Euro To Naira Today 11th March 2024 ( CBN/ Black Market Rate)

Euro to Naira (EUR to NGN)	Black Market Exchange Rate Today
Buying Rate of €	₦1,700
Selling Rate of €	₦1,720

Frequently Asked Questions about Euro to Naira Exchange Rate

What is the euro to naira black market rate today?

Today, 11th March 2024, the euro to naira black market rate in Lagos, Nigeria, opened at ₦1,720.00 per €1 at the parallel market, after closing at ₦1,700.00 per €1 on the previous day.

How often do black market exchange rates change?

The exchange rates in the black market are subject to hourly fluctuations. These changes are driven by the supply and demand dynamics in the market. It’s crucial for traders and individuals looking to exchange currencies to stay updated as rates can move either upwards or downwards within a short period.

What influences the euro to naira exchange rate?

Several factors can influence the euro to naira exchange rate, including:

• Market Demand and Supply: The primary factor affecting exchange rates, where higher demand or lower supply of euros can increase the rate and vice versa.
• Economic Indicators: Inflation rates, interest rates, and economic growth indicators of both the Eurozone and Nigeria can affect the exchange rate.
• Political Stability and Performance: The political climate in Nigeria and the Eurozone can influence investor confidence, which in turn affects exchange rates.
• Speculation: Speculators’ activities can also impact the euro to naira rate, as they trade based on expectations of future movements in the currency values.

Disclaimer

Please note that the rates provided by Naijaonpoint Media are based on the official naira black market exchange rate in Nigeria today, including the Black Market rates, BDC, and CBN rates. These rates are obtained from various sources and are meant for informational purposes only. The actual rates at which you buy or sell forex may vary from the ones mentioned here.