Welcome to the GBP to NGN exchange rate history page. This page contains detailed daily historical exchange rates between GBP and NGN from 2025-3-8 to 2025-11-04, making it easy to look up and reference.
The actual amount received during remittance is directly affected by the GBP to NGN exchange rate. Differences in rates offered by banks or platforms may lead to significant differences in the final amount.
As of 16:00 PM UTC, £1,000.00 - one thousand pound sterlings is currently worth ₦1,883,823.28 (one million eight hundred eighty-three thousand eight hundred twenty-three naira 28 kobos). The current exchange rate is 1883.8233.
Compared to the previous closing exchange rate, the Nigerian Naira 🚀 increased by 0.08% (+1416.60) against the British Pound Sterling.
On this day last year, £1,000.00 would have been exchanged for ₦2,161,935.99, ₦278,112.71 higher than today’s rate. The most favorable exchange rate over the past seven days was ₦1,902,530.73.
Read also: Understanding AED to GHS
Feel free to try converting the currency rate in reverse from Naira to Pound Sterlings.
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Historical Exchange Rate Data
This section organizes the historical exchange rate data of 1 GBP to NGN, including daily data over the past 1 day, 15 days, 30 days, and 90 days. It also marks the highest, lowest, and average rates during each period, helping you easily understand how the exchange rate has changed over time, which is useful for currency exchange, transfers, or investment decisions.
Live Update: Today's Latest Nigerian Naira (NGN) Exchange Rates | Daily Forex Trends & Analysis
Data Statistics
Here’s a summary of the exchange rate statistics over the last 90 days:
- High: 2,083.2
- Low: 1,874.8
- Average: 2,010.1
- Volatility: 0.44%
Below is a table providing factual data and analysis of currency fluctuations over different periods:
Read also: Historical ZAR/NGN Data
| Statistic | Last 7 Days | Last 30 Days | Last 90 Days |
|---|---|---|---|
| High | 1,933.9 | 1,983.1 | 2,083.2 |
| Low | 1,874.8 | 1,874.8 | 1,874.8 |
| Average | 1,898.7 | 1,944.7 | 2,010.1 |
| Volatility | 0.87% | 0.54% | 0.44% |
Below are the daily average exchange rates of GBP to NGN for the past 7 days, helping you track the trend during this period. We also provide exchange rate changes of NGN to GBP, helping you understand fluctuations from different perspectives and better plan your currency exchange, transfers, or fund management.
Currency Information
GBP - British Pound
The British pound is one of the oldest currencies in the world, dating back to the establishment of the Bank of England in 1694. The currency code for British Pounds is GBP. The currency symbol is £.
As the core currency of London, the global financial center, the British pound still enjoys an important position in international trade and investment, with extremely high market liquidity and credibility.
- Main unit: 1 Pound (GBP)
- ISO code: GBP
- Currency name: Pound sterling
- Exchange Rate System: Floating exchange rate system
- Central Bank: Bank of England
- Safe-haven currency: Yes, it has certain hedging attributes, especially in the European market.
- Coin denomination: 1, 2, 5, 10, 20, 50 pence; £1, £2
- Countries of Use: United Kingdom (England, Scotland, Wales, Northern Ireland), Gibraltar, Saint Helena, Isle of Man, etc.
- Cross-border payment: The British pound is widely used in global financial markets, supporting international payments through systems such as SWIFT and CHAPS, and is suitable for financial institutions and bulk trade settlements.
NGN - Nigerian Naira
The naira was introduced in 1973 as a replacement for the Nigerian pound. The currency code for Nigerian Nairas is NGN. The currency symbol is ₦.
The NGN plays a central role in Africa's largest economy, supporting a diversified economy, particularly the oil and agriculture industries.
Read also: Converting USD to MAD
- Main unit: Naira
- ISO code: NGNCurrency name: Nigerian Naira
- Exchange Rate System: Regulated floating exchange rate system
- Central Bank: Central Bank of Nigeria
- Safe-haven currency: No, there are significant fluctuations in exchange rates and strong capital controls.
- Coin denomination: 50 Cobos, 1, 2 Naira (seldom used).
- Countries of Use: Nigeria is the only country where it is used officially.
- Cross-border payment: Naira is not freely convertible in the international market and is primarily settled through the SWIFT network and banking intermediaries. Cross-border payments often use the US dollar or euro as intermediary currencies, which limits efficiency.
Factors Affecting the Exchange Rate
When conducting cross-border transactions, pay attention to real-time rates, the bid-ask spread, settlement fees, etc. Especially for large payments, even small differences in the GBP to NGN exchange rate can result in substantial changes in actual amounts.
Different banks or payment platforms use various pricing mechanisms. Some use mid-market rates; others add wider spreads, fees, and settlement times. This causes you to see GBP to NGN on Platform A as 7.10, while Platform B shows 7.02. Such differences can be significant for large transactions.
By examining the recent fluctuations in the exchange rate between GBP and NGN, you can determine whether the current exchange rate is high or low, helping you decide whether to immediately remit, lock up the exchange, or delay the transaction to obtain a better price.
Look at the charts of GBP to NGN over the past few months. If the trend is upward, it means GBP is appreciating and exchanging to NGN is more cost-effective; if downward, you may want to act quickly to exchange at a better rate.
Disclaimer: The exchange rate data on this page is collected from public sources for reference only. Due to frequent fluctuations, XTransfer cannot guarantee accuracy or timeliness.
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