Last Updated on January 18, 2024 by Twinbrodas
There are two different Pounds to Naira exchange rate today. The official exchange rate which is set by the Central Bank of Nigeria, And the black market exchange rate which is determined by street vendors and money changers.
So, If you need to change your pounds to naira, You only have two options. You either use the black market, Or should you go to the bank. The black market exchange rate for pounds to naira is usually about 20% higher than the official rate that is set by the Central Bank of Nigeria (CBN). This means that if you change your money at the black market, you’ll get much nairas for your pounds. However, this option is often faster and more convenient than going to the bank. If you decide to go to the bank, the exchange rate will be lower. If you want to change your Dollars, You can check out the Dollar to Naira Exchange Rate Today Both Black Market and CBN Exchange Rate
The difference between the two rates can be much, so it’s important to be aware of both options. In this post, we will show you the two rates in which Pounds is Exchanged to Naira Today.
Pounds to Naira Exchange Rate Today : Black Market
The black market or parallel market rate for pounds to naira today is 758 naira per pound. This is the rate you would get from street vendors known as Exchangers or through unofficial channels.
Pounds to Naira Exchange Rate : CBN Rate
The current official exchange rate for pounds to nairas is 553 nairas per pound. This is the rate you would get at the bank or any other official financial institution.
The below Table Shows the current Pounds To Naira Exchange Rate Today. Black Market/CBN
GBP to Naira Black Market Rate Today
|Pounds to Naira (GBP to NGN)
|Black Market Exchange Rate Today
|Pounds to Naira (GBP to NGN)
|CBN Official Exchange Rate Today
It’s important to note that the black market rate is always higher than the official rate. So, if you’re looking to get the most nairas for your pounds, you should go through Black Market channels.
The Difference Between the Black Market and the CBN Exchange Rates
The black market is a term used to describe the unofficial exchange rate. This is the rate you will find when you go to exchange your pounds into nairas on the street. The CBN (Central Bank of Nigeria) exchange rate is the official rate. This is the rate that the CBN uses when it buys and sells nairas. The difference between the two rates is usually pretty significant, so it’s important to know which one you’re getting your money exchanged at.
How to Get the Best Pounds to Naira Exchange Rate
It can be hard to keep track of the latest exchange rate and know when to buy your pounds. Here are a few tips to help you get the best rate:
First, always compare rates between the black market and the CBN. The black market typically offers a better deal, but it’s important to be aware of scams. Make sure you’re dealing with a reputable dealer.
Secondly, try to buy your pounds as close to the actual exchange rate as possible. This means avoiding currency conversion fees, which can eat into your profits. There are two main ways to exchange your pounds for nairas – through the black market or through the CBN. The black market Pounds to Naira Exchange Rate is usually better, but it’s also more risky as there’s no guarantee of safety or security. The CBN Pounds to Naira Exchange Rate is more reliable, but the exchange rate is very low compared to the black market exchange rate. So, which one should you choose? It all depends on your needs and budget. If you’re looking for the cheapest option, then the black market is the way to go. If you’re looking for the most reliable option, then the CBN is the way to go
Aboki Pounds to Naira Exchange Rate Today
The Aboki rate for pounds to naira today is 758 naira per pound. This is the rate you would get from street vendors known as Exchangers or through unofficial channels.
FAQs About the Pounds to Naira Exchange Rate
What is the current exchange rate for pounds to naira?
The current exchange rate for pounds to naira is about N507 for official rate and 758 nairas to the pound. This may change depending on the market conditions, so it’s always best to check the latest rates before making any transactions.
Is it better to exchange money at the black market or at the bank?
I can’t give you any straight answer to this question. So it really depends on your individual situation. Generally speaking, however, exchanging money at the black market tends to be better than going through the bank.
How much is 1£ to Naira Today?
The official Pound to Naira exchange rate is currently at around N537.81 to £1. However, on the black market you can get a better rate of around N758 to £1.
How Much is £100 to Naira Today?
When calculating using the official Pounds to Naira Exchange Rate Today, £100 is worth 53,700 Naira. But when calculating using the Pounds to Naira Black Market Exchange, £100 is worth 75,800 Naira.
If you need to exchange your Pounds for Nairas, it might be worth checking the black market and CBN rate on our website before going to the bank or Exchange/Aboki.
Originally posted 2022-11-01 11:58:22.