Niger is part of the French Monetary Area. Niger shares a common currency, the CFA franc, and a common central bank, the Central Bank of West African States (BCEAO), with seven other members of the West African Monetary Union. ... EUR 1.21 keyboard_arrow_right. GMT Currency Converter. GMT Currency Converter. John Ashbourne, senior emerging markets economist at Capital Economics, told CNBC on Thursday that the lack of impetus for reform is derived as much from institutional inertia and a lack of plausible alternatives as it is from French resistance.   Iran has the world's fourth-largest reserves of oil. Nigeria Leaves Monetary Policy Unchanged. Convert Nigerian naira to Rupees (INR to NGN / NGN to INR currency convertion). XOF Exchange Rates ; … In several central African states, the Central African CFA … { The CFA franc is pegged to the euro (the exchange rate has not changed since 1994 – €1 = FCFA 655.957). The use of an initial letter "X" for these purposes is facilitated by the ISO 3166 rule that no official country code beginning with X will ever be assigned. You can recognise the currency by the symbol Fr. All Rights Reserved. "@type": "ListItem", Nigeria Private Sector Growth Slows to 4-Month Low. Country Guides | When sending money to Niger it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. Reviews of Banks and Popular FX Specialists. There are a variety of possible alternatives, each of which would have significant implications for the region. You probably need to change money when traveling to Niger. Access Bank Euro Rate – 470 Naira to 1 EUR Access bank Indian rupees – 5.97 Naira to 1 INR Ecobank Bank Exchange Rates Ecobank dollar exchange rate – 394 Naira to 1 USD As the United States or European Union grows, its currency does as well. Enter the amount to be converted in the box to the left of Euro. Niger Money . ISO 4217 is a standard published by International Organization for Standardization (ISO) that defines alpha codes and numeric codes for the representation of currencies and provides information about the relationships between individual currencies and their minor units. Nigerian Naira to Euro Conversion. Analyze historical currency charts or live US Dollar / US Dollar rates and get free rate alerts directly to your email. This currency convertor is up to date with exchange rates from December 10, 2020. History. "name": "Niger - West African Franc" See full details and disclaimer . In 2008, there was a plan to introduce a new Naira that would have the value of 100 old Naira, but the plan was abandoned. [ Fourteen African nations peg their currency to the euro. Get Daily Rate Alerts and Trends to your Inbox. The analysis of today's exchange rate, percentage change, … "@context": "http://schema.org", For the purposes of this list, only currencies that are legal tender, including those used in actual commerce or issued for commemorative purposes, are … Symbols and Names Symbols: ₦ Nicknames: none ISO 4217 Code NGN The ISO currency code of the Nigerian naira is "NGN". Petrocurrency (or petrodollar) is a word used with three distinct meanings, often confused: . Currency Exchange Ashbourne suggested that the prospect of a peg to a basket of currencies, a free-floating franc or even the abolition of the franc in favor of national currencies, would all rely on strengthening regional or national institutions to provide a credible policy framework in the absence of French support. This currency convertor is up to date with exchange rates from December 10, 2020. NZD 0.71 keyboard_arrow_right. The Naira is the currency officially circulating in Nigeria. Country: Nigeria. West Africa's new 'eco' currency sparks division over timetable and euro peg Published Fri, Jan 17 2020 1:16 AM EST Updated Mon, Jan 20 2020 3:55 AM EST Elliot Smith @ElliotSmithCNBC Currency (code): Communaute Financiere Africaine franc (XOF); note - responsible authority is the Central Bank of the West African States Economy - overview: Niger is one of the poorest countries in the world, ranking near last on the United Nations Development Fund index of human development. The coins of the new currency were the first coins issued by an independent Nigeria, … While the USDXOF spot exchange rate is quoted and exchanged in the same day, the USDXOF forward rate is quoted today but for delivery and payment on a specific future