying at NGN1010.2534/£1 as of today, Saturday July 15, 2023.
What is the exchange rate for Pounds Sterling and Nigerian naira in the parallel market, commonly known as the black market (Aboki fx)?
See below for today’s (Saturday, July 15, 2023) black market pounds-to-naira conversion rate. At current exchange rates, you may convert pounds sterling to naira.
How much is the Pounds Sterling to Nigerian naira exchange rate today, Saturday, July 15, 2023?
Please be aware that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) and has advised anybody interested in forex to contact their local banks first.
The black market (parallel) exchange rate is always different from the CBN rate. The Nigerian economy is greatly impacted by the exchange rate between the Pounds Sterling and the Nigerian naira.
As the Naira’s value declines, inflation takes hold of the economy, which typically has an impact on the general public. According to the Central Bank, the economy of the nation needs a significant turnaround. They have urged Nigerians to work toward this goal by, for example, increasing exports.
Pounds prices on the black market are usually higher than those set by the Central Bank of Nigeria (CBN).
The rate at which you can buy or sell pounds for naira on the CBN’s website, cbn.gov.ng, is known as the exchange rate.
Pounds Sterling to Naira black market rate today, Saturday, July 15, 2023
| Pounds Sterling to Naira (GBP to NGN) | Black Market Exchange Rate Today |
|---|---|
| Selling Rate | 1090/£ |
| Buying Rate | 1110/£ |
Factors Influencing Foreign Exchange Rates
- Conditions of Trade
- Speculators
- Government Debt
- Interest Rates
- Inflation Rates
