EUR/NGN
Market Open
12 Jun, 11:19
₦
1,578. 50
+11
+0.7018%
₦
1 Volume
₦ 1,567.5
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EURNGN Overview
EURNGN denotes the exchange rate quoting how many Nigerian Naira (NGN) are required to purchase one Euro (EUR). It tracks the relative value between the euro as the base currency and the naira as the quote currency in foreign exchange markets.
The euro is the official currency of the euro area, used by multiple member states of the European Union. It is a major global reserve and transaction currency, issued and managed by the European Central Bank (ECB) and implemented through the Eurosystem of national central banks.
Nigeria’s currency, the naira, serves as the legal tender of the Federal Republic of Nigeria. The naira is issued and regulated by the Central Bank of Nigeria (CBN) and is influenced by domestic economic conditions, fiscal policy, and the country’s external receipts, notably oil revenues.
Movements in the EURNGN rate are driven by supply and demand dynamics in the FX market, differential interest rates and inflation between the euro area and Nigeria, central bank interventions and monetary policy decisions, as well as geopolitical events and global risk sentiment. Commodity price swings and capital flows also play a role.
EURNGN matters to exporters, importers, portfolio managers and currency traders for pricing, hedging and speculative strategies, and it is closely watched by businesses engaged in trade between Europe and Nigeria.
The euro is the official currency of the euro area, used by multiple member states of the European Union. It is a major global reserve and transaction currency, issued and managed by the European Central Bank (ECB) and implemented through the Eurosystem of national central banks.
Nigeria’s currency, the naira, serves as the legal tender of the Federal Republic of Nigeria. The naira is issued and regulated by the Central Bank of Nigeria (CBN) and is influenced by domestic economic conditions, fiscal policy, and the country’s external receipts, notably oil revenues.
Movements in the EURNGN rate are driven by supply and demand dynamics in the FX market, differential interest rates and inflation between the euro area and Nigeria, central bank interventions and monetary policy decisions, as well as geopolitical events and global risk sentiment. Commodity price swings and capital flows also play a role.
EURNGN matters to exporters, importers, portfolio managers and currency traders for pricing, hedging and speculative strategies, and it is closely watched by businesses engaged in trade between Europe and Nigeria.
EURNGN Chart
EURNGN FAQ
What is the current EUR/NGN price?
The current rate is ₦1,578.500000, reflecting the latest available market price based on global forex liquidity and trading activity.
How much has the EUR/NGN rate changed today?
The rate has changed by +11 (+0.7018%) compared to the previous close, reflecting current forex market activity.
What was the previous closing rate?
The previous close was ₦1,567.500000, which serves as a reference point for measuring daily performance.
What does the daily range indicate?
The range shows the lowest and highest levels reached during the current trading session, helping assess volatility.
Why is EUR/NGN moving up or down?
Movements in EUR/NGN are driven by macroeconomic data, interest rate expectations, central bank policy, and overall market sentiment.
How is the percentage change calculated?
The percentage change (+0.7018%) is based on the difference between the current rate and the previous closing rate.
Is EUR/NGN trending up or down right now?
If the current rate (₦1,578.500000) is above the previous close (₦1,567.500000), it indicates upward movement. If below, it suggests a downward trend.
Where can I track live rates and charts?
You can monitor real-time rates, charts, and key market data for EUR/NGN directly on this page.
