Pounds To Naira Exchange Rate/Black Market Rate Today 16 March 2022

This is the news about the Pounds to Naira rate at the official and black market exchange rate Today March 16 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, 16th March, 2022, for £1 pound to naira = ₦543.0667/£1.

According to the data from the CBN, exchange rate between the naira and the British pounds opened at ₦543.0667/£1 on Wednesday 16th March, after it closed at ₦542.0244 to a £1 on Tuesday, 15th March 2022.

Naija News reports that a pound is bought at the official market at ₦542.4139 and sold for ₦543.7196.

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 ₦770 and sell for ₦783 on Wednesday, March 16th 2022, according to sources at Bureau De Change (BDC).

Nigeria’s Inflation Rate Hits 15.70% As Fuel Scarcity Looms

The National Bureau of Statistics (NBS) on Tuesday reported that Nigeria’s inflation rate has risen to 15.70 percent amid the biting fuel scarcity.

Naija News reports that this was made known by the NBS in its Consumer Price Index (CPI) report for February 2022 released today.

The consumer price index, which measures the rate of increase in the price of goods and services, rose to 15.70 percent year-on-year in February 2022.

It was gathered from the report that the headline inflation rate slowed down in February when compared to the same month in the previous year.