Pounds To Naira Exchange Rate Today 5 May 2022 at black market and bank rate can be access below…
Read GoldenNewsNg update on the official pounds rates as well as Black Market rates, Bureau De Change (BDC) rates, and CBN rates.
Daily Pound to Naira, GBP to NGN, Black Market (Lagos) exchange rates, percentage changes, historical rate charts and currency converter.
How Much is Pounds To Naira Exchange Rate Today Official Rate?
The official rate today, Thursday, 5th May, 2022, for £1 pound to naira = ₦519.3566/£1.
According to the data from the CBN, exchange rate between the naira and the British pounds opened at ₦519.3566/£1 on Thursday May 5th, after it sold at ₦521.4786 to a £1 on Wednesday, 4th May 2022.
GoldenNewsNg reports that a pound is bought at the official market at ₦518.7311 and sold for ₦519.9822.
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) – Pounds exchaged for as low as ₦700 and as high as ₦765 on Thursday, May 5th 2022, according to sources at Bureau De Change (BDC).
Meanhile, Naira has crashed above N600/$ at Aboki Black Market, See New Exchange Rate below.
GoldenNewsNg reports that a stronger dollar may mean bad news for the naira as it is expected to push above N600/$ due to the US Fed’s hawkish stance and the bullish momentum of the dollar index.
This online newspaper understands that all eyes will be on the Federal Reserve this week, as Chairman Jerome Powell is likely to announce a rate hike as well as new details on the Fed’s $9 trillion balance sheet unwinding plan.
GoldenNewsNg reports that the dollar rose towards a 20-year high on Monday as the euro struggled around the $1.05 mark. At the time of writing, the dollar index was trading a $103 up 10% within the last 6 months.
Due to the US dollar integration into the global economy, its gains are putting more pressure on businesses and governments as they prepare for rising interest rates on their dollar debt, particularly in nations like Nigeria that rely heavily on imports.