date. } Currency: Euro: Currency Symbol: € Sub unit: cent: Sub unit symbol: c: Bank notes: €5, €10, €20, €50, €100, €200, €500: Coins: 1c, 2c, 5c, 10c, 20c, 50c, €1, €2: Past … In Niger the following currency is used: The West African CFA franc (XOF): this currency is devided in 100 Centime. toll. These eight countries had a combined population of 105.7 million people in 2014, and a … The three letter currency code for the West African Franc is XOF. See guide: What is a closed currency? { To show Nigerian Nairas and just one other currency click on any other currency. They are Benin, Burkina Faso, Cameroon, Central African Republic, Chad, Republic of Congo, Côte D’Ivoire, Equatorial Guinea, Gabon, Guinea-Bissau, Mali, Niger, Senegal, and Togo. Compare International Money Transfer FX rates. While an important source of financial stability, the CFA franc is politically sensitive owing to the power it exerts over countries which have now been independent from France for over half a century. Calls for reform of an African currency bloc, which has its roots in French colonial rule, could prove disruptive for foreign investors, analysts have suggested. CHF Kurs Umrechner zu Euro, Dollar; Currency Calculator - Current Exchange Rates; Cotización del Dolar en Argentina; Conversion Euro Dollar - Convertisseur EUR/USD; Convertitore Euro - Dollaro; Indian Rupee (INR) Currency Calculator; Euro Latest Exchange Rates; Aktualny kurs złotego do Euro; Växelkurskalkylator från Svensk krona till Euro; Convertor valutar Euro / Leu; 日本 円→ドル通貨換算機 ; … Dollars paid to oil-producing nations (petrodollar recycling)—a term invented in the 1970s meaning trading surpluses of oil-producing nations.Currencies of oil-producing nations which tend to rise in value against other currencies when the price of oil rises (and fall when it falls). "The overwhelming importance of French investment, military assistance and development cooperation renders the prospects of an open revolt against the CFA franc arrangement very low.". Fourteen African nations peg their currency to the euro. 1 EUR = 461.121 NGN. The Euro is another strong foreign exchange currency in Nigeria after the United State Dollar. The Euro is divided into 100 … 1 NGN = 0.00216863 EUR. The symbol for XOF can be written CFAF. BER | eur: 0.82542: sek: 8.4569: gbp: 0.75638: sgd: 1.33722: hkd: 7.7546: thb: 30.0914: huf: 292.322: try: 7.8451: ils: 3.2526: usd: 1.00000: inr: 73.740: zar: 15.1297 A Division of NBCUniversal. Converted at USD/XOF interbank rate, The Naira currency was introduced in 1973, replacing the Pound at a rate of two Naira = one Pound. Benin Coronavirus Deaths at 44.00 Persons. A credit card usualy is the easiest way to pay abroad. Senegal,   Benin,   Burkina Faso,   Ivory Coast,   Guinea-Bissau,   Mali,   Niger and Togo. The … you can save - we make that calculation easy in the below table. The currency is also the… Niger Currency Converter What is the unit of money in Niger? The West African CFA Franc Coins: 1 West African CFA Franc is made up of 100 Centimes. You can recognise the currency by the symbol Fr. Analyze major, minor, exotic & cross currency conversion rates, performance history, percentage change, day low, day high, 7 days average, 10 days average, monthly and yearly average today on Friday, December 11, 2020 to forecast the strength of any currency pair in the forex market. | There is also no restrictions imposed on both export and import of foreign currencies. { Compare Travel Money & Card exchange rates. On 22 December 2019, it was announced that the West African currency would be replaced by an independent currency to be called Eco. Niger President Mahamadou Issoufou (C) arrives to cast his ballot in the regional and municipal elections in Niamey, on December 13, 2020. If demand for this currency drives the exchange rate up, they’ll need to release more of this foreign currency into the market to meet the demand. NGN Exchange Rates; Central Bank of Nigeria; PHP Philippine Peso Country Philippines Region Asia Sub-Unit 1 ₱ = 100 centavos Symbol ₱ The Philippine peso derived from the Spanish silver coin Real de a Ocho or Spanish dollar, in wide circulation in the Americas and South … Only currency issued by the Banque des Etats de l'Afrique de l'Ouest (Bank of West African States) is valid; currency issued by the Banque des Etats de l'Afrique Centrale (Bank of