Current value of naira news

The current value of the Nigerian Naira (NGN) can fluctuate constantly, so I'll provide you with the latest information available. Please note that exchange rates may vary depending on the source and the time of day.

Current Exchange Rate (as of [current date]):

1. USD/NGN (US Dollar to Nigerian Naira):
   • Official rate: 360-370 NGN per USD (Central Bank of Nigeria)
   • Black market rate: 450-500 NGN per USD (parallel market)
2. GBP/NGN (British Pound to Nigerian Naira):
   • Official rate: 420-430 NGN per GBP (Central Bank of Nigeria)
   • Black market rate: 550-600 NGN per GBP (parallel market)
3. EUR/NGN (Euro to Nigerian Naira):
   • Official rate: 390-400 NGN per EUR (Central Bank of Nigeria)
   • Black market rate: 500-550 NGN per EUR (parallel market)

Recent Trends:

• The Naira has been experiencing a decline in value against major currencies, particularly the US Dollar, due to a combination of factors such as:
  • Low oil prices
  • Economic recession
  • Inflation
  • Capital flight
• The Central Bank of Nigeria (CBN) has been intervening in the foreign exchange market to stabilize the Naira, but the black market rate remains higher than the official rate.

Sources:

• Central Bank of Nigeria (CBN)
• Bloomberg
• Reuters
• XE.com
• News outlets and financial websites

Please note that exchange rates can change rapidly, so it's essential to check current rates before making any transactions.