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The Black-Market exchange rate of the naira to the U.S. dollar is approximately ₦752.50 per 1 US dollar. [ 69 ] According to a recent report by Naija News , the parallel market exchange rate of the naira to the U.S. dollar is around ₦1483 per 1 USD, significantly higher than the official Central Bank of Nigeria rate.
In 2016, the black-market exchange rate of the Naira was about 60% above the official rate. The central bank releases about $200 million each week at the official exchange rate. However, some companies cite that budgets now include a 30% "premium" to be paid to central bank officials to get dollars. [156]
Also, in many African currencies there have been episodes of rampant inflation, resulting in the need for currency revaluation (e.g. the Zimbabwe dollar). In some places there is a thriving street trade by unlicensed street traders in US dollars or other stable currencies, which are seen as a hedge against local inflation. The exchange rate is ...
In 1992, a new series of coins was introduced consisting of ⁄, ⁄, 1, 2, 5, 10, 20, 50 and 100 dinars. A 200 dinar bi-metallic coin was issued in 2012 to commemorate Algeria's 50th anniversary of independence. [citation needed] The 10, 20, 50, 100, and 200 dinar coins are bimetallic. Coins in general circulation are 5 dinars and higher.
Drugs and weapons abound on the black market -- but one commonplace household item is also traded like a commodity. ... The Today Show. Wisconsin 12-year-old saves his dad's life during bear attack.
For example, the purchasing power of the US dollar relative to that of the euro is the dollar price of a euro (dollars per euro) times the euro price of one unit of the market basket (euros/goods unit) divided by the dollar price of the market basket (dollars per goods unit), and hence is dimensionless. This is the exchange rate (expressed as ...
September 17, 2024 at 7:45 PM. The FBI and Postal Service are investigating suspicious mail containing a white powder substance that was sent to election offices in at least 16 states this week ...
The nakfa (ISO 4217 code: ERN; Tigrinya: ናቕፋ naḳfa, or Arabic: ناكفا or نقفة nākfā) is the currency of Eritrea and was introduced on 15 November 1997 to replace the Ethiopian birr at par. The currency takes its name from the Eritrean town of Nakfa, site of the first major victory of the Eritrean War of Independence.