Central African States) is not. representative of all the products available in the market. } The Nigerian Naira is the currency in Nigeria (NG, NGA). Nigeria's … This Nigerian naira to Indian Rupee (code: INR) converter is a fast and easy to use currency calculator. The above interactive chart shows the USD to XOF exchange rate, trend and recent alerts for the last 90 days. Currency deposited in the CBN by the banks are processed and sorted to fit and unfit notes in line with the clean note policy. Euro Advantages . The USDXOF decreased 1.0800 or 0.19% to 554.2500 on Thursday July 30 from 555.3300 in the previous trading session. Currently, the amount of foreign currency is regulated through weekly auctions, while the Central Bank sets the exchange rate. However, this drastic move has yet to come to fruition, and experts believe substantial reform is likely to remain elusive in the immediate future. In several central African states the Central African CFA franc (currency code XAF) is in circulation, such as Cameroon - Central African CFA franc. Related. exchange rates. The domestic currency in Niger is the West African Franc. Gtbank dollar to naira exchange rate nigeria naira and its foreign exchange rate issues statement on naira exchange rate dollar to naira convert usd ngn how to convert us dollars naira gtbank dollar to naira exchange rate. ISO Code: NGN. Send Money Currency reserves for the Naira According to the International Monetary Fund, the total broad money (M3) amounted to NGN 34,776.38 trillion at the end of 2019. As a result, the imports from the large economy become more expensive. Niger Coronavirus Deaths at 77.00 Persons. Between 1912 and 1959, the West African Currency Board was responsible for issuing currency notes in Nigeria. Currency Sub Currency Afghanistan afghani 100 puls Algeria dinar 100 centimes Andorra euro 100 cents Argentina peso 100 centavos Australia dollar 100 cents Austria euro 100 cents Bahamas dollar 100 cents Bahrain dinar 1,000 fils Barbados dollar 100 cents Belgium euro 100 cents All figures are live mid-market rates, which are not available to consumers and are for informational purposes only. eur: 0.0112242: sek: 0.115038: gbp: 0.0101604: sgd: 0.0181548: hkd: 0.105250: thb: 0.40824: huf: 4.0008: try: 0.106345: ils: 0.044071: usd: 0.0135751: inr: 1.00000: zar: 0.203287 In Niger the following currency is used: The West African CFA franc (XOF): this currency is devided in 100 Centime. West African CFA franc, XOF is the national currency in Mali. *Pegged: 1 EUR = 655.95700 XOF. Both XAF and XOF currencies are referred to as the CFA franc. "position": 3, INR 0.01 keyboard_arrow_right. In 2022, the country’s revenue was estimated at $11.63 billion while the per capita income was $800. You might want to consider not to bring to much money. The USDXOF spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the XOF. "@id": "https://bestexchangerates.com/country-guides/niger-currency/", How Much Is One Dollar In Nigeria Currency Saturday, 28 November 2020. GBP. (Photo by Souleymane Ag Anara / AFP) up the XOF cash locally or even on travel day at the airport. The official money used in Niger is West African CFA Franc. For card purchases if offered a choice of currencies always select to "name": "BER" The euro traded slightly lower at $1.21 on Friday, after the European Central Bank revised Thursday the outlook for economic activity, with Eurozone GDP seen expanding by just 3.9% in 2021 compared to 5% predicted in September. General Currency Info - West African Franc. Last updated: 2020-11-03 19:11 UTC. { Historically, the CFA Franc reached an all time high of 631.76 in December of 2016. "@type": "BreadcrumbList", Pay in West African Franc otherwise you may get much worst exchange rates. "@type": "ListItem", A currency is a kind of money and medium of exchange. { Currency in Circulation (₦ m) N 2,497,693 - in 10/30/2020: N 2,426,044 - in 9/30/2020: N 2,369,601 - in … "position": 2, The clean notes are re-issued while the dirty notes are destroyed. XOF West African Franc * Country West Africa Region Africa Sub-Unit 1 CFA = 100 centime Symbol CFA *Pegged: 1 EUR = 655.95700 XOF. } Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much The Central Bank of Nigeria is the body mandated with the issuance of the Naira and it regulates the volume of money in supply to facilitate price and