The NGN/EUR rate shows how many Euros one Nigerian Naira buys. It is used for remittances, trade, and investment between Nigeria and the Eurozone.
Each row combines a UTC date, a rate and the change from the previous available observation. A positive change means the base currency buys more of the quote currency than on the previous available date.
Days without a quotation are not interpolated: the series keeps only observations that were actually received.
Compare several periods before a trip, an international transfer or a foreign-currency invoice. The average, minimum and maximum provide a quick reference, while the table enables a date-by-date check.
Couverture du au , en UTC.
| Date UTC | Rate | Change | Nature |
|---|---|---|---|
| 0,00063817 | -0.01% | Market | |
| 0,00063824 | +0.20% | Market | |
| 0,00063694 | +0.16% | Market | |
| 0,0006359 | -0.07% | Market | |
| 0,00063633 | -0.39% | Market | |
| 0,00063884 | — | Market |
The NGN/EUR exchange rate represents the value of the Nigerian Naira (NGN) in terms of the Euro (EUR). This directed pair is commonly used by individuals and businesses sending remittances from the Eurozone to Nigeria, as well as by importers and exporters trading between the two regions. When the NGN/EUR rate rises, it means the Naira has appreciated against the Euro, making Eurozone goods cheaper for Nigerian buyers and reducing the cost of sending money from Europe to Nigeria.
The primary drivers of the NGN/EUR rate are the monetary policies of the Central Bank of Nigeria (CBN) and the European Central Bank (ECB). Interest rate differentials, inflation rates, and economic growth in both regions play significant roles. Nigeria's economy is heavily influenced by oil prices and production, as oil exports are a major source of foreign exchange. Capital flows, foreign investment, and risk sentiment also affect the Naira. In the Eurozone, the ECB's policy stance, inflation trends, and overall economic health impact the Euro. Additionally, remittance flows from the large Nigerian diaspora in Europe provide a steady demand for the Naira.
Over the past several years, the NGN/EUR rate has experienced notable fluctuations, often driven by changes in global oil prices and shifts in Nigerian monetary policy. The CBN has periodically adjusted its foreign exchange management framework, including devaluations and the introduction of multiple exchange rate windows, which have influenced the official rate. Meanwhile, the Euro has been affected by ECB policy decisions and economic developments in the Eurozone. Looking ahead, the pair will continue to be shaped by these structural factors, with no single best time to exchange as market conditions evolve.
This analysis is provided for information only and is neither a forecast nor financial advice.
Each row combines a UTC date, a rate and the change from the previous available observation. A positive change means the base currency buys more of the quote currency than on the previous available date.
Displayed source: api.forex. Indicative values are used only as a visual fallback.