The pound sterling is one of the powerful currency in the world. Here in Nigeria, it is the fourth most traded currency after the U.S dollar, Chinese Yen, and Euro. Since the Nigerian naira experienced free fall, it has struggled against foreign currencies like Pounds. This article will enlighten you about the Pounds to naira exchange rate today. In Nigeria, there are two markets for foreign exchange. These markets are the official exchange and the Black/Parallel exchange. The rates are quite different under these two markets.
Pounds to Naira exchange rate today – official exchange rate
- 18/06/19 – Buy/Sell = 385.1/386
- 17/06/19 – Buy/Sell = 383/384
- 16/06/19 – Buy/Sell = 385.3/386
- 15/06/19 – Buy/Sell = 387/388
Pounds to Naira exchange rate today – black market rate
- 18/06/19 – Buy/Sell = 453/454
- 17/06/19 – Buy/Sell = 454/455
- 16/06/19 – Buy/Sell = 454.5/455.4
- 15/06/19 – Buy/Sell = 455/456
Pounds to Naira exchange rate – Currency Conversion
- 1 GBP = 455
- 5 GBP = 2,277
- 10 GBP = 4,554
- 50 GBP = 22,768
- 100 GBP = 45,536
- 250 GBP = 113,840
- 500 GBP = 227,679
- 1,000 GBP = 455,358
- 3,000 GBP = 1,366,075
- 5000 GBP = 2,276,792
- 10000 GBP = 4,553,584
The difference between the official exchange rate and the black market rate of Pounds to naira cannot be neglected. If you can transact using the official exchange rate that will be a great deal for you. We will constantly update this page with the latest pounds to naira exchange rate, be sure to bookmark it and visit daily to stay updated. What do you know about pounds as a currency? Why don’t you check out these interesting facts about pounds below;
Interesting Facts about the Pounds as a currency
- The pound sterling is the official currency of the United Kingdom, Guernsey, the Isle of Man, Tristan da Cunha, Jersey, South Georgia & the South Sandwich Islands, and the British Antarctic Territory.
- This is the fourth most-traded currency in the foreign exchange market, after the United States dollar, the euro, and the Japanese yen.
- At about 4%, Pounds is the third most-held reserve currency in global reserves.
- In the wholesale foreign exchange markets, ‘the cable’ is used to refer to the exchange rate of the pounds against the U.S dollar.
- Quid is the common slang term used for the pound sterling, which is singular and plural.
- Pound sterling became a decimalized currency system in 1971.
- The pound sterling coins are available in the following denominations such as 1p, 2p, 5p, 10p, 20p, 50p, £1, and £2.
- Banks in the United Kingdom are allowed to issue banknotes. England and Wales make use of banknotes issued by the Bank of England. For Scotland, The Bank of Scotland, Clydesdale Bank and Royal Bank of Scotland issue their banknotes. Banknotes for Northern Ireland are issued by the Bank of Ireland.
- King George V is the first monarch on Bank of England pound notes.
- Since 1960, a portrait of Queen Elizabeth II has featured on all Bank of England pound notes.