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Cefa To Naira Exchange Rate Today October 2018 CFA (XAF)

This page provides daily updated information on Cefa to Naira exchange rate and currency calculator for black market rate and parallel market rate.

Todays Cefa to Naira exchange is NGN 1 = 1.57 CFA (XAF).

What is Cefa Naira Black Market Rate Today?

Seme boarder Parallel Market xof cfa rate 1 Naira = CFA 1.6000

BUY RATE : 600
SELL RATE : 625

Come back tomorrow on this blog to check the latest update. The Nigerian Naira currency is gradually gaining strength in the currency exchange market after months of free fall and economic hardship in the country.

Meanwhile Cefa Currency also referred to as Central African CFA and XAF is the currency used by many French speaking West African Countries such as Cameroon (CM, CMR), Central African Republic (CF, CAF), Chad (TD, TCD), Congo (CG, COG), Equatorial Guinea (GQ, GNQ), and Gabon (GA, GAB). Because of variation in exchange rate, the business between Nigeria and the Benin Republic traders who trade with countries using CFA has not being as it used to be. 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 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…

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A Brief Information About Naira And Cefa

Find below information about Naira and Cefa money.

Naira currency

Naira

Naira is the official currency of the Federal Republic of Nigeria and it’s represented with these symbols ₦, N, and NGN. Before the Naira was first issued in 1959 as a currency, cowries and manilas was used as an exchange means (money).

By 1st July, 1962, the legal tender status was changed to showcase Nigeria’s new independent status. The currency notes were again changed in 1968 during the civil war.

The government announced on March 1971 that it would change to decimal currency system as from 1st January, 1973.

It also announced that the major currency unit would be called Naira represented with the symbol “₦” and minor unit, kobo with symbol “k”

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As at February 28, 2007, the Naira was modified and changed into Polymer notes. Although not all naira notes were changed to new versions.

As at August 2018, there are eight different denomination of the Naira currently – 5 Naira, 10 Naira, 20 Naira, 50 Naira, 100 Naira, 200 Naira, 500 Naira and 1000 Naira notes.

Cefa to Naira Exchange Rate

CEFA

That’s it on todays Cefa to Naira exchange rate both in the interbank rate (CBN rate) and parallel market (black market rate). You may bookmark this page for future references.

Ref: Wikipedia, CBN.

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