Understanding the historical exchange rates between the Euro (EUR) and the Nigerian Naira (NGN) can provide valuable insights for businesses, travelers, and anyone involved in international transactions. This article explores the fluctuations in the EUR/NGN exchange rate, highlighting key milestones and factors that have influenced its trajectory.
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Historical Euro / Nigerian Naira (EUR/NGN) Exchange Rate
Here's a detailed look at the historical exchange rates between the EUR and NGN.
Key Milestones
- Highest Value: The best day to exchange euros for Nigerian nairas was Monday, 21 April 2025, when 1 EUR = 1,847.59 NGN. 100 euros could be exchanged for 184,759.00 NGN.
- Lowest Value: The worst day to exchange euros for Nigerian nairas was Monday, 10 February 2025, when 1 EUR = 1,546.93 NGN. At that time, 100 euros could be exchanged for 154,693.00 NGN.
The following table shows the price history of NGN/EUR from November 2024 to November 2025:
| Date | EUR/NGN |
|---|---|
| Monday, 3 November 2025 | 1,661.4600 |
| Monday, 27 October 2025 | 1,699.0200 |
| Monday, 20 October 2025 | 1,708.3800 |
| Monday, 13 October 2025 | 1,689.5700 |
| Monday, 6 October 2025 | 1,723.1500 |
| Monday, 29 September 2025 | 1,743.8800 |
| Monday, 22 September 2025 | 1,763.6800 |
| Monday, 15 September 2025 | 1,763.5200 |
| Monday, 8 September 2025 | 1,773.0400 |
| Monday, 1 September 2025 | 1,792.7200 |
| Monday, 25 August 2025 | 1,785.2400 |
| Monday, 18 August 2025 | 1,790.6100 |
| Monday, 11 August 2025 | 1,782.5800 |
| Monday, 4 August 2025 | 1,764.1000 |
| Monday, 28 July 2025 | 1,774.1300 |
| Monday, 21 July 2025 | 1,789.3200 |
| Monday, 14 July 2025 | 1,782.0900 |
| Monday, 7 July 2025 | 1,801.6900 |
| Monday, 30 June 2025 | 1,812.5200 |
| Monday, 23 June 2025 | 1,798.3400 |
| Monday, 16 June 2025 | 1,782.7400 |
| Monday, 9 June 2025 | 1,780.8600 |
| Monday, 2 June 2025 | 1,813.5300 |
| Monday, 26 May 2025 | 1,803.2500 |
| Monday, 19 May 2025 | 1,799.5400 |
| Monday, 12 May 2025 | 1,778.1400 |
| Monday, 5 May 2025 | 1,816.8200 |
| Monday, 28 April 2025 | 1,831.0600 |
| Monday, 21 April 2025 | 1,847.5900 |
| Monday, 14 April 2025 | 1,819.1200 |
| Monday, 7 April 2025 | 1,690.2300 |
| Monday, 31 March 2025 | 1,659.1600 |
| Monday, 24 March 2025 | 1,649.4500 |
| Monday, 17 March 2025 | 1,681.3300 |
| Monday, 10 March 2025 | 1,653.3200 |
| Monday, 3 March 2025 | 1,572.4800 |
| Monday, 24 February 2025 | 1,569.1100 |
| Monday, 17 February 2025 | 1,583.6500 |
| Monday, 10 February 2025 | 1,546.9300 |
| Monday, 3 February 2025 | 1,734.4100 |
| Monday, 27 January 2025 | 1,619.2400 |
| Monday, 20 January 2025 | 1,621.4100 |
| Monday, 13 January 2025 | 1,590.5700 |
| Monday, 6 January 2025 | 1,604.7000 |
| Monday, 30 December 2024 | 1,610.0000 |
| Monday, 23 December 2024 | 1,612.2200 |
| Monday, 16 December 2024 | 1,631.8000 |
| Monday, 9 December 2024 | 1,662.2500 |
| Monday, 2 December 2024 | 1,753.8300 |
| Monday, 25 November 2024 | 1,759.8900 |
| Monday, 18 November 2024 | 1,767.2000 |
| Monday, 11 November 2024 | 1,784.3100 |
Here's a conversion table for EUR to NGN:
| EUR | NGN |
|---|---|
| 1 | 1,661.37 |
| 2 | 3,322.74 |
| 3 | 4,984.11 |
| 4 | 6,645.48 |
| 5 | 8,306.85 |
| 10 | 16,613.70 |
| 15 | 24,920.55 |
| 20 | 33,227.40 |
| 25 | 41,534.25 |
| 100 | 166,137.00 |
| 500 | 830,685.00 |
Understanding the Currencies
Euro (EUR)
The euro (€) is the currency of the Eurozone, which comprises 20 member countries within the European Union. It is the second-largest reserve currency in the world and plays a significant role in international trade and finance. The euro was officially issued in 1999, promoting economic integration among EU countries.
Read also: Exchange Rate: 100 Euros
- ISO Code: EUR
- Currency Symbol: €
- Central Bank: European Central Bank (ECB)
Nigerian Naira (NGN)
The naira (₦) is the currency of Nigeria, introduced on 1 January 1973, replacing the Nigerian pound at a rate of £1 = ₦2. The Central Bank of Nigeria (CBN) is the sole issuer of legal tender money throughout the Federal Republic of Nigeria. It controls the volume of money supplied in the economy in order to ensure monetary and price stability. The NGN plays a central role in Africa's largest economy, supporting a diversified economy, particularly the oil and agriculture industries.
- ISO Code: NGN
- Currency Symbol: ₦
- Central Bank: Central Bank of Nigeria (CBN)
Factors Influencing the Exchange Rate
Several factors influence the EUR/NGN exchange rate. These include:
- Economic Performance: The economic health of both the Eurozone and Nigeria plays a crucial role. Factors such as GDP growth, inflation rates, and unemployment levels can impact currency values.
- Monetary Policy: Decisions made by the European Central Bank (ECB) and the Central Bank of Nigeria (CBN) regarding interest rates and money supply can influence exchange rates. In 2011, the CBN increased key interest rates six times, rising from 6.25% to 12%.
- Political Stability: Political events and government policies in both regions can affect investor confidence and, consequently, currency values.
- Trade Balance: The balance of trade between the Eurozone and Nigeria can impact the demand for each currency.
- Market Sentiment: Speculative trading and market sentiment can also cause fluctuations in the exchange rate.
Recent Developments
In 2022, the Central Bank of Nigeria (CBN) implemented a policy to redesign and replace the highest denomination banknotes (₦200, ₦500, and ₦1,000 notes). The CBN cited that currency should be redesigned every 5 to 8 years, and the Naira was long overdue. This redesign primarily focused on changing the color palette and enhancing the security features of the affected denominations.
A major cash crunch occurred in February 2023 when the Nigerian government used a currency note changeover-delivering too few of the new notes into circulation-to attempt to force citizens to use a newly created government-sponsored central bank digital currency.
Disclaimer
The euro/Nigerian naira converter is provided without any warranty. Prices might differ from those given by financial institutions such as banks (European Central Bank, Central Bank of Nigeria), brokers, or money transfer companies. It is essential to consult with financial professionals for accurate and up-to-date information.
Read also: Understanding EUR/MAD Fluctuations
Read also: Past EUR to NGN Rates
