CEFA TO NAIRA EXCHANGE RATE TODAY BLACK MARKET {CFA} UPDATED DAILY

How Much Is Cefa To Naira Exchange Rate Today Black Market

The Cefa is the currency of the Benin Republic and other countries using the CFA.

Currently N1 equals to 1.6181CFA and this is very bad rate considering traders that trade within countries using the CFA such as traders trading at the border of Benin Republic.

Before the trade is cheaper due to the currency but with the increase in the currency import is now higher and less gain only export gains high between the trade.

{ 1 Cefa to Naira or 1 CFA to Naira }

Cefa to naira exchange rate today black market

Cefa to naira exchange rate today black market

How Much Is CEFA To Naira Exchange Rate Today Black Market

1 Naira = CFA 1.6181

  • Buy Rate = 600
  • Sell Rate = 618

The Naira is falling and below are some of the reason the Naira is falling and the CEFA increasing.

IMPORTATION OF GOODS 

Importation of goods is on the high rise both legally and smuggling although no matter what we discuss and say on importation it would not stop but let the truth be told most times.

Our nigeria importers patronizing the Benin republic which is now a dumping ground of used goods such as cars, used shoes, clothes and other materials.

We Nigeria import the product and we do this at the expense of our currency by exchanging our currency for the goods we give the value of the CFA to go high.

Nigeria as the giant of Africa is supposed to be the one in charge of the way other Africa countries within it’s region currency should go and if our importers would take goods along to sell in Benin Republic before buying goods from them the value would be balanced.

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FALL OF NAIRA AGAINST THE USD DOLLAR

The Nigerian Naira has had a great fall against the dollar in the past year but looking at the CFA which have been stable and that is a great challenge to the Africa giant whereby it’s Naira is unstable.

And unless the Naira gains strength or stability against the dollar the CFA would still be gaining high grounds.

CEFA TO NAIRA EXCHANGE RATE TODAY BLACK MARKET.

SOME FACTS TO NOTE ABOUT THE CEFA { THINGS YOU NEED TO KNOW}

Countries Using The CEFA

CFA francs are used in fourteen countries: twelve nations formerly ruled by France in West and Central Africa (excluding Guinea and Mauritania, which withdrew), plus Guinea-Bissau (a former Portuguese colony), and Equatorial Guinea (a former Spanish colony).

Did You Know?:

That there are two currencies of the CEFA which are the west African CEFA Franc with ISO 4217 with currency code XOF and the Central Africa CEFA Franc with ISO 4217 and currency code XAF.

I bet you didn’t know that but know you know right?

And I want you to keep in mind that the West Africa CEFA cannot be used in the Central Africa and vise versa.

So don’t make the mistake 😂😂😂😂

So this has been a great article because you’ve learnt some facts about the CEFA which you were ignorant of before but your now educated on it. How much is CEFA To Naira Exchange Rate Today Black Market scroll up if you’ve forgotten.

Thanks for reading this post on “How Much Is CEFA To Naira Exchange Rate Today Black Market XOF CFA” share this post to others and enlighten them and don’t forget to drop your comments and suggestions below.

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