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Reading: Today West African CFA Franc (XOF) to Naira (NGN) Black Market Exchange Rate – Feb 21, 2024
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Today West African CFA Franc (XOF) to Naira (NGN) Black Market Exchange Rate – Feb 21, 2024

Okay.ng
By Okay.ng
Published: February 21, 2024
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Are you interested in knowing the current exchange rate for the West African CFA Franc to Naira? Today, we’ll provide insights into both the selling and buying rates at the black market and the Central Bank of Nigeria (CBN).

Contents
West African CFA Franc (XOF) To Naira (NGN) Black Market Rate Today (February 21, 2024)Black Market Rate Exchange Table TodayWest African CFA Franc (XOF) To Naira CBN Rate

Understanding the dynamics of currency exchange, particularly the terms “selling” and “buying,” is crucial for navigating the market effectively.

West African CFA Franc (XOF) To Naira (NGN) Black Market Rate Today (February 21, 2024)

The West African CFA Franc, utilized by eight West African countries and six Central African countries, holds significance in international trade.

The abbreviation “CFA Franc” stands for “Franc of the Financial Community of Africa,” and it is adopted by a total of 14 countries, including Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal, Togo, Cameroon, Central African Republic, Chad, Equatorial Guinea, Gabon, and the Republic of Togo.

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At present, the buying rate stands at ₦2270, while the selling rate is ₦2320 in the black market.

Black Market Rate Exchange Table Today

Here’s a breakdown of the conversion from West African CFA Franc to Naira for common denominations:

Denomination in West African CFA Franc (XOF)Amount in Naira
1₦2270
10₦22,700
500₦1,135,000
1,000₦2,270,000

West African CFA Franc (XOF) To Naira CBN Rate

The CBN’s selling rate for the West African CFA Franc is ₦2.4329, while the buying rate is ₦2.4129.

Stay informed with Okay.ng for timely updates on currency exchange rates, empowering you to make informed decisions regarding your financial transactions.

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Dollar/Naira Rates

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Parallel Market Rates

USD
Buy₦1,540.00
Sell₦1,560.00
GBP
Buy₦2,148.00
Sell₦2,180.00
EUR
Buy₦1,740.00
Sell₦1,800.00

Updated: 15 hours ago

Displayed rates are for informational purposes only and are subject to change.

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Rates are for informational purposes only.

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