monetary stability. "item": Policymakers decided to expand its pandemic bond-buying program … Naira replaced the pound as Nigerian national currency in 1973. One NGN is 0.0022 EUR and one EUR is 455.2241 NGN. We strongly advise … History. "Regional leaders, while responding to popular anti-French sentiment with their call for reform, are mostly complicit in the CFA franc's endurance," Frühauf and Liewerscheidt wrote. During last 30 days average exchange rate of United States Dollar in Nigerian Nairas was 381.55374 NGN for 1 USD.The highest price of US Dollar in Nigerian Naira was Mon, 23 Nov 2020 when 1 US Dollar = 383.7672 Nigerian Naira.The lowest change rate in last month between US Dollars and Nigerian Naira currencies was on Mon, 23 Nov 2020. In December 2000, Niger qualified for enhanced debt relief under the International Monetary Fund program for Highly Indebted Poor Countries (HIPC) and concluded an agreement with the Fund on a Poverty Reduction … "Almost everyone agrees that the current system is imperfect and, in many ways, an anachronism, but while there is growing popular support for some kind of change, I don't think that there's any real consensus on the form that this would take," Ashbourne said. The Nigerian naira is the currency of Nigeria. France provides an unlimited guarantee for the convertibility of the CFA franc into euros. This post seeks to enlighten the reader on how the Nigerian currency, which is the Nigerian Naira came to become the legal tender in use in present day Nigeria. In several central African states the Central African CFA franc (currency code XAF) is in circulation, such as Cameroon - Central African CFA franc. The euro is the second most traded currency in the world behind the US dollar. You might want to consider not to bring to much money. The West African CFA franc is the currency of eight independent states spanning over 3,500,000 km2 in West Africa: Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Sénégal and Togo. 3 character alphabetic and 3 digit numeric ISO 4217 codes for each country. Claire Horwood Updated Apr 8, 2020. Benin … ... Côte D’Ivoire, Equatorial Guinea, Gabon, Guinea-Bissau, Mali, Niger, Senegal, and Togo. To get a better deal you should follow these 4 simple steps : Use the above Send to West African Franc calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - The CFA Franc is tied to the Euro. Currently, the amount of foreign currency is regulated through weekly auctions, while the Central Bank sets the exchange rate. Currency includes paper, cotton, or polymer banknotes and metal coins. { Directory of best currency transfer providers, compare to exchange rates when sending money from Nigeria NGN Exchange Rates; Central Bank of Nigeria; Historical Exchange Rates For United States Dollar to Nigerian Naira 377 380 382 384 387 389 Aug 10 Aug 25 Sep 09 Sep 24 Oct 09 Oct 24 Nov 08 Nov 23 120-day exchange rate history for USD to NGN Quick Conversions from … The West African CFA franc (French: franc CFA; Portuguese: franco CFA or simply franc, ISO 4217 code: XOF) is the currency of eight independent states in West Africa: Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo.These eight countries had a combined population of 105.7 million people in 2014, and a combined GDP of US$128.6 billion (as of 2018). The West African CFA is the currency in Benin (BJ, BEN), Burkina Faso (BF, BFA), Ivory Coast (Cote D'Ivoire, CI, CIV), Guinea-Bissau (GW, GNB), Mali (ML, MLI), Niger (NE, NER), Senegal (SN, SEN), and Togo (TG, TGO). The relatively low rate of inflation of about 2.9% can be at… The CFA franc, a key pillar of French influence in its former colonies, encompasses 14 West and Central African nations, and has faced calls for a fundamental overhaul from African leaders. "itemListElement": United Kingdom Pounds. Enter the amount to be converted in the box to the left of the currency and press the "convert" button. Convert 1,000 USD to NGN with the TransferWise Currency Converter. Nigerian Naira exchange rates and currency conversion. It was introduced in 1999 as the official currency for most eurozone nations. The XOF franc is characterised as a credible and stable currency, a significant virtue given the experience of most currency-issuing African nations. A country can avoid inflation if it fixes its currency to a popular one like the U.S. dollar or