Time series key
|
BBEX3.M.NGN.DEM.CA.AC.A01 |
Unit
|
NGN |
Dimension
|
one |
Timespan
|
from
1995-02 to
1998-12 |
Last update
|
20.09.2023 02:46:25 PM |
|
|
Methodology
|
Calculated on the basis of buying and selling rates. |
Source
|
Central Bank of Nigeria, Lagos / Abuja. |
|
|
Comment on
1995-02 |
On 14 January 1995, the introduction of a legal free foreign exchange market was announced; however, the central bank only began to report exchange rates (buying/selling) on 23 February 1995: official exchange rate: DEM 1 = NGN 14.7643 / 14.9125, free market rate: DEM 1 = NGN 55.04 / 55.59. |