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Abokifx is one of the best websites to consult when looking for information about exchange rates of foreign currencies to the naira. It is a Nigerian website and focuses on enlightening the visitors about the current exchange rates of foreign currencies.

The exchange rate given on this website also tallies with what is obtainable in the black market. The rates provided on the platform correspond with what obtains across Nigeria.  Also, the website contains information about the foreign exchange market and you will find it helpful if you are involved in the financial market.

It is a well known fact that the exchange rates available for the naira are divided into two, which are:

Abokifx Black Market Exchange Rate & CBN Rate

The CBN rate is lower than the  market rate. The CBN rate is the rate adopted by all the banks registered with the Central Bank of Nigeria. Also, it is unfortunate that many Nigerians cannot access the CBN rate for these foreign currencies; many banks rarely want to exchange foreign currencies for the ordinary man on the street.

abokifx black market As a result, many Nigerians are forced to go for the black market rate when they want to buy or sell foreign currencies.  You can access reliable information about the foreign currencies on Abokifx.

Bear in mind that the exchange rates for these foreign currencies are never stable; they do change from time to time and the rate for yesterday may not be the same as the rate for today.

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This is why you need to visit the website on a daily basis to find out about the latest exchange rate.

If you are running a business that involves buying or selling of foreign currency, being aware of the latest rate helps you to know the right time or day to sell or buy the foreign currency. Such information can keep your business afloat and also ensure that you make a consistent profit.

Some facts about the naira

  • Nigeria started spending the naira in 1973 and this replaced the British pounds initially introduced by the colonial masters.
  • The naira was available in coins only at the initial stage. The first sets of coins to be introduced were ½ kobo coin, 1 kobo coin, 5 kobo coin, 10 kobo coin and 25 kobo coin.
  • The only organization authorized to manufacture and print the naira is the Central Bank of Nigeria.
  • Many of the naira denominations have the images of notable Nigerians engraved in them. Some of the notable Nigerians are Nnamdi Azikiwe, on the 500 naira note, Sir Tafawa Balewa on the % naira note, Chief Obafemi Awolowo on the 100 naira note and so on.
  • A new 100 naira note was printed by the regime of the former Nigerian president, Goodluck Ebele Jonathan. It was printed on the 12th of November, 2014 and it was done in commemoration of Nigeria’s 100 years of existence.
  • The naira had been re-issued up to five times already, which were in 1959, 1965, 1968, 1973 and 2007.

 

Why Abokifx is unique

First of all, the information on the platform is regularly updated. Consequently, you will always have access to reliable and current details about exchange rates for foreign currencies.

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What is more, there are times the foreign exchange updates take place more than once in a day; one can come in the morning, while the other one will come up in the afternoon.  The information provided on the platform goes in line with happenings at the Nigerian Stock Exchange.

Abokifx Website Reliability

One of the proofs of the reliability of the information provided on this platform is that many other websites that deal in foreign exchange and financial market copy the information provided on this website. In fact, many of the said financial organizations are well-known and with global recognition.

Furthermore, the website does not only give the current rate for that particular day; they also give the exchange rates for the future; if you visit their website, you will find exchange rates for about three days ahead.

Additionally, Abokifx does not just give you the black market rate of these foreign currencies; the platform equally provides information about the exchange rates for different banks as dictated by the CBN.

This way, you will be duly informed about the exchange rates in each of the banks before you ever visit any of the Nigerian banks for foreign exchange transactions.

Aside from exchange rates for the major foreign currencies like U.S. Dollars, Great Britain Pounds  and Euro, you can also find information about the foreign exchange rates for other currencies like AED (United Arab Emirate), ZAR (South Africa) and CAD (Canada) against the naira. They also provide foreign exchange rate information for currencies like XOF, XAF, GHS (Ghana) and CNY (China).

What is more, Abokifx gets you informed about the exchange rate for electronic payment platforms, like the Western Union, Moneygram and so on. If you need the update about CBN rates, you can also check them out on this platform.

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It does not end there; you can equally get ATM rates of foreign currencies on this platform, aside from the different bank rates they provided. The high and low rankings of each of the currencies are also provided on the platform for anyone in need of the information.

Abokifx Dollar & Pounds Exchange Rates

So, what are the current exchange rates for euro, pounds and dollars today on Abokifx? Continue reading to find out.

Exchange rate for United States dollars to naira

  • Buy at 359 naira and sell at 362 naira

Exchange rate for Great Britain Pounds to naira

  • Buy at 470 naira and sell at 475 naira

Exchange rate for Euro to naira

  • Buy at 410 naira and sell at 415 naira

Conclusion

Abokifx is one of the best websites to consult when looking for information about exchange rates of foreign currencies to the naira. It is a Nigerian website and focuses on enlightening the visitors about the current exchange rates of foreign currencies.

Do you have a particular amount of money in naira or other currencies and you want to convert it to another currency or the naira? You can use the foreign exchange converter on the platform. If you want to convert 10,000 naira to US dollars, for example, just type in the amount to be converted in the space provide and it will automatically convert it to the USD or any other foreign currency of your preference.

 

 

 

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