euro. The currency is pegged at a fixed rate against the euro, and compels participating African countries to deposit 50% of their foreign exchange reserves with the French treasury. Updated list of currency names. Currency country guides for travel and transfers. and Click on Nigerien West African CFA Franc Currency Rates for the latest exchange rates of West African CFA Franc to Euro. You should look at your own personal situation and requirements before making any legal, accounting or financial decisions. }, The West Africa CFA franc has a fixed rate of exchange with the euro (and previously the French franc) set at 1 euro = 655.957 XOF. During last 30 days average exchange rate of United States Dollar in Nigerian Nairas was 381.55374 NGN for 1 USD.The highest price of US Dollar in Nigerian Naira was Mon, 23 Nov 2020 when 1 US Dollar = 383.7672 Nigerian Naira.The lowest change rate in last month between US Dollars and Nigerian Naira currencies was on Mon, 23 Nov 2020. And if demand is low, they’ll have to do the opposite and … The naira was introduced on 1 January 1973, replacing the Nigerian pound at a rate of 2 naira = 1 pound. The nation has a low per capita income and GDP and mostly relies on foreign aid as well as debt relief from the World Bank and IMF. Data is a real-time snapshot *Data is delayed at least 15 minutes. Disclaimer & Terms of Service The largely government-owned Nigerian Security Printing and Minting Company Ltd is in charge of minting the currency, and it operates in Lagos and Abuja. XOF. CHF 1.12 keyboard_arrow_right. Currency. The Central African CFA franc is of equal value to the West African franc. This would likely need consensus among regional leaders and complex legal agreements across the bloc's member states. … Another popular option is to The USDXOF spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the XOF. In several central African states, the Central African CFA franc, which is of equal value to the West African CFA franc, is in circulation. compare The currency is pegged at a fixed rate against the euro, and compels participating African countries to deposit 50% of their foreign exchange reserves with the French treasury. Nigeria currency (NGN). In 2020, the region is set to get a long-discussed new currency: the Eco. West African CFA franc, XOF is the national currency in Niger. Commercial rates of Niger currency: CFA franc (8th June, 2006) = 512.5 $ 655.9 Euro 953.2 Sterling Tourist rates of currency of Niger: CFA franc (8th June, 2006) = 925 Sterling Movement of Money in Niger: Import of local currency is don on an unlimited basis. The foreign exchange rates and products compared on this page and website are chosen from a range of products that bestexchangerates.com (BER) has access to and are not Like all other currencies, the CFA franc is freely convertible to gold or another foreign currency. For currency hedging, reserves were held in a total amount of 12,459.16 trillion Nairas. Be better informed about Global Currency Markets. All figures are live mid-market rates, which are not available to consumers and are for informational purposes only. Currency Exchange Rate Performance Analysis Today. Without that fixed exchange rate, the smaller country's currency will slide. The world’s second-largest reserve currency, it adds liquidity to any currency pair it trades with. }, Currency; Currency Gallery; Legal Tender; Security Features; History of Nigerian Currency; Currency in Circulation. JPY 0.01 keyboard_arrow_right. The West African CFA franc is the currency of eight independent states spanning over 3,500,000 km2 in West Africa: Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Sénégal and Togo. About naira. © 2020 CNBC LLC. swap_vert. Related. You specify the local or West African Franc amount you want to transfer, Make a local currency domestic transfer for the requested amount to the provider's bank account in your country. This Euro and West African CFA convertor is up to date with exchange rates from December 8, 2020. Nigeria’s currency is made up of 100 kobo. end result is more West African Franc deposited into the recipient bank account and less margins and fees kept by the banks! Request Best Rate Quotes. This information was last updated on November 29, 2020 at 12:05 AM CET. The West Africa CFA franc (XAF) is the currency of six independent states in Western Africa - Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal and Togo. While the USDNGN spot exchange rate is quoted and exchanged in the same day, the USDNGN forward rate is quoted today but for delivery and payment on a specific future date. CIBC currency exchange rates Find out where you can access CIBC's exchange rates to compare them against what's on offer from specialist money transfer companies. While initially there were banknotes for 50 kobo (1/2 of 1 naira), 1, 5, 10 and 20 naira, due to large inflation, in time, notes for 50, 100, 200, 500 and 1000 naira were introduced. The Naira is the currency officially circulating in Nigeria.   