NIGERIAN CURRENCY TO USD INR GBP EURO CAD AED BLACK MARKET EXCHANGE RATE

This post is an all-in-one post that place the Nigerian currency (Naira) side by side with other major currencies of the world to see it strength Plus a brief overview of the Nigerian currency.

THE NIGERIAN NAIRA EXCHANGE RATE AGAINST MAJOR CURRENCIES OF THE WORLD { The Rates are Updated Daily }

1. NIGERIAN CURRENCY TO USD { NIGERIAN NAIRA TO UNITED STATES DOLLAR }

Nigerian Currency to USD : $ 1 = # 455 { Buy }
Nigerian Currency to USD : $ 1 = # 465 { Sell }

The Nigerian Naira had in the past few months been doing down the drain as opposed to the United States dollar. The United States dollar shortformed as USD is the most popular currency in the world and most used in international transactions. It is also known as the buck or greenback.

2. THE NIGERIAN NAIRA TO BRITISH POUND STERLING

Nigerian Currency to GBP : £ 1 = # 548 { Buy }
Nigerian Currency to GBP : £ 1 = # 555 { Sell }

The British Pound Sterling (GBP) Simply known as pound is the official currency of the United Kingdom of Great Britain and Northern Ireland. This currency is the 4th most-traded currency in the foreign exchange market. There’s a high exchange of this currency with the Nigerian Naira as many Nigerians lives in UK and Exchange money with their family over here.

3. THE NIGERIAN NAIRA TO CANADIAN DOLLAR

Nigerian Currency to CAD : $ 1 = # 321 { Buy }
Nigerian Currency to CAD : $ 1 = # 330 { Sell }

Many people are well aware of the United States dollar, but just a few are aware of the dollar of it North American counterpart, Canada. The Canadian dollar (C$) has been the currency of Canada since 1858.

4. THE NIGERIAN NAIRA TO EURO

Nigerian Currency to EURO : € 1 = # 485 { Buy }
Nigerian Currency to EURO : € 1 = # 500 { Sell }

The EUR was introduced in 2002 and is used in the euro zone which is made of about 19 countries. These includes Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, the Netherlands, Portugal, Slovenia, Slovakia, Estonia, Spain, Cyprus and Malta.

5. NIGERIAN CURRENCY TO INR { NIGERIAN NAIRA TO INDIAN RUPEE }

Nigerian Currency to INR : 1 INR = # 4.9 { GTBank Rate }
Nigerian Currency to INR : INR 1 = # { I. Rate }

The Indian Rupee is also one of the major currencies the Nigerian Naira is converted into. It is the currency of India and known as the Indian Rupee, roopayi and rupaye.

6. THE NIGERIAN NAIRA TO UNITED ARAB EMIRATES DIRHAM

Nigerian Currency to AED : AED 1 = 465
Nigerian Currency to AED : AED 1 = –

The United Arab Emirates Dirham (AED) was introduced in 1973 as currency for the 7 countries that makes up the United Arab Emirates which are; Abu Dhabi, Ajmān, Dubai, Fujairah, Ras al-Khaimah, Sharjah, and Umm al-Quwain.

NIGERIAN CURRENCY – { WHAT IS NIGERIAN CURRENCY NAME }

The Nigerian currency is the Nigerian Naira, introduced on 1 January, 1973 to replace the Pound and have the (₦) as symbol and NGN as code. The Central Bank of Nigeria (CBN) is the sole issuer of the Nigerian currency. This currency is divided into 100 kobo though, the least available hard currency of the Nigerian Naira is N5. The others available are; 10, 20, 50, 100, 200, 500 and 1000 Naira, which are available in Banknotes. It may be argued that coins are also part of the Nigerian currency and are in 50 Kobo, 1 & 2 Naira but I tell you this, no one spend it in the country currently.

The currency is printed by the Nigerian Security Printing and Minting Company Limited. Talking of the inflation rate, the inflation rate of the Nigerian Naira is put at over 17.1%, this is the highest so far, compared to some years back.

NIGERIAN CURRENCY HISTORY / HISTORY OF THE NIGERIAN NAIRA

The history of the Nigerian currency that’s the Naira can be traced to 1 January, 1973 when it officially became the legal tender used in Nigeria. Since it introduction, it had gone through series of reforms and changes. As at when it was introduced, N20 was the highest denomination of the currency. In 1979, N1, N5 and N10 was introduced all as a banknote, just as the N20. 50K and N1 were transformed to coins in 1991. By 1999, N100 was introduced, followed by N200 in the year 2000, N500 in 2001 and N1000 in 2005.

On February 28th 2007, N5, N10, N20 and N50 was transformed from paper to leather.

IMAGES / PICTURES OF NIGERIAN CURRENCY NOTE / SYMBOL – ₦

Their Nigerian Currency Symbol is Naira ” ₦ ” , Naira Notes Image and Picture Bellow

All Images / Pictures of Nigerian currency to USD

THE NIGERIAN CURRENCY DEVALUATION / NAIRA DEVALUATION

The Nigerian Currency devaluation is the deliberate act of reducing the value of the Nigerian Naira against major currencies of the world. There had been a major roar in the Nigerian cyber space last year and early this year that the Nigerian Naira had been officially devalued. Well, no official statement to confirm this yet but if any of such had happened, then export would be cheaper, import would be at more cost while inflation rate would be high. Well, all these are what is currently happening in the country.

That’s all on Conversion of Nigerian Curency to USD INR EURO GBP AED CAD exchange Rate Black Market / Parallel Market , share your thoughts and suggestions with us through the comment box and like us on facebook @ facebook.com/9jaquest or follow us on twitter @ twitter.com/NaijaQuest

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