naira to cfa black market today

1 (XOF) West African CFA Franc= 0.6889 (NGN) Nigerian Naira   (sixty-nine kobo) ↻ 1 Nigerian Naira = 1.4517 West African CFA Franc. {  CEFA to naira exchange rate }. Nigerian naira (NGN) West African CFA franc (XOF) exchange rate, Nigerian nairas to West African CFA francs conversion table, Saudi riyal to Indian rupee exchange rate, conversion rate Malaysian ringgit Indian rupee. Your email address will not be published. The West African CFA franc (XOF is known in French as the French franc CFA where the CFA stands for Communauté Financière d’Afrique (Financial community of Africa) or Communauté Financière Africaine (Africa Financial Community). History of daily rates NGN /XOF since Wednesday, 23 October 2019. The CFA was created with a fixed exchange rate but was just changed twice, even with the values of the CFA franc, it was criticized on the basis that it was too high and it was said to have favoured the elites of the African countries. How Much Is Cefa To Naira Exchange Rate Today Black Market – The exchange rate of CFA franc. Convert CFA Franc (BCEAO) To Nigerian Naira, Exchange Rates Updated: Oct 21,2020 15:31 UTC, Full history please visit NGN/XOF History, Full history please visit NGN/XOF Exchange Rates History. _g1.setAttribute('src', _g1.getAttribute('data-src') );
Thanks for reading, that’s it for ” How Much Is Cefa To Naira Exchange Rate Today Black Market XOF CFA “, share your thoughts and suggestions with us through the comment box and kindly like us on or follow us, tags: How Much Is Cefa To Naira Exchange Rate Today Black Market, convert CFA to naira, 1 CFA to naira, naira to CFA CEFA XOF, maida, Jaka daya zuwa, canji mgbanwe, tọghat. Between the years 1945 and 1958, the CFA stood for colonies Française d’Afrique (French Colonies of Africa) then also Communauté Française d’Afrique which is known as French community of Africa. We have the West African CFA franc which is ISO 4217 with a currency code of XOF and we also have the Central Africa CFA franc which is ISO 4217 with a currency code of XAF. If only our importers who import from the Benin Republic would always take some goods with them with the value of the money they wish to spend there as export and sell it there before importing, this would at least balance the import and export as opposed to now when the relationship is skewed to the favour of Benin Republic.

Expert now suggests that this gave birth to forex black market.

New money was created in the French colonies in other to spare them the sharp devaluation, and to facilitate imports from France. Prices might differ from those given by financial institutions as banks (Central Bank of Nigeria, Central Bank of West African ), brokers or money transfer companies. CFA franc is the name of the legal tender used in parts of West Africa and Central African countries.

Get daily black market exchange rates from dollar to naira, pounds to naira and euro to naira. The maximum was reached on Thursday, 19 March 2020, English French Indonesian Thai Spanish Vietnamese Croatian Bulgarian Turkish Portuguese Lithuanian Serbian Hungarian Italian Greek Russian Romanian Polish Ukrainian.

Do you know that since Independence in those countries using the CFA, the CFA adopted a new meaning Communauté Financière Africaine (African Financial community) but also know that the terms can have two meanings..

Initial US Dollar rate was noted as ₦460 at the beginning of this week on Monday, October 12, 2020. Ghana Cedis To NaiAfricanange Rate Today { Black Market }, BITCOIN TO NAIRA EXCHANGE RATE | HOW TO BUY, DOLLAR TO NAIRA EXCHANGE RATE TODAY BLACK MARKET, EURO TO NAIRA EXCHANGE RATE IN BLACK MARKET TODAY, Travelex Nigeria Worldwide – Rates, Fees, Branch, Contact Address and More. try { We updated this post every day to make sure that it remains accurate. In the world market, the CFA seems stable compared to the Naira that had been in a dramatic fall in the past year. Though separate theoretically, the two CFA franc currencies are effectively interchangeable. They are both distinguishes in French by the meaning of their names.

Using the CFA in West Africa there are majorly eight(8) countries which are Benin, Ivory Coast, Mali, Niger, Senegal, Burkina Faso, Togo, and Guinea Bissau. The CFA franc exchange rate was changed only twice and this was in the year 1948 and 1994. Required fields are marked *. The CFA is the currency of Eight independent countries in West Africa which are countries like Burkina Faso, Guinea Bissau, Ivory Coast, Mali, Niger, Senegal, Togo, and Benin. Get daily black market exchange rates from dollar to naira, pounds to naira and euro to naira. The Nigerian naira/West African CFA franc converter is provided without any warranty. When we look at the whole month, CFA Franc BCEAO was traded at ₦0.75 at the beginning of October on … This makes a 0.43% rise for Dollar rate against Naira this week.. To have a monthly quick review, US Dollar was traded at ₦465 at the beginning of October on Thursday, October 01, 2020.

To use social login you have to agree with the storage and handling of your data by this website. We can now move over to the main phase of this article which is top interesting facts about the CFA which you do not know about. We have so many interesting facts about CFA. This is a bad rate especially to Nigerians living very close to the border between Nigeria and the Benin Republic and Nigerian traders who trade with countries using CFA. Note that the official exchange rate was 22 naira, the black market exchange rate was around 88 naira to 1 … Trust me reading this will shock your marrows because you have not seen this anywhere. Reading this article on “How Much Is Cefa To Naira Exchange Rate Today Black Market XOF” has made you know lots of facts about the CFA which is the major currency for eight different countries in West Africa. The only set of people it favors are people exporting products to the Benin Republic but important… { 1 Cefa to naira or 1 CFA to Naira } Huh…, Cefa to Naira exchange rate black market today stands at – N1 to CFA. Don't get overcharged when you send money abroad. This is, in fact, the biggest reason why the CFA is gaining strength against the Naira. When we look at the whole month, CFA Franc BCEAO was traded at ₦0.75 at the beginning of October on Thursday, October 01, 2020. %privacy_policy%. _g1 = document.getElementById('g1-logo-inverted-source');
updated October 10, 2020, 10:26 am, Your email address will not be published. Exchange rates are updated every 15 minutes. The CFA franc currency was created on 26 December 1945, together with the CFP franc. CFA currently has a fixed exchange rate equivalent to the Euro. Here you will find the CFA to Naira Black Market Rate, CFA to Naira Official Exchange Rate, Bank Rate, and CBN rate.

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