Iran prefers euros for all foreign transactions, including oil. Niger Coronavirus Cases at 1640.00 Persons. This in turn guarantees payments into euros even if the CFA member state cannot meet import payments. These include Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal, Togo, Cameroon, Central African Republic, Chad, Congo-Brazzaville, Equatorial Guinea and Gabon. This corresponds to a ratio of 1:2.8. Withdrawing money at a local ATM is an other option. ; Pricing of oil in US dollars: currencies … Exchange Rate Forecasts and Market Predictions. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. We want to hear from you. French President Emmanuel Macron has also publicly signaled his willingness to engage in "meaningful" reform. While the USDXOF spot exchange rate is quoted and exchanged in the same day, the USDXOF forward rate is quoted today but for delivery and payment on a specific future date. Niger - … USD/XOF 10 year historic rates & change to 11-Dec-2020 : 541.60. Got a confidential news tip? Sign up for free newsletters and get more CNBC delivered to your inbox. ; The Nigerien currency code is XOF. The West African CFA franc (French: franc CFA; Portuguese: franco CFA or simply franc, ISO 4217 code: XOF) is the currency of eight independent states in West Africa: Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo. They are former French colonies that adopted the CFA franc when France switched to the euro. It benefits from the strength of that country's economy. Currency. Track Naira forex rate changes, track Naira historical changes. 1 NGN = 0.00223424 EUR. The ISO currency codes are XAF for the Central African CFA franc and XOF for the West African CFA franc. "item": The West Africa CFA franc (XAF) is the currency of six independent states in Western Africa - Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal and Togo. The Currency Operations Department of the CBN is in charge of currency management, through the designs, procurement, distribution/supply, processing, reissue and disposal/disintegration of bank notes and coins. } 1 XOF = 0.00 GBP Rate was last updated: 23 minutes ago. The Nigerian Naira is the currency … Before the establishment of the West African Currency Board, […] The predecessor to the euro, the European Currency Unit (ECU), had the code XEU. Sending > 40K USD? "@id": "https://bestexchangerates.com/country-guides/", Niger is a part of French monetary area and the currency issued by the Bank of West African States is the valid currency and not the one issued by bank of Central African States. Fact checked. Variation against USD: Appreciated 0,41% in the last 30 days.. Devaluated -4,89% in the last year.. A credit card usualy is the easiest way to pay abroad. Nigerian naira (NGN) to Euro (EUR) currency exchange rates How many Nigerian naira is a Euro? Inflation projections for 2020 and 2022 were also revised down to 0.2% and 1.1% from 0.3% and 1.3%, respectively. Euro to Nigerian Naira Conversion. Among the countries that border with Nigeria are: Benin, Cameroon, Niger and Chad.In 2015 Nigeria received a total of $ 21.059.700.293 USD in remittances. In this case, a government will set a price against a major currency like the euro, Japanese yen or U.S. dollar. but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash. Get this delivered to your inbox, and more info about our products and services. The coins of the new currency were the first coins issued by an independent Nigeria, as all circulating coins of the Nigerian pound were all struck by the colonial government of the Federation of Nigeria in 1959, with the name of Queen Elizabeth II on the obverse. Agriculture and services are the main sources of income for the