Pounds To Naira Exchange Rate Today 10 January 2022

This is the news about Pounds to Naira rate at the official and black market exchange rate Today January 10, 2022.

Read GoldenNewsNg update on the official pounds rates as well as Black Market rates, Bureau De Change (BDC) rates, and CBN rates.

How Much Is Pounds To Naira Exchange Rate Today Official Rate?

The official rate today, Monday January 10th, 2022, for £1 pound to naira = ₦560.4408/£1.

According to the data from the CBN, exchange rate between the naira and the British pounds opened at ₦560.4408/£1 on Monday 10th, after it closed at ₦559.7008 to a £1 on Friday, 7th January 2022.

GoldenNewsNg  reports that a pound is bought at the official market at N559.7634 and sold for N561.1183.

How much is exchange rate of Pounds to Naira in Black Market today?

The exchange rate for a pound to naira at Lagos Parallel Market (Black Market) players buy a dollar for ₦720 and sell for ₦730 on Monday, January 10th 2022, according to sources at Bureau De Change (BDC).

Meanwhile, the Central Bank of Nigeria (CBN) has said that its intervention in the foreign exchange market (forex) declined to $1.65 billion in August 2021.

In the forex report for August 2021 released on Thursday, the CBN said its continued intervention in the foreign exchange market is to ensure systemic stability and adequate liquidity.

According to the report released by the apex bank, the sales of forex to commercial banks reduced from $2.05 billion in July despite its stoppage of weekly dollar allocation to Bureaux de Change (BDCs) in July over alleged forex racketeering.

The CBN said total forex sales to authorised dealers by the bank was $1.65 billion in August, representing a decrease of 19.3 per cent relative to $2.05 billion in July.

A breakdown showed that forex sales to interbank, Swap transactions and Small and Medium Enterprises (SMEs) interventions rose by 63.5 per cent, 72.3 per cent, and 42.5 per cent to $0.28 billion, $0.46 billion, and $0.17 billion, respectively