The Chinese Yuan to Naira Black Market Exchange Rate Today will be determined by the activities in the Chinese and Nigerian foreign exchange markets.
The Chinese Yuan is the official currency of the People’s Republic of China. The Nigerian Naira is the official currency of Nigeria.
The black market is an unofficial market where currencies are traded at rates that differ from the official exchange rate.
The Chinese Yuan to Naira Black Market Exchange Rate Today is affected by a number of factors, such as economic indicators, political stability, and global events.
The Chinese Yuan Currency
The Chinese yuan is the official currency of China. The yuan is also used in Hong Kong, Macau, and Taiwan. It is divided into 10 jiao or 100 fen.
The yuan is sometimes referred to as the “renminbi” or “people’s currency.”
The Chinese yuan has a long history, dating back to the 11th century. It was first introduced as a unit of account in the Ming Dynasty.
In the 19th century, the yuan was officially made the currency of China. The yuan was pegged to the US dollar from 1995 to 2005. In 2008, the yuan was de-pegged from the dollar and allowed to float against a basket of currencies.
The yuan is issued by the People’s Bank of China, the central bank of China. The yuan is not freely convertible into other currencies.
The Nigerian Currency
Nigeria’s currency is the naira (NGN). The naira is divided into 100 kobo. There are 1 naira, 5 naira, and 10 naira, and notes of 50 naira, 100 naira, 200 naira, 500 naira, 1000 naira notes.
The Central Bank of Nigeria is the sole issuer of legal tender money throughout the Federation. The Central Bank of Nigeria has the sole authority to mint coins and print banknotes for circulation.
Chinese Yuan to Naira Official and Black Market Exchange Rate Today
Yuan to Naira Black Market Rate
Buying @ 1 Yuan = 90.00 Naira
Selling @ 1 Yuan = 97.00 Naira
Naira to Yuan Black Market Rate
Buying @ 1 Naira = 0.011 Yuan
Selling @ 1 Naira = 0.010 Yuan
Yuan to Naira CBN Official Rate
Buying @ 1 Yuan = 63.717233 Naira
Selling @ 1 Yuan 63.817233 Naira
Naira to Yuan CBN Official Rate
Buying @ 1 Naira = 0.015694341 Yuan
Selling @ 1 Naira = 0.016 Yuan
Factors affecting the exchange rate of the Chinese Yuan to Naira
The exchange rate between the two currencies can be affected by a number of different economic and political factors, including the strength of the Chinese economy, the relative value of the two currencies, and even geopolitics.
In terms of economic factors, the Chinese economy is typically seen as the most influential on the exchange rate between the Yuan and the Naira.
China’s economy is currently one of the world’s largest and most rapidly growing, making it a major influence in global markets.
The performance of the Chinese economy has an effect on the value of its currency and in turn affects how much money can be exchanged for a Naira.
The relative value of the two currencies is another factor that affects the exchange rate between them.
If one currency is stronger than the other, then more money can be exchanged for a single unit of the weaker currency.
For example, if the Naira is stronger than the Yuan, then more money can be exchanged for a single Naira than for a single Yuan.
Finally, geopolitical factors can also affect the exchange rate between the two currencies. Political instability in either country, or in the region as a whole, can have an impact on investor confidence and cause fluctuations in the exchange rate.
Also, international trade agreements and sanctions can have an impact on the exchange rate.
By understanding these various factors, traders and investors can better understand how to anticipate changes in the Chinese Yuan to Naira exchange rate and make informed decisions about when to buy and sell their currency.
Countries That Use Chinese Yuan
Since the early 21st century, the Chinese yuan has been increasingly used as a foreign currency.
Here are some of the countries that use the Chinese yuan as their primary or secondary currency.
– Hong Kong
How to get the best Chinese Yuan to Naira exchange rate
To get the best exchange rate when trading Chinese Yuan to Naira, there are several key tips you should consider.
First, it’s important to understand the current Chinese Yuan to Naira exchange rate. The exchange rate can fluctuate widely, so it’s important to stay up-to-date with the current market rates.
You can use online resources to track the latest exchange rates for Chinese Yuan to Naira.
Next, find a reputable black market trader. Black market traders have access to the most competitive exchange rates, but it’s important to do your research before choosing a trader.
Look for reviews of the trader or ask people in the area for recommendations. You should also be aware of any possible scams that may be associated with certain traders.
Finally, it’s important to consider the amount of Chinese Yuan and Naira you will be exchanging.
Depending on the amount, you may be able to negotiate a better exchange rate than what is publicly available.
It’s also important to know if there are any fees associated with exchanging currency at the black market rate.
Chinese Yuan to Naira Official and Black Market Exchange Rate FAQS
How much is yuan as at today?
Today’s Yuan to Nigerian Naira exchange rate is 1 CNY = 63.717233 NGN.
How much does a yuan cost in naira?
The current exchange rate for Yuan to Nigerian Naira is 63.5585 NGN for 1 CNY.
What is black market currency exchange?
Black market exchange rates are currency conversions that are not based on the official exchange rate that has been established by a government. These rates on the black market are frequently observed when the official rate has just a passing resemblance to the actual conditions of the market.
At the time of writing, the Chinese Yuan to Naira black market exchange rate is relatively unstable, but it is important to keep an eye on the market and be aware of changes. If you have any questions or comments, please leave a comment below.