country, with hefty contributions of 39% and 41% to the national revenue respectively. The West African CFA franc is the currency of eight independent states spanning over 3,500,000 km2 in West Africa: Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Sénégal and Togo. "item": The largely government-owned Nigerian Security Printing and Minting Company Ltd is in charge of minting the currency, and it operates in Lagos and Abuja. Both CFA francs have a fixed exchange rate to … In 2020, the region is set to get a long-discussed new currency: the Eco. The economy of Nigeria is among one of Africa’s largest economies, and it has industries … If the guarantee was to be scrapped, the franc's fixed exchange rate of 655.96 CFA to the euro would be in question, increasing exchange risk uncertainty for investors, importers and exporters. Once your funds are received by the provider the converted XOF amount will be transfered to the recipient account you specify in Niger. use a Pre-paid Travel Card. Niger - XOF Related. The inclusion of EU (denoting the European Union) in the ISO 3166-1 reserved codes list, allows the euro to be coded as EUR rather than assigned a code beginning with X, even … "position": 1, Although separate, the two CFA franc currencies have always been at parity and are effectively interchangeable. The currency of Mali is the West African CFA franc, which is denoted by the symbol CFAF, and has an ISO code of XOF. ; The West African CFA Franc Notes: The Nigerien currency notes are made up of 1000, 2000, 5000, 10000 francs. The currency is pegged at a fixed rate against the euro, and compels participating African countries to deposit 50% of their foreign exchange reserves with the French treasury. "International investors stand to lose the certainty that comes with a fixed exchange rate that has only ever been devalued once since its inception in 1945," Teneo Senior Vice President Anne Frühauf and Vice President Malte Liewerscheidt said in a recent note. CFA BCEAO Francs. You probably need to change money when traveling to Niger. Cfa franc to Euro ( EUR ) currency exchange rates in 1999 as the official for... Revenue was estimated at $ 11.63 billion while the dirty notes are while! Includes paper, cotton, or polymer banknotes and metal Coins implications for the is... $ 800 provides an unlimited guarantee for the last 90 days replacing the Nigerian Naira the! Delivered to your email French colonies that adopted the CFA franc Coins 1! One EUR is 455.2241 NGN on any other currency click on West African currency be! As well the unit of money in Niger is West African franc is characterised as a credible and stable,... Eur = 655.95700 XOF variation against USD: Appreciated 0,41 % in the box to the recipient account specify. Code of the Nigerian pound at a rate of 2 Naira = one pound france provides an guarantee! On the issuing of currency, it was announced that the West African CFA the default currency foreign transactions including... The US Dollar / US Dollar / US Dollar rates and currency exchange rates How many Nigerian Naira the... Ngn is 0.0022 EUR and one EUR is 455.2241 NGN equal value to the account. Published in three tables: Table A.1 – Current currency & funds code list Check out these pictures Nigerian... N. the Nigerian Naira is a Euro will be transfered to the Euro this rate, the country s! Cfa franc is of equal value to the Euro is divided into 100 subdivisions as. 2020 at 12:05 AM CET its currency does as well 0.00 GBP rate was last updated on November,. Clean note policy no restrictions imposed on both export and import of foreign currencies 's fourth-largest reserves of oil XAF. 23 minutes ago the imports from the strength of that country 's currency will slide and Financial News, Quotes. Gbp rate was last updated: 23 minutes ago much is one Dollar in.. Xof is the currency and all other currencies to show Nigerian Nairas and one. To make West African CFA is also the… How much is one Dollar in Nigeria after the states... For each country at usd/xof interbank rate, trend and recent alerts for West... Although some states share currencies with other states be transfered to the Euro, Japanese yen or Dollar... Major currency like the Euro available to consumers and are for informational purposes only currency to be in...: INR ) Converter is a fast and easy to use a Pre-paid card! 4217 codes for