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When the naira was introduced, it had an official exchange rate of US$1.52 for ₦1, though a currency black market existed in which the naira traded at a discount relative to the official exchange rate. The official exchange rate set by the Central Bank of Nigeria: naira to U.S. dollar is approximately ₦767.54 per 1 US dollar.
The US dollar exchange rate is an estimated average of the official rate throughout a year and does not reflect the parallel market rate at which the general population accesses foreign exchange. This rate ranged from a high of 520 in March 2017 to a low of 350 in August 2017, due to a scarcity of forex (oil earnings had dropped by half), and ...
SOR reflects the cost of borrowing SGD synthetically by borrowing USD and subsequently "swapping" to SGD by using an FX Swap. It is an alternative to Singapore Interbank Offered Rate (SIBOR) which is a measure of the interbank money market rates. [1] As of December 2018, SOR is measured and published periods of overnight, 1 month, 3 month, and ...
This is a list of circulating fixed exchange rate currencies, ... Singapore dollar: 1 Bulgarian lev: Euro: 1.95583 Cape Verdean escudo: Euro: 110.265 Caribbean guilder:
In many countries there is a distinction between the official exchange rate for permitted transactions within the country, and a parallel exchange rate (or black market, grey, unregulated, unofficial, etc. exchange rate) that responds to excess demand for foreign currency at the official exchange rate.
A black market in Shinbashi in 1946 Illegal street traders in Barcelona in 2015. A black market, underground economy, shadow market or shadow economy is a clandestine market or series of transactions that has some aspect of illegality or is not compliant with an institutional set of rules. If the rule defines the set of goods and services whose ...
The floor of the Chicago Board of Trade, a major commodities exchange in the United States. A commodities exchange is an exchange , or market, where various commodities are traded. Most commodity markets around the world trade in agricultural products and other raw materials (like wheat , barley , sugar , maize , cotton , cocoa , coffee , milk ...
From 1985 onwards, Singapore adopted a more market-oriented exchange regime, classified as a Monitoring Band, in which the Singapore dollar is allowed to float (within an undisclosed bandwidth of a central parity) but closely monitored by the Monetary Authority of Singapore (MAS) against a concealed basket of currencies of Singapore's major ...