According to the latest update, the black market rate for a 100 pounds sterling to naira exchange today, 20th March 2024 is:
How much is 100 Pounds Sterling to naira today in the black market?
- Buying rate: ₦202,000.00
- Selling rate: ₦204,500.00
This means that if you want to buy 100 Pounds Sterling on the black market today, you will need to pay 204,500.00 naira. On the other hand, exchanging 100 Pounds Sterling in the parallel market currently fetches you 202,000 naira.
NB: These rates may vary slightly depending on the location and the dealer.
The rates at the black market are determined by traders based on prevailing demand and supply as well as other economic and political factors impacting the foreign exchange market.
Meanwhile, the official exchange rate set by the Central Bank of Nigeria (CBN) pegs the 100 Pounds Sterling to naira exchange at ₦88,689. This official rate is what is applicable for CBN interventions and transactions.
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