NGN to XOF - Convert Nigerian Naira to CFA Franc BCEAO

Convert NGN to XOF using our currency converter with real exchange rate today

1 NGN = 0.411 XOF

1 XOF = 2.433 NGN

(Mid-market exchange rate)

Last updated May 18, 2024 10:13 GMT

NGN to XOF conversion chart

Below is the live and historical Nigerian Naira to CFA Franc BCEAO rate chart so you can see today's rate - and how the rates have changed over time.

1 NGN = 0.411 XOF

1,000 Nigerian Naira to CFA Franc BCEAO stats | NGN to XOF

Stat Last 7 days Last 30 days Last 90 days Last year Selected period on chart
High 0.427 0.572 0.541 1.374 0.572
Low 0.394 0.394 0.371 0.371 0.394
Average 0.406 0.458 0.435 0.714 0.458
Volatility 8.38% 45.18% 45.82% 270.35% 45.18%

What is the Nigerian Naira worth against the CFA Franc BCEAO today?

1 NGN is worth 0.411 XOF today

How much is 1,000 NGN worth in XOF?

At the current exchange rate of 0.411 , a sum of 1,000 Nigerian Naira is worth 411 CFA Franc BCEAO.

Which currency is stronger? NGN or XOF?

The CFA Franc BCEAO is currently stronger than the Nigerian Naira given that 1 XOF is equal to 2.433 NGN. Conversely, 1 NGN is worth 0.411 XOF.

Overview of NGN to XOF Performance and Trends

Today, to buy 1,000 Nigerian Naira, you need 411 CFA Franc BCEAO. On the same date last year, you needed 1,316 CFA Franc BCEAO for 1,000 Nigerian Naira. This change indicates that the Nigerian Naira has lost value against the CFA Franc BCEAO by 69.3% over the past year.

The pair experienced high volatility of 270.35%.

High volatility means there is a higher risk of significant price changes. It is better to closely monitor the exchange rate in such situations.

NGN to XOF Currency Performance and Volatility

Last 7 Days

  • Performance: ₦1,000 varied between CFA0.394 (weekly low) and CFA0.427 (weekly high), a variance of CFA0.033 .
  • Volatility: Fluctuated by 8.38%.

Last 30 Days

  • Performance: ₦1,000 varied between CFA0.394 (30-day low) to CFA0.572 (30-day high), a variance of CFA0.178 .
  • Volatility: Fluctuated by 45.18%.

Last 90 Days

  • Performance: ₦1,000 varied between CFA0.371 (90-day low) to CFA0.541 (90-day high), a variance of CFA0.17 .
  • Volatility: Fluctuated by 45.82%.

Last Year

  • Performance: ₦1,000 ranged from CFA0.371 (yearly low) to CFA1.374 (yearly high), a variance of CFA1.003 .
  • Volatility: Fluctuated by 270.35%.

NGN to XOF Forecast and trending

Is the Nigerian Naira going up or down against the CFA Franc BCEAO?

Today's NGN to XOF exchange rate (0.411) is higher compared to yesterday's rate (0.396).

Currency information

NGN - Nigerian Naira

The currency code for Nigerian Naira is NGN.

The NGN currency symbol is ₦.

Minor unit: 1/100 = Kobo

NGN rank by most traded currencies: Not in top 40 traded currencies

Avg proportion of daily world trade volume: 0% (Low daily trade currency)

NGN rank by strongest currencies (buying power): 121

The Nigerian Naira is the currency of 1 countries:
Nigeria

More Nigerian Naira (NGN) information >

XOF - CFA Franc BCEAO

The currency code for CFA Franc BCEAO is XOF.

The XOF currency symbol is CFA.

Minor unit: 1/100 = Centime

XOF rank by most traded currencies: Not in top 40 traded currencies

Avg proportion of daily world trade volume: 0% (Low daily trade currency)

XOF rank by strongest currencies (buying power): 119

The CFA Franc BCEAO is the currency of 8 countries:
Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal, Togo

Understanding NGN to XOF Currency Exchange: Our Top Tips

Let's look at some practical information, ideas and tips to help you make sure you can get the most from your money when you convert Nigerian Naira to CFA Franc BCEAO, to send a payment, for a trip overseas, when shopping online or to hold a balance in CFA Franc BCEAO.

How to convert NGN to XOF?

You can convert Nigerian Naira to CFA Franc BCEAO either in a physical location or online. If you choose to exchange money at a currency exchange store, bank or at the airport, you'll be given your CFA Franc BCEAO in cash. Or, you can choose to convert digitally, to send a payment overseas for example.

