Federal Character
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion
No Result
View All Result
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion
No Result
View All Result
Federal Character
No Result
View All Result
Home Business & Finance

Dollar, Euro and Pounds To Naira Exchange Rate For Today, June 3 2024

Eriki Joan UgunushebyEriki Joan Ugunushe
June 3, 2024
in Business & Finance
0
Dollar, Euro and Pounds To Naira Exchange Rate For Today, June 3 2024
Share on FacebookShare on TwitterShare on Whatsapp

As of today, June 3 in Lagos, Abuja and Kano, here are the exchange rates for the Nigerian Naira (NGN) to the respective currencies: It includes the Naira Black Market exchange rates, Aboki/Bureau De Change (BDC).

Naira to Dollar Exchange Rate (USD to NGN):
Buying Rate 1480
Selling Rate 1460

Euro to Naira Black Market Exchange Rate (EUR to NGN):
Buying Rate:1570
Selling Rate: 1530

Pounds to Naira Black Market Exchange Rate (GBP to NGN)
Buying Rate: 1870
Selling Rate: 1830

Factors That Determines Exchange Rates:

  • Interest rates: Higher interest rates can attract foreign investors seeking better returns, leading to increased demand for the local currency and strengthening its exchange rate. Conversely, lower interest rates may discourage foreign investment and result in currency depreciation.
  • Balance of trade: A trade surplus, where exports exceed imports, creates demand for the local currency as foreign countries purchase goods and services. This increased demand strengthens the exchange rate. Conversely, a trade deficit can put downward pressure on the currency.
  • Foreign direct investment (FDI): Higher levels of foreign direct investment indicate confidence in a country’s economic prospects and can lead to increased demand for the local currency, strengthening its exchange rate.
  • Government policies and interventions: Government decisions, such as monetary policies and foreign exchange controls, can directly impact exchange rates.
  • Global economic factors: Global economic conditions, including economic growth, interest rate differentials, and geopolitical events, can affect exchange rates. Changes in the global economic environment can result in capital flows into or out of a country, influencing its exchange rate.

It’s important to recognize that these factors are interconnected, and changes in one factor can have cascading effects on others. This interdependence makes exchange rates a complex and dynamic system.

Tags: Aboki/Bureau De Change (BDC)cbnEuro and Pounds To Naira Exchange Rate For Todayexchange rates for the Nigerian Naira (NGN)federal characterNaira Black Market exchange ratesNews
Eriki Joan Ugunushe

Eriki Joan Ugunushe

Eriki Joan Ugunushe is a dedicated news writer and an aspiring entertainment and media lawyer. Graduated from the University of Ibadan, she combines her legal acumen with a passion for writing to craft compelling news stories.Eriki's commitment to effective communication shines through her participation in the Jobberman soft skills training, where she honed her abilities to overcome communication barriers, embrace the email culture, and provide and receive constructive feedback. She has also nurtured her creativity skills, understanding how creativity fosters critical thinking—a valuable asset in both writing and law.

Related Posts

September Surrender: Naira Kneels as Dollar, Euro, Pound Dance on Its Weakness
Business & Finance

October Onslaught: Naira Free-Falls as Dollar, Euro, Pound Tighten the Noose

October 1, 2025
Will the Dangote Refinery Deadlock Worsen Nigeria's Economic Crisis?
Business & Finance

Will the Dangote Refinery Deadlock Worsen Nigeria’s Economic Crisis?

