Hi Nairalanders i have a question to ask before purchasing some items (Chinese Yuan)

- ¥ 1 = ₦ 52.7009 while

- 1 NGN = ₦ 0.0188342 to Chinese yuan

Now if i want to purchase an item which is
E.g ¥ 50

Will bank change it this way ¥ 1 = ₦ 52.7009 x 50

OR

Naira to yuan which is 1 NGN = 0.0188342 x 50



Thanks

The bank will charge you in Naira which 52yuan..

I don't really get you

its 50 yuan times 52.7 naira

1 NGN = 0.0188342 x 50

Thank you all

But two people said two different things

lol it depends...

if you apply for yuan for your business through your bank then it will be N49 naira not 52 Naira.

If you dont apply for yuan from the CBN and you send the yuan, your bank will first send dollar for the bank in china to convert to yuan then it will be 52.

Hope you understand.

Pls how do one buys with yuan feom nigeria?

blesson04:
But two people said two different things

I buy from China so I know what I am talking about. if you are buying something worth 50rmb, you multiply the amount in rmb times the naira equivalent which in your case is 52.7 though I haven't use that rate yet

Aquilazng:
Pls how do one buys with yuan feom nigeria?

previously there are agents who help pay to either a Chinese bank acct, wechat or alipay. the rates depends on the quantity of rmb you are buying. for now I haven't try the new CBN own but I know of the form own and my bank said something about form q or something like that am yet to get full details

Thank you all for your contribution

Contact me for all your China transactions, if you need to pay your supplier in China or want me to help you buy or ship from China, am presently in Guanzough china