How Much is Pounds to Naira

Filed in Articles by on October 4, 2023

Do you desire to know how much is pounds to naira in the exchange market? This may be of great concern to anyone who intends to exchange the pound currency to naira. Here, we will get to discover how much pounds exchanges for naira in the exchange market.

How Much is Pounds to Naira

Pounds to Naira (Black Market Rate)

At a selling rate, Pounds exchanges to naira in the black market at 1270 naira and 1255 naira at a buying rate.

Pounds to Naira (CBN Rate)

At a bank rate, 904 naira is the selling rate of one pound and 903 naira is the buying rate.


Factors that Drives the Exchange Rate of Pounds to Naira

1. Economic Forces: These forces can affect the exchange rate of pounds to naira.

2. Inflation Rate: When inflation occurs, the affected currency of the country suffers and this makes people opt for a more preferable and stable currency.

3. Global Factors: When there is changes in the prices of goods of export like oil in Nigeria, this can affects her earnings and the rate of exchange of pounds.

CSN Team.

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