Euro to Naira Exchange Rate at the Black Market, Central Bank and Bureau de Change
|Date||Blackmarket||CBN||Bureau de Change|
|405 / 414||Not Available||406 / 414|
|403 / 411||348.211 / 349.352||406 / 414|
|404 / 411||346.99 / 348.128||406 / 416|
|407 / 412||347.97 / 349.111||406 / 416|
|408 / 415||347.97 / 349.111||406 / 416|
Euro to Naira Exchange Rate at MoneyGram, Western Union and Azimo
|Date||Money Gram||Western Union||Azimo|
Euro to Naira Exchange Rate at Transferwise, Small World and World Remit
|Date||Small World||Transfer Wise||World Remit|
Euro to Naira Exchange Rate. Facts and Figures
The Euro, the second most traded currency in the world after the US Dollar, is the official currency of the European Union. The Euro holds the title as the second largest reserve currency in the world; as of recent times, the euro has one of the highest combined values of banknotes and coins in circulation in the world.
It is subdivided into 100 cents. The currency symbol is € and the currency code is EUR. The users of the currency consist of 19 States out of the 28 member states of the European Union. They include: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.
Also, four European micro states (Andorra, Monaco, San Marino and Vatican City) outside the EU adopt the euro as their currency. The European Central Bank is the central bank responsible for issuance of the euro and monitoring of the monetary policy of the Eurozone; located at Frankfurt, Germany.
Currency Facts : EURO
Minor Unit: 1/100 = Cent
Central Bank Rate: 0.00
Nicknames: Ege (Finnish), Leru (Spanish), Yoyo (Irish English), Teuro (German)
Coins: Frequently Used: €1, €2, 5cent, 10cent, 20cent, 50cent; Rarely Used: 1 cent, 2 cent
Banknotes: Frequently Used: €5, €10, €20, €50, €100; Rarely Used: €200, €500
Central Bank: European Central Bank
Users: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, Spain, Andorra, Monaco, San Marino and Vatican City.
The History of Euro to Naira
The Euro is the single currency used in the member states of European Union. The name ‘euro’ was got from Madrid on the 16th of December, 1995. It was introduced on 1 January, 1991 as an account currency, replacing the European currency unit at par. On that same date, the national currencies of participated states ceased to be the legal tender making the euro, a standard currency even in non-physical form such as e-transfers, traveller’s cheques, banking transactions as well as others. However, a clear cut on when the euro was made an official legal tender is varied in the different states.
Since 1991, the Euro has gained worthy international presence in the world. It has grown as a dynamic economic or political substitute to the US Dollar due to the growing use over the world. Hence, the Euro becomes the next searched currency in Nigeria after the Dollar. The Euro to Naira exchange rate status has grown rapidly because of the influx of migration of Nigerians to the European nations than that of the United Kingdom. With the amount of opportunities in the various member nations in the EU, the Euro to Naira conversion rate will also increase.
CBN Euro to Naira Exchange Rate History (2012-2017)
January 2017 : 315.79
January 2016 : 213.82
January 2015 : 198.99
January 2014 : 211.65
January 2013 : 205.15
January 2012 : 203.09