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Monthly Average Exchange Rates of the Naira(Naira Per Unit of Foreign Currency) - 2012


  2012
Month January October November
DAS (USD) 158.38 157.31 157.31
IFEM (USD) 161.31 157.24 157.58
BDC (USD) 164.62 159.00 159.32
GB POUNDS 243.27 250.45 248.69
EURO 202.52 202.21 199.91
CFAFr 0.31 0.31 0.30
       
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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 : 1/7/1959
Evolution of Departments:At inception, the organisational structure of the CBN was understandably simple consisting of two departments, namely, the General Manager's and the Secretary's Departments, with the appropriate division of labour as then percieved. The General Manager's Department was responsible for all the Department banking, currency issues, debt management and other operational functions of the bank while the Secretary's Department handled the administrative and staff matters, carried out some research into the economic and financial conditions, and collected and analysed relevant statistics for policy formulation.
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