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Monthly Average Exchange Rates of the Naira(Naira Per Unit of Foreign Currency) - 2016


  2016
Month May June July
DAS (USD)
IFEM (USD) 197.00 231.76 294.57
BDC (USD) 336.93 351.82 364.47
GB POUNDS 286.33 328.53 388.37
EURO 222.85 260.03 325.90
CFAFr 0.34 0.38 0.49
       
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DAS/WDAS = Dutch Auction System/Wholesale Dutch Auction System, IFEM is Inter-bank Foreign Exchange Market, BDC is Bureau de Change

* DAS/WDAS exchange rate from August 2005, include 1 per cent commission

*Exchange rate for February 2015 was as at February 18th when the retail DAS segment of the FOREX market was closed.
Facts : 1/1/1976
London Club of Creditors:These are mainly uninsured and unguaranteed debts extended by commercial banks to nationals of debtor nations. Members of the club are commercial banks mainly in industrialized countries. The first London club meeting was held in 1976 to discuss re-payment and conclude re-structuring agreements.
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