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How Much Is Cefa To Naira Exchange Rate Today Black Market - Business - Nairaland

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How Much Is Cefa To Naira Exchange Rate Today Black Market by Drealtalker: 10:44pm On Oct 30, 2018
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 }
Official Rate Of The CEFA To Naira Exchange Rate Today


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.
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.


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