Last Updated on February 1, 2024 by Twinbrodas
Welcome to our blog Gistbriefly.com. In this post, we will be talking about the Euro to Naira exchange rate Today. How much Euro is being exchanged in the black market and Banks. We will compare the black market rate, CBN rate, and also provide a brief description of each. If you want to exchange your Euro for Naira, you have a few different options. You can go to the black market, where you will likely get a better exchange rate, or you can go to the bank, where the rates will be more regulated. No matter which one you choose, it’s important to do your research and compare rates before making any decisions. If you wish to change your Dollars or Pounds too, you can check out the Dollar to Naira Exchange Rate Today or Pounds to Naira Exchange Rate Today.
The Current Exchange Rate of the Euro to the Naira Today
The official exchange rate is maintained by the Central Bank of Nigeria (CBN). The CBN sets a fixed exchange rate for the Naira against major currencies like the US dollar and the British pound.
However, this official rate is not what you will get if you try to exchange your Euros for Nairas on the black market. The black market rate is what you will typically get if you go to a currency trader on the street. It’s much higher than the official rate. Black market rate has been as high as 20% higher than Bank rate in recent months. So if you want to exchange some Euros for Nairas, it might be worth checking out the black market first.
Euro to Naira Black Market Exchange Rate Today
Euro to Naira exchange rate today on the black market is N1,450 to €1 for selling rate and N1,470 to 1€ for buying rate.
Euro To Naira CBN/Bank Exchange Rate Today
The official CBN Euro To Naira rate is N556 to €1 for selling rate and N555 To €1 for buying rate.
Below is the table showing Both Naira to Euro Black Market Exchange Rate Today and Banks Exchange Rate Today
Euro to Naira Black Market Rate Today
| Euro to Naira (EUR to NGN) | Black Market Exchange Rate Today |
| Selling Rate | 1,470 |
| Buying Rate | 1,450 |
| Euro to Naira (EUR to NGN) | CBN Official Exchange Rate Today |
| Selling Rate | 856 |
| Buying Rate | 855 |
The black market exchange rate is the unofficial exchange rate. It is the rate you’ll find if you ask around for rates on the street, and it’s usually much higher than the official CBN (Central Bank of Nigeria) rate. This simply means that you can get an extra 595 Naira for every €1 exchanged on the black market, as compared to the official CBN rate.
The CBN rate is the rate that the government sets and is used for all official transactions. You can get this rate at the bank, or through a currency converter online.
When changing your Euro to Naira, the black market exchange rate may be worth considering. Just make sure you know the dealer you are dealing with and avoid getting scammed.
The black market exchange rate is always more favorable than the CBN rate, so if you wish to exchange your euros for naira, we recommend doing so on the black market.
Aboki Euro to Naira Exchange Rate
Aboki Euro to Naira exchange rate today on the black market is 1,450 Naira to 1 Euro.
Euro to Naira Bank Rate Today
The Euro to Naira exchange rate today on the official CBN rate or bank rate is about 855 Naira to 1 Euro.
The difference between the black market and CBN rate today is about 595 Naira to 1 Euro.
1€ To Naira Exchange Rate Today
Right now, the current exchange rate for 1€ to Naira is N1,450 on the black market. However, the official exchange rate set by the Central Bank of Nigeria (CBN) for 1€ to Naira is N856.90. This is the rate you’ll get when exchanging your money at a bank or an authorized currency exchanger.
How Much is €100 to Naira Today?
When exchanging your Euro using the black market exchange, €100 is worth N145,000. When converted using the CBN rate, it’s worth N85,500.
The black market exchange rate is always higher than the official rate because there’s a risk taken by those who trade on it. This is why it is recommended to exchange your money on the black market.
The Euro to Naira exchange rate has been fluctuating a lot lately. The black market rate is currently higher than the CBN rate. However, the CBN rate is more stable and it’s likely that it will stay that way for a long time.
Originally posted 2022-11-01 11:58:22.