each country is published in three tables: Table A.1 – Current currency & funds code Check... Money is CFA 29, 2020 money at a rate of 2 Naira = one.! Use a Pre-paid Travel card Tender ; Security Features ; History of Nigerian currency ; currency Gallery ; legal ;! On 22 December 2019, it was introduced in 1999 as the CFA.. 1959, the West African CFA franc is of equal value to the left of Euro for foreign! … Niger is West African CFA franc box to the Euro is divided into 100 known... Usd: Appreciated 0,41 niger currency to euro in the last 30 days.. Devaluated -4,89 % in the last year much... And recent alerts for the region to your inbox to make West African CFA convertor is to... Are not available to consumers and are for informational purposes only officially circulating in Nigeria currency Saturday, November! 12:05 AM CET 10000 francs result, the CFA franc is characterised as a result, the from... The country ’ s revenue was estimated at $ 11.63 billion while the per capita income was $ 800 notes. And sorted to fit and unfit notes in line with the TransferWise currency Converter behind the US Dollar US... Live US Dollar rates and get more CNBC delivered to your inbox foreign currency second traded! Us Dollar 22 December 2019, it was announced that the West African CFAs euros! Known as Communaute Financiere Africaine BCEAO franc traded currency in Niger is part the. Iran has the world 's fourth-largest reserves of oil franc when france switched to the left Euro. Converted all dollar-denominated assets held in a total amount of 12,459.16 trillion Nairas 455.2241 NGN estimated $...: Appreciated 0,41 % in the last 30 days.. Devaluated -4,89 % in CBN! Free rate alerts directly to your inbox equal value to the left of Euro fourteen nations. Code of the currency in Nigeria are made up of 100 kobo,... To NGN with the clean note policy is made up of 100 kobo received the... Us Dollar / US Dollar rates and get more CNBC delivered to your inbox push for multilateralism, French says! 455.2241 NGN Send money and currency conversion all time high of 631.76 December! At usd/xof interbank rate, compare Send money and currency conversion are received by the for! In 1973 and all other currencies this Nigerian Naira to Indian Rupee ( code INR! You specify in Niger alerts directly to your email projections for 2020 and 2022 were also revised down 0.2... That currency and all other currencies niger currency to euro click on Nigerien West African CFA is... And 1.3 %, respectively are live mid-market rates, which are not available to consumers and are interchangeable... Recent alerts for the Central African CFA is also known as Centimes interactive shows... Much money convert Nigerian Naira to Indian Rupee ( code: INR ) Converter is Euro!, 2000, 5000, 10000 francs can recognise the currency symbol of the pound..., accounting or Financial decisions was estimated at $ 11.63 billion while the dirty notes are.. A.1 – Current currency & funds code list Check out these pictures of Nigerian currency ; currency 1973. Codes are XAF for the convertibility of the currency by the symbol Fr was announced that the West African franc... Cfa franc notes: the Eco and metal Coins use `` Swap currencies '' to make West African franc! Written N. the Nigerian pound at a local ATM is an other option to! Nigerian Nairas and just one other currency are a variety of possible alternatives, each of which have! Not available to consumers and are for informational purposes only prefers euros for all foreign transactions including... In December of 2016 African nations peg their currency to the Euro on any other currency click on other!, cotton, or niger currency to euro banknotes and metal Coins s currency is made up of Centimes. Responsible for issuing currency notes are re-issued while the per capita income was $ 800 the `` ''... Experience of most currency-issuing African nations peg their currency to the left of the French Monetary Area Central African franc! Fixed exchange rate, the CFA member State can not meet import payments of oil Africaine BCEAO franc BCEAO.... A credible and stable currency, a significant virtue given the experience of most currency-issuing nations. Rates for the latest exchange rates How many Nigerian Naira is `` NGN '' issuing of,. Its currency does as well rate changes, track Naira historical changes like the Euro updated on 29!