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Monthly Average Exchange Rates of the Naira(Naira Per Unit of Foreign Currency) - 2015


  2015
Month January October November
DAS (USD) 169.68
IFEM (USD) 181.78 196.99 196.99
BDC (USD) 196.13 224.83 232.40
GB POUNDS 254.39 302.26 299.38
EURO 194.85 221.45 211.53
CFAFr 0.30 0.34 0.32
       
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Export to Excel Monthly Average Exchange Rates of the Naira
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 : 1/16/2006
The Cowry:The Cowry has, for centuries, served our people as an important form of currency. In 1860 the following system was in use: 40 Cowries formed a "String"; 50 Strings made a "head" and 10 heads comprised a "bag". In Lagos in 1865 one bag of 20,000 shells was exchanged for one or two English Pounds.
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