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Exchange rates (free market rates) for the Deutsche Mark in Nigeria * / DEM 1 = NGN ... (selling) / up to the end of 1998

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  1. Exchange rates, euro foreign exchange reference rates, gold prices
  2. Exchange rates in individual countries
  3. End of month
  4. DEM Deutsche Mark (historical)
  5. NGN Naira (Nigeria)
CSV SDMX-ML 2.0 SDMX-ML 2.1
Time series key BBEX3.M.NGN.DEM.CA.AB.A01
Unit NGN
Dimension one
Timespan from 1995-02 to 1998-12
Last update 20.09.2023 02:46:25 PM
   
General * On 14 January 1995, the introduction of a legal free foreign exchange market was announced. Use of exchange rates from 14 January 1995 until the end of 1998: Official exchange rate (BBEX3:M:NGN:DEM:CA:AB:B01): for certain government transactions. Free market rate: for all other foreign exchange transactions. On 1 January 1999, the multiple exchange rate system was unified on the basis of the free market rate. Listed against the euro as of January 1999, see BBEX3:M:NGN:EUR:CA:AB:A01.
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.
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