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The official exchange rate set by the Central Bank of Nigeria: naira to U.S. dollar is approximately ₦767.54 per 1 US dollar. This rate is almost two times different from the illegal black market exchange rate. The Black-Market exchange rate of the naira to the U.S. dollar is approximately ₦752.50 per 1 US dollar.
The Central Bank of Nigeria Act 2007 gives the central bank, Central Bank of Nigeria (CBN) the right to issue Nigeria's legal tender which is legally prescribed to be the Naira. The act also gives the CBN the sole right to issue Naira and the right to determine the exchange rate of Naira to other fiat currencies.
On Wednesday, local media reported that Nigeria’s telecom regulator, the Nigerian Communications Commission (NCC), received instructions from the country’s apex bank to suspend access to ...
The exchange rate of the currencies as well the as gold price of the reported date is considered while calculating U.S.$ equivalents. Not all countries keep gold as reserves to avoid physical storage costs & the risks associated with it, hence there are no values in excluding gold column. Sorting the data in desirable column would provide rankings.
A Nigerian court on Friday adjourned a tax evasion trial against cryptocurrency exchange Binance and two of its executives to May 17 after the matter was stalled because the exchange has not been ...
Binance will discontinue its naira (NGN) services in response to heightened regulatory scrutiny in Nigeria, it said in a blog post today. The cryptocurrency exchange will begin delisting any ...
Nigeria’s central bank has ended its distorted foreign exchange rate, a move the new government in Africa’s biggest economy hopes will help woo investors and stabilize the local currency. The ...
This is a list of countries by their exchange rate regime. [ 1] De facto exchange-rate arrangements in 2022 as classified by the International Monetary Fund. Floating ( floating and free floating) Soft pegs ( conventional peg, stabilized arrangement, crawling peg, crawl-like arrangement, pegged exchange rate within horizontal bands) Hard pegs ...