September 30, 2025
September Surrender: Naira Kneels as Dollar, Euro, Pound Dance on Its Weakness
Business & Finance

September Surrender: Naira Kneels as Dollar, Euro, Pound Dance on Its Weakness

September 29, 2025
Next Post
ANC Faces Coalition Challenge After Losing Parliamentary Majority in South Africa

ANC Faces Coalition Challenge After Losing Parliamentary Majority in South Africa

Flight Disruptions Expected as Aviation Unions Join Labour Strike

Flight Disruptions Expected as Aviation Unions Join Labour Strike

Historic Victory: Claudia Sheinbaum Becomes Mexico’s First Woman President

Historic Victory: Claudia Sheinbaum Becomes Mexico's First Woman President

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Police Apprehends Gunrunner and Retrieve 20 AK-47 Firearms in Kaduna

Police Apprehends Gunrunner and Retrieve 20 AK-47 Firearms in Kaduna

1 year ago
Manchester United Chief Executive Omar Berrada Pledges Financial Stability As Club Posts Record Losses

Manchester United Chief Executive Omar Berrada Pledges Financial Stability As Club Posts Record Losses

1 year ago
France Faces Political Gridlock After Hung Parliament Election Results

France Faces Political Gridlock After Hung Parliament Election Results

1 year ago
Madeira Wildfire Rages: Arson Suspected as Firefighters Battle Inferno

Madeira Wildfire Rages: Arson Suspected as Firefighters Battle Inferno

1 year ago

Categories

  • Beauty
  • Business & Finance
  • Entertainment
  • Fashion & Lifestyle
  • Food & Nutrition
  • Government
  • Health
  • News
  • Politics
  • Relationship and Life
  • Sports
  • Tech

Topics

2023 Aboki/Bureau De Change (BDC) apc Arsenal buhari Business cbn chelsea china court Davido Dollar Efcc Election Entertainment Euro and Pounds To Naira Exchange Rate For Today exchange rates for the Nigerian Naira (NGN) Fashion federal character federal government Finance food Football Foreign News government health inec Israel lagos Manchester United Naira Naira Black Market exchange rates News Nigeria pdp police Politics president protest Russia Sports tinubu trump ukraine US
No Result
View All Result

Highlights

Oritse Femi Celebrates Birth of Grandchild

Minaj and Cardi B Reignite Their Bitter Feud

Chelsea Secure a Narrow win against Mourinho’s Benfica for First UCL Win; Liverpool Stunned by Osimhen

Why Did Nigeria’s Shea Nut Export Ban Backfire on the Women It Was Meant to Help?

Nicole Kidman and Keith Urban: What Really Went Wrong After 19 Years?

A Legal Hurdle or Tactical Delay? Why Sowore’s Arraignment Stalled

Trending

Phyna Insists Sister Be Treated in India Following Dangote Truck Accident
Entertainment

Phyna Hints at Conspiracy in Sister’s Fatal Accident

byAyobami Owolabi
October 1, 2025
0

Big Brother Naija Season 7 winner Ijeoma Otabor, popularly known as Phyna, has openly criticised the Dangote...

Controversy Behind Her, Mandy Kiss Steps Into a New Mission in Lagos

Controversy Behind Her, Mandy Kiss Steps Into a New Mission in Lagos

October 1, 2025
September Surrender: Naira Kneels as Dollar, Euro, Pound Dance on Its Weakness

October Onslaught: Naira Free-Falls as Dollar, Euro, Pound Tighten the Noose

October 1, 2025
Oritse Femi Celebrates Birth of Grandchild

Oritse Femi Celebrates Birth of Grandchild

October 1, 2025
Minaj and Cardi B Reignite Their Bitter Feud

Minaj and Cardi B Reignite Their Bitter Feud

October 1, 2025

We launched Federal Character in February 2021 based on the belief that the world is in need of smarter and more efficient reporting of events shaping our rapidly changing world. We pledged to put our audience first, always.

Recent News

  • Phyna Hints at Conspiracy in Sister’s Fatal Accident
  • Controversy Behind Her, Mandy Kiss Steps Into a New Mission in Lagos
  • October Onslaught: Naira Free-Falls as Dollar, Euro, Pound Tighten the Noose

Categories

  • Beauty
  • Business & Finance
  • Entertainment
  • Fashion & Lifestyle
  • Food & Nutrition
  • Government
  • Health
  • News
  • Politics
  • Relationship and Life
  • Sports
  • Tech

© 2024 FederalCharacter.com

No Result
View All Result
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion

© 2024 Federalcharacter.com