Euro To Naira Exchange Rate Black Market Today – April 2017 (1 EUR to NGN)

Here is the KikioTolu daily update on the Euro to Naira exchange rate in the black market (April 2017). This page has been setup to make it easier for you to view the Euro to Naira exchange rate today so yoy can easily convert the currencies and know how much you have in Naira. See details below

Euro to Naira Black Market Exchange Rate Today — April 2017

• Buy: 1 EUR = 460 NGN
• Sell: 1 EUR = 465 NGN

As you can see from the above figures the naira seems to have gained in recent weeks when exchanged with foreign currencies though the biggest gains have been seen in the naira to dollar exchange rate.

Why is the Euro to Naira Exchange rate in the Black Market That High

Exchange rates are not static and determined by the simple demand and supply rule. We Nigerians are a set of people that love to buy foreign things. We prefer foreign products to local ones. This habit has really been affecting the value of our dear Naira since it came into existence. This trend is on the rise and is affecting our Naira exponentially. Euro is now a giant to Naira. Well it’s not surprising as Euro is used by over 18 European countries. They include: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. Enough of the introduction. Do you ever wonder why too much buying of foreign products is affecting us?

The exchange rate of any currency pair (e.g. EUR to NGN) is not decided by any central body. It is based on the simple demand and supply principle. I am not teaching economics here, but this is the principle behind the whole thing. To make it simpler, lets give an illustrarion. Assuming you are the manager of a company, and the company wants to embark on a project that would bring huge long term profit. The only thing standing in your way is money. One afternoon, after thinking of ways to get the money needed, two men suddenly walked into your office. They seem to hate each other. They both said they want to buy one of your products, but you have only one left. Who do you sell to? And how do you choose your buyer? This must sound really funny. If men like Bill Gates were in this kind of situation, it’s easy to predict what they would do. They would simply start increasing the price of that product until one of the two men can’t afford it. This is exactly what is happening to our dear Naira. Too much Nigerians are buying products and pay in Dollar via agents (e.g. Banks). Their agent deduct the amount of Naira that is equal to Dollar, and in turn pay the seller in Dollar. When too many people are after the same thing, you should expect something like this to happen. The demand of Dollar by Nigerians is too much, so the amount of Naira we pay for Dollar is increasing.

A very clear way of helping the situation is by reducing the rate at which we buy foreign products. Companies should strive towards producing quality items, while consumers should cultivate the habit of buying local products when it satisfies them.

As we all know there are not just the Euro to Naira exchange rates in the black market. There are also other top currencies in which the Naira is exchanged daily and on other platforms apart from the Black market. Lets give you those details. So you can get all you need on Naira exchange rates on one page.

Dollar to Naira Exchange Rate Today April 2017 — 1 USD to NGN

AbokiFX Dollar to Naira Exchange Rate Today April 2017 — 1 USD to NGN

• Buy: 1 USD = 380 NGN
• Sell: 1 USD = 400 NGN

Black Market Dollar to Naira Exchange Rate Today

• Buy: 1 USD = 380 NGN
• Sell: 1 USD = 400 NGN

Official CBN Dollar to Naira Exchange Rate Today

• 1 USD = 307 NGN

GTB Dollar to Naira Exchange Rate Today — April 2017 (Online and ATM)

• 1 USD = 320 NGN

Access Bank Dollar to Naira Exchange Rate Today — April 2017 (Online and ATM)

• 1 USD = 325 NGN

Western Union Dollar to Naira Exchange Rate Today

• 1 USD = 370 NGN

Euro to Naira Exchange Rate Today April 2017 — 1 EUR to NGN

AbokiFX Euro to Naira Exchange Rate Today March 2017 — 1 EUR to NGN

• Buy: 1 EUR = 460 NGN
• Sell: 1 EUR = 465 NGN

Black Market Euro to Naira Exchange Rate Today

• Buy: 1 EUR = 460 NGN
• Sell: 1 EUR = 465 NGN

Official CBN Euro to Naira Exchange Rate Today

• 1 USD = 329 NGN

GTB Euro to Naira Exchange Rate Today — April 2017 (ATM and Online)

• 1 EUR = 348 NGN

Western Union Euro to Naira Exchange Rate Today

• 1 EUR = 394 NGN

AbokiFX Pounds to Naira Exchange Rate Today April 2017 — 1 GBP to NGN

AbokiFX Pounds to Naira Exchange Rate Today March 2017 — 1 GBP to NGN

• Buy: 1 GBP = 525 NGN
• Sell: 1 GBP = 530 NGN

Black Market Pounds to Naira Exchange Rate Today

• Buy: 1 GBP = 525 NGN
• Sell: 1 GBP = 530 NGN

Official CBN Pounds to Naira Exchange Rate Today

• 1 GBP = 379 NGN

GTB Pounds to Naira Exchange Rate Today

• 1 GBP = 399 NGN

Western Union Pounds​ to Naira Exchange Rate Today

1 GBP = 459 NGN
There you have it on “Euro To Naira Exchange Rate Black Market Today – April 2017 (1 EUR to NGN).” As we all know, exchange rates are not static so this post is going to be updated frequently to give you the daily updates on the Euro to Naira exchange rates today.