Rand to Naira Exchange Rate Today – Buy or Sell Zar in black market or Bank

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Here is all you need to know about Rand to Naira Exchange Rate Today. I will also show you where you can buy or Sell Zar in black market or Bank (Parallel Market).

As At Today Find Rand to Naira Exchange Rate Below

Nigeria was far ahead of South Africa in currency value and in economy less than 2 years ago. However, the reverse is the case today. As at today, South African economy is rated above Nigerian economy.

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Expectedly, South African currency too has appreciated beyond Nigeria currency

Factors Responsible

For one, Nigerians love to import virtually everything they use, even toothpick.  This desire for imported product put so much pressure on the naira, since this increases demand for foreign exchange. We import goods from virtually all countries of the world, including South Africa.

Our population increase by the year and our demand for imported goods also increases proportionally.  This is one of the several factors that are militating against the naira against other world currencies including the South African Rand.

The rate of depreciation in the parallel market is steadfast to say the fact. The gap between the black market rate and the official rate is high and this is one issue of great concern. It only indicates how very poor the naira is performing in recent times.

Where to buy or Sell Rand in Nigeria

You can buy or Sell your South African currency by visiting any of the location below:

Lagos

Port Harcourt

Enugu

Abia

IMO

Kano

Delta etc.

Thanks for reading about rand to Naira Exchange rate today From us. You can ask is any question about how and where you can change you South African Rands in Nigeria.

Please remember to always visit us to get latest rand to Naira Exchange rate on daily basis.

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Comments

  1. Hi Jagaban King,

    I do have some Rand that I need to exchange for Naira, and I thought to ask you to recommend how/where I can do such. I have the rand in a South African bank and would transfer it to any South African bank, while I need the Naira in my Nigerian bank.
    Kindly get back in touch with recommendations.

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