Euro to Naira Black Market Rate

Euro to Naira Exchange Rate in Black Market Today

The Euro to Naira Black Market rate today in Lagos, Nigeria is ₦ 1640.00 as of 19 May 2024.

1 EUR = ₦ 1640.00

To change the Euro to Naira using the parallel market rate for various sums is shown below.

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How much is Euro to Naira rate in the Black (Parallel) Market Today

The rates often vary slightly from city to city in Nigeria, such as Abuja, Lagos, Port Harcourt, Kano, and Calabar. Usually, this difference is not more than ₦ 5.00.

1 Euro  – ₦ 1 640

5 Euro – ₦8 200

10 Euro – ₦ 16 400

50 Euro – ₦ 82 000

100 Euro – ₦ 164 000

150 Euro – ₦ 246 000

200 Euro – ₦ 328 000

500 Euro – ₦ 820 000

1000 Euro – ₦ 1 640 000

2000 Euro – ₦ 3 280 000

5000 Euro – ₦ 8 200 000

10000 Euro – ₦ 16 400 000

Check out other Euro to Naira exchange rates below:

Buying and Selling Black Market Terminologies Defined

The buying rate refers to the amount in Naira that one receives after exchanging his/her 1 Euro in any market segment: the Central Bank of Nigeria, FX Market, Nigerian Banks, Western Union, MoneyGram, or from the black market traders.

The selling rate is the reverse of the buying rate which is the value the traders in the above markets will sell 1 Euro to you when you pay in Naira, and it is always higher than the buying rate.

Transacting in foreign currencies requires a clear understanding of these basic terminologies.

The Euro (EUR)

The Euro (EUR) is generally accepted as a universal currency for international trade in Nigeria. A subunit of the EUR is 1 Cent, and the symbols of Cent and Dollar are (¢) and € respectively.

It is the monetary unit and currency of the European Union( EU). The European Central Bank issues it for use by countries in the eurozone. The eurozone comprises Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.

The Nigeria Naira (NGN)

The official currency used by Nigeria is known as the Naira and its subunit is called 1 kobo. The Central Bank of Nigeria issues and regulates the currency. The symbol for the Naira is ₦, while the code is NGN.