As of today, the black market exchange rate for Euro to Naira is N1,738. This means that if you exchange €1 at the black market today, you will receive N1,738.
The euro (€) is the official currency of 20 countries including Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia, Spain, and Croatia.
Euro banknotes come in denominations of €5, €10, €20, €50, €100, €200, and €500, although the production of €500 banknotes was discontinued in 2019, they remain legal tender. Euro coins come in denominations of 1 cent (€0.01), 2 cents (€0.02), 5 cents (€0.05), 10 cents (€0.10), 20 cents (€0.20), 50 cents (€0.50), €1, and €2.
How Much is 100 Euros in Naira At The Black Market Today?
As we mentioned earlier, if you exchange your Euros at a local bureau de change, you will receive N1,738 for each Euro. If you are exchanging €100 and you want to know how much you will receive in Naira, all you need to do is multiply N1,738 by 100 and there you have your answer which is N173,800.
You can only get this amount if you are exchanging a hundred Euro notes. If you are exchanging two fifty Euros notes, you will receive a slightly lower rate. You may be wondering why this is so, we will explain. There is something called handling fees
When you exchange a hundred euro note, you will have a higher rate than when you exchange fifties or lower denominations because larger denominations are easier and cheaper bureau de change services to handle. Handling more bills means more work and higher costs, so exchanging smaller denominations can result in a lower exchange rate to cover these extra expenses.
Additionally, larger notes are more desirable for international transactions and business dealings, making them slightly more valuable and resulting in a better exchange rate. Read the section below to see how much you will get when you exchange your euros with Aboki.
Euro to Naira Black Market Today | EUR to NGN
This table covers info on how much you get when you change your Euros to Naira in the black market today.
| Euro (€) | Black Market Rate (N) |
|---|---|
| 1 Euro | 1,738 |
| 5 Euros | 8,690 |
| 10 Euros | 17,380 |
| 20 Euros | 34,760 |
| 50 Euros | 86,900 |
| 100 Euros | 173,800 |
| 200 Euros | 347,600 |
| 300 Euros | 521,400 |
| 400 Euros | 695,200 |
| 500 Euros | 869,000 |
| 600 Euros | 1,042,800 |
| 800 Euros | 1,390,400 |
| 1000 Euros | 1,738,000 |
| 5000 Euros | 8,690,000 |
| 10000 Euros | 17,380,000 |
How To Exchange Euros Safely in The Black Market
Exchanging Euros safely on the black market involves wearing your thinking cap and being alert. Here are some of the tips you can use to ensure you exchange your money safely.
- Look for a trusted and reliable person who has a good reputation for currency exchange. Ask friends or family for recommendations.
- Know the official exchange rate and the black market rate to avoid being cheated. You can check our site for the latest on the Euro to Naira exchange.
- Always meet in a public place where there are many people around, and avoid secluded or unfamiliar areas.
- When you receive the Naira, count it carefully to ensure you are getting the correct amount. Check for counterfeit bills by feeling the texture and looking for security features like watermarks.
- It is safer to exchange smaller amounts of money at a time to minimize your risk. Avoid carrying large sums of Euros or Naira.
- Don’t discuss your plans with strangers or announce that you are exchanging money. Keep a low profile to avoid attracting unwanted attention.
- If something feels off, trust your gut and walk away. It’s better to be safe than sorry.
We believe that if you follow these safety tips, you will exchange your money on the black market safely without issues.
We hope this article covers all the information you need on this topic. You can rely on our site for the most up-to-date information on the black market exchange of currencies used in different countries of the world. As always, share this article with your friends.
Leave a Reply