If you're exchanging money in a physical location you'll usually need to take the following steps:

  • Choose an exchange service that suits your needs
  • Head there with the money in Nigerian Naira cash to exchange
  • Get a quote for the exchange rate and any commission or fee you need to pay
  • Hand over your money and receive your CFA Franc BCEAO in cash

Exchanging your money digitally is often easier. As an example, here's how to send a payment overseas:

  • Choose an international payment service that suits your needs and head to their desktop site, or download their app
  • Tap Send Payment
  • Enter the amount in Nigerian Naira you want to send, or the amount in CFA Franc BCEAO you want your recipient to get in the end
  • You'll be shown a quote for the exchange rate and any commission or fee you need to pay
  • Choose your preferred payment method, and follow the prompts to pay
  • Your money will be deposited to your recipient's bank account directly, in CFA Franc BCEAO

How to get the best NGN to XOF exchange rate?

Because banks, currency exchange offices and international payment services all set their own exchange rates, you'll need to shop around a little to find the best NGN to XOF exchange rate for your specific transaction.

Get to know the NGN/XOF mid-market exchange rate using reputable currency conversion tools, so you'll be able to see how the market is trending. You can often set up rate alerts so the service you choose will send you a message when the NGN/XOF mid-market exchange rate hits your preferred level. Once you see a rate you like, act fast to complete your transaction before markets move again.

Another smart option is to open a multi-currency account which lets you hold a selection of major world currencies, often including Nigerian Naira and CFA Franc BCEAO. This can be helpful if you transact internationally often, live overseas, receive payments from abroad, invest in diverse markets or even if you simply love to shop online with international retailers. Because you can hold a balance in the currency or currencies of your choice, there's no need to convert from one currency to another unnecessarily - you can wait until exchange rates are favorable to avoid losing out.

How to buy Nigerian Naira with CFA Franc BCEAO?

You'll be able to exchange CFA Franc BCEAO to Nigerian Naira in the same way as you'd exchange Nigerian Naira to CFA Franc BCEAO. If you have CFA Franc BCEAO in your pocket in cash, you can take them along to a currency exchange service and ask if they'll buy back in exchange for CFA Franc BCEAO. Be aware that the exchange rate might not be great - so coming back from a trip with as little foreign cash as possible is a smart plan.

On the other hand, if you hold Nigerian Naira in a bank or specialist provider account, you'll be able to take advantage of online currency exchange services which can often offer fast, efficient and good value conversion which uses a better rate than a bank would.

Where to exchange NGN to XOF?

You can exchange currencies in person at a currency exchange store, bank or airport, or use an online service instead. It's helpful to know that in person currency exchange options can offer a pretty poor deal overall, as exchange rates commonly include a markup - an extra fee. If you're exchanging somewhere with little local competition - like at an airport or hotel, for example - the chances are that the rate you get will be even worse.

A good alternative is to open a multi-currency account which lets you hold and exchange currencies digitally - and if you pick an account which also offers a linked debit card, you can make ATM withdrawals at home and abroad whenever you need cash. Digital specialist services can often offer a better exchange rate with lower overall costs compared to using your bank or exchanging cash in person - plus they're intuitive to use and let you manage your money with just your phone.

Frequently asked questions when converting Nigerian Naira to CFA Franc BCEAO (NGN to XOF)

How much is the Nigerian Naira to CFA Franc BCEAO?

The Nigerian Naira to CFA Franc BCEAO exchange rate today is 0.411 . Use this guide to learn more about exchanging NGN to XOF in the easiest and best value way for your specific needs.

How much is 1,000 Nigerian Naira to the CFA Franc BCEAO?

The NGN to XOF rate today is 0.411 . That means that 1,000 Nigerian Naira would be worth 411 CFA Franc BCEAO.

How to exchange Nigerian Naira to CFA Franc BCEAO?

Exchange NGN to XOF in person at a bank, currency exchange store or airport - or for a better exchange rate and to avoid standing in line in a physical store, use a digital service. Online currency exchange services are safe, intuitive and easy to use, to send payments internationally, or hold and exchange multiple currencies including NGN to XOF.

How to send money to Benin?

If you want to send money from Nigeria - or anywhere else in the world - to Benin, you'll be able to do so through your bank or an online specialist service like Wise. Specialist international money transfer services can often offer better exchange rates and lower overall costs for payments to Benin - plus, you'll be able to get everything arranged with just your laptop or phone.

What is the Mid-Market Rate?

The mid-market exchange rate is the rate that banks and currency exchange services get when they buy and sell currencies like CFA Franc BCEAO and Nigerian Naira on wholesale markets. It's an important benchmark you can use to measure whether the exchange rate you're offered by a bank or exchange service is fair.

Usually banks and exchange services add a percentage margin - known as a markup - to the exchange rate they get themselves. But this markup can vary a lot, and in some cases pushes up the cost of currency exchange significantly. Learning about the mid-market rate and monitoring it can mean you get a better deal when you exchange currencies.

Get the live Nigerian Naira to CFA Franc BCEAO exchange rate with our handy tools, to help you compare your options.

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