With the increased rate of importation of goods from China to Nigeria, many Nigerians are now eager to know the exchange rate between the Chinese Yuan and the Nigerian naira. In this article, I will be revealing to you the current yuan to naira exchange rate in black market, and that of the Central Bank of Nigeria (CBN). Also, note that I will be updating the rates immediately if there is any change. This is the reason why you should always check this page if you want to get the current yuan to naira exchange rate.
Before you proceed to check the yuan to naira exchange rate today, you should note that there is always a difference between that of CBN and the black market. Simply put, the CBN’s rate, or the official rate, is always lesser than that of black market traders. The sad part is that having access to the CBN official rate is always difficult. So, you are left with no choice but to trade with the black market traders.. You can also check the Dollar to Naira Exchange Rate in Black Market in one of my previous post.
How to Buy Chinese Yuan in Nigeria
If you want to know how, or where to buy Chinese Yuan in Nigeria, I think I have already given the answer in my above statement. You can buy Yuan from banks in Nigeria or black market traders located in most parts of Nigeria. But you should remember that the exchange rates will not be the same, as I have explained earlier. Another option of buying Yuan is through agents who resided in China, but the sad part is that their rates are always on the higher side.Yuan to naira bank rate todayIf you want to know how, or where to buy Chinese Yuan in Nigeria, I think I have already given the answer in my above statement. You can buy Yuan from banks in Nigeria or black market traders located in most parts of Nigeria. But you should remember that the exchange rates will not be the same, as I have explained earlier. Another option of buying Yuan is through agents who resided in China, but the sad part is that their rates are always on the higher side.
Yuan to Naira Exchange Rate in CBN
The official rate of yuan to naira in CBN is CNY 1 = NGN 66
Yuan to Naira Exchange Rate in Black Market Today
The yuan to naira exchange rate in black market today is as follows:
Buying: CNY 1 at NGN 106
Selling: CNY 1 at NGN 107
The buying rate is the rate at which the black market trader will buy yuan from you, while the selling rate is that which he will sell yuan to you. So, do not be confused with the two figures.
Conclusion
Are you into mini importation or you are importing goods from China on a large scale, then you need to know the current yuan to naira exchange rate in black market. Like I said from the start, I always update this page with the latest rates. This is a major reason you should bookmark this page on your web browser, or always check the forex section of this blog for the latest exchange rates of foreign currencies to the Nigerian naira.
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