Loans, Investment, FX Market
Nigeria foreign exchange market is a decentralized or over-the-counter market for the trading of currencies. This includes the value of Nigeria naira to US dollars, Pounds Sterling and other foreign currencies across the World.
The black market exchange rate of the US dollar to Naira in Nigeria early morning of Monday, January 25, 2021, was N477/N472 (buy/sell). Disclaimer: This data is collated from various black market dealers in Lagos, Nigeria, meaning the price you find on this page WILL be slightly different from what you get in your state …
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The foreign exchange market gulp $4.37bn in the third quarter of 2020 as one of the moves by the Central Bank of Nigeria (CBN) to stabilize the naira. The third-quarter economic report of the apex bank revealed that the CBN’s periodic interventions in the forex market is targeted at boosting the supply side of the market. Since …
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In the pre-colonial era, African countries adopted their own means of exchange. For instance, in Nigeria, there was trade by barter system. In layman’s words, trade by barter is using your own goods in exchange for other goods you’re in need of. This means, if you have a cup of garri and you need a …
Continue reading “List of Currencies In Africa: Currency Sign And Code”
The Central Bank of Nigeria (CBN) has warned that Azimo Money Transfer isn’t a registered IMTO in Nigeria. The apex bank in a tweet also warned Nigerians to steer clear of another international money transfer operator TransferWise, saying they’re not licensed to handle money transfers in Nigeria. In properly managed and regulated by the CBN, …
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Some payment platforms get the approval of the Central Bank of Nigeria to carry out cross-border payments and currency exchange. In this post, we’ll give you an updated list of international money transfer operators (IMTOs) in Nigeria. NOTE: Azimo, Transfer Wise Are Not Registered IMTOs in Nigeria Do you have family and friends abroad who …
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All over the world, a currency can either be strong or weak, depending on many factors and economic policies of such country, financial experts say. Most of the currencies in Africa are weak even before the World was hit by the coronavirus pandemic. But the pandemic has even made more currencies to lose their value …
Summary: We’ll tell you why Kuwait Dinar remains valuable than the US dollar, the most widely circulated and traded currency on forex and why KWD has maintained the number spot for several years. 1 KWD to USD=$3.27 1KWD to GBP=2.52 GBP 1KWD to Euro=2.78 EUR The value of Kuwaiti Dinar which was first issued in 1961, …
Over time, we’ve heard Nigerians asking, “Is the Emirate Dirham higher than the Nigerian Naira?” They are mostly those who are seeking greener pasture in the Arabian country. Their curiosity is centred around Dirham to Naira exchange rate when it’s ripe for them to send money back home to their loved ones. If you are …
Dollar to Naira Exchange Rate this week Monday, December 14, 2020, to Friday, December 18, 2020, is going to be interesting and here are the five things that could trigger a slight spike in the value of US dollar against the Nigerian Naira this week. Last week between Monday, December 7 to Friday, December 11, …
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A currency is money in paper form (banknotes) or coins backed by law and accepted as a medium of exchange among the people. So, what’s the strongest or valuable currency in the world today and how does it perform against the Nigerian Naira? According to the United Nations (UN) there are currently 180 currencies that …
Continue reading “Top 40 Strongest Currencies In The World, USD, GBP, Euro Are Not On Top 4”