This is the news about the Pounds to Naira rate at the official and black market exchange rate Today February 9 2022.
Read Naija News 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, Wednesday, 9th February, 2022, for £1 pound to naira = ₦564.7379/£1.
According to the data from the CBN, exchange rate between the naira and the British pounds opened at ₦564.7379/£1 on Wednesday 9th, after it closed at ₦562.7591 to a £1 on Tuesday, 8th February 2022.
Naija News reports that a pound is bought at the official market at ₦564.0604 and sold for ₦565.4155.
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 ₦740 and sell for ₦750 on Wednesday, February 9th 2022, according to sources at Bureau De Change (BDC).
External Reserves Fall Below $40bn Mark
The Central Bank of Nigeria in a data released has revealed that the external reserves have fallen below the $40bn mark to the lowest point in over three months.
The apex bank noted that the reserves dropped to $39.82bn on February 2, 2022, from $40.53bn as of December 30, 2021.
On the back of Eurobond inflow and the International Monetary Fund’s Special Drawing Right, the external reserves of the country had jumped from $39.82bn on October 15, 2021, to a high of $41.83bn on October 29.
The data released by CBN disclosed that Nigeria’s external reserves rose by $5.12bn last year from $35.37bn at the end of 2020.
At the first Monetary Policy Committee meeting this year, the Governor, Central Bank of Nigeria, Godwin Emefiele, said, “Members also noted the continued improvement in the external reserves despite ongoing foreign exchange market pressures. The reserves stood at $40.2bn as of December 2021.”