The CeFA was created on 26th December 1945, during the time the French franc was weak and this was after World War II. Exchange Rates Updated: Nov 27,2020 06:55 UTC. Track the exchange rate. Your email address will not be published. NGN 1 Naira To CFA 1 CEFA Exchange Rate Today June 2017. 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. Sign up to get notified, and we’ll let you know as soon as we can. How Much is Dollar to Naira Exchange Rate . Amount. In the Parallel or Black Market, you can buy 1 Cefa with NGN 620 and sell 1 Cefa for NGN 590. It is Benin's second largest city, and although the official capital, the city of Cotonou is more important, culturally and politically. Your email address will not be published. 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. The creation of the CFA was done in the year 1945 on December 26. . Do you know that the West African CFA franc cannot be used in the Central Africa countries and also the Central Africa CFA franc cannot be used in West African countries? Do you know that the former Portuguese colony of Guinea Bissau adopted the currency in 1994. Historical Exchange Rates For West African Franc to Nigerian Naira 0.677 0.683 0.689 0.695 0.701 0.706 Aug 11 Aug 26 Sep 10 Sep 25 Oct 10 Oct 25 Nov 09 Nov 24 120-day exchange rate history for XOF to NGN Quick Conversions from West African Franc to Nigerian Naira … Prices of Toyota Cars in Cotonou. Welcome to the Nigerian Naira exchange rate & live currency converter page. Looking for cheap last minute flights or a weekend getaway? It should be known that other countries except for Mali, which was formerly French Sudan, they were able to replace the currency with their own Franco in 1961 but later on returned to use the CFA franc BCEAO in 1984. revealed: How much is 1 Bitcoin to naira today - THIS is the reality! Today; Graph; Historical; Naira to Franc - NGN/XAF Invert ₦ = 1 Nigerian Naira = 1.4205 CFA BEAC Franc updated 01:35:00(PST) 11/12/2020. 1 NGN = 1.44643 XOF. How Much is a Flight from Dakar to Cotonou? All prices are in Naira. We have collected flight cost data from across the web for travel from Dakar to Cotonou, and have found the average flight price for this trip to be CFA387,989. As one person would say, ‘we now use the money to buy two cars as one.’ this in itself had draft reduced trade between the two countries as most people only buy there because of the cheaper rate they get goods due to the exchange rate then. The NGN conversion factor has 4 significant digits. In lagos nigeria s gest city only how much is 1000 euro eur to ngn pounds to naira how convert gbp how much is 1000 in naira june 2020 how much is cefa to naira exchange rate how much is 1000 in naira june 2020. Full history please visit NGN/XAF History NGN XAF coinmill.com 200 288 500 719 1000 1439 2000 2877 5000 … US Dollar rate is ₦475 against Naira in Black Market (Lagos) today, December 11, 2020. Subscribe to Blog via Email. 1 XOF = 0.677622 NGN. We can't send money between these currencies. Exchange rates for the Nigerian Naira against foreign currencies from Africa are displayed in the table above. Convert CFA Franc (BCEAO) To Nigerian Naira . How Much is Dollar to Naira Exchange Rate . They are both distinguishes in French by the meaning of their names. The CFA franc exchange rate was changed only twice and this was in the year 1948 and 1994. How Much Is Cefa To Naira Exchange Rate Today Black Market – The exchange rate of CFA franc. Cost of Cotonou Cars. Please note that prices of cars may vary depending on its mileage, neatness, engine strength, year of manufacture and other factors, so the real sale price of a car might be slightly above or below the stated ranges but Naijauto tried to have the price ranges as accurately as possible. Banks and traditional providers often have extra costs, which they pass to you by marking up the exchange rate. Currency Converter; Transfer Money ; Historical Rates; About Us; Home » Nigerian Naira » to CFA BEAC Franc . Wide range and variety of cars: Because Cotonou is the largest … Cefa to Naira exchange – Black Market . Full history please visit GHS/NGN History To view Nigerian Naira historical exchange rates, click on the Table and Graph links. This amount is relatively low compared to the Naira equivalent usually charged at the Nigerian ports. This makes a 1.75% rise for EUR rate against Naira this week.. With EURO being traded … Trust me reading this will shock your marrows because you have not seen this anywhere. The Government of Benin Republic charges a fixed import duty of 500,000 Cefa on all imported cars. Below are some of the reasons for the falling price of Naira against the CFA. Exchange rates are updated every 15 minutes. Our currency converter will show you the current XOF to NGN rate and how it’s changed over the past day, week or month. Below you can see the chart for the West African CFA Franc rate today compared to the Nigerian Naira. The region around Porto-Novo produces palm oil, cotton and kapok. 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