February 17, 2018

AbokiFX.com: Naira Foreign Exchange Rate Today


AbokiFX.com or Aboki Foreign Exchange is a Naira to major foreign currencies exchange rate live webcaster. AbokiFX is an highly rated Naira exchange trendster and provider.

The AbokiFX.com platform allows you to check how much you should get when you convert your currency into another at the moment. AbokiFX shows you the true mid-market exchange rate, also known as the REAL rate. It's the rate you will find on Google, XE and Yahoo, so its completely independent of banks or currency exchange providers. Which means no hidden charges.

AbokiFX.com also provides daily bank ATM rates, Market FX news, Aboki street news, CBN Rates, Lagos BDC rates, Moneygram and Western Union rates.

What's is RER?

The real exchange rate (RER) is the purchasing power of a currency relative to another at current exchange rates and prices. It is the ratio of the number of units of a given country's currency necessary to buy a market basket of goods in the other country, after acquiring the other country's currency in the foreign exchange market, to the number of units of the given country's currency that would be necessary to buy that market basket directly in the given country. There are various ways to measure RER anyway.


AbokiFX Services

AbokiFX are currency specialists in Nigeria, where they work and deliver computer trading systems and algorithms for exchange rates.

AbokiFX.com collect and organize currency trading data.

Trading in foreign exchange (FOREX) is big, and occurs in many locations round the world.

You can now access this trading data, in more and more locations, with less and less delay.

AbokiFX.com simultaneously measure:

  1. the exchange rate which banks give their clients,
  2. the exchange rate banks buy said currency,
  3. the difference is the bank's currency exchange markup

AbokiFX comparison tool shows the currency exchange markup by different banks and currency brokers.

AbokiFX provide tools, peer comparisons and information to inform users around about the latest development.

AbokiFX.com virtually provides hint on when to exchange your currency; is the rate going up or down, with easy to use trend tools

AbokiFX are unbiased and independent; not linked to any bank, currency broker, or money transfer organization.

Facts about exchange rates

  • Banks resell currency exchange to clients, and add a markup.
  • Banks can exchange currency at perfect exchange rates. Almost no trading markups, no trading spreads.
  • Bank currency exchange department is a huge generator of profit.
  • The higher the markup, the higher the profit for the bank
  • Banks make their profits from buyside clients - clients whose business is not currency trading Banks never disclose their markup
  • A perfect exchange market has the same buy and sell price. No exchange markup , nor spread.
  • The interbank market is closest to a perfect market for currency exchange.
  • The interbank exchange rate is the reference for a fair exchange rate.
  • Crypto currencies open buy/sell access to all players. A crypto currency becomes universal or world local currency.
  • Cryto currency exchanges, like bitcoin exchanges, must still conform with Financial Authorities to avoid money-laundering, terrorism and other illegal activities.
  • Be that as it may, AbokiFX gives opportunity to get latest updates on currencies from local and global news agencies as well as charts mapping trends in the foreign exchange market over long time periods.

    AbokiFX.com therefore provides you with daily naira FX rates against the USD (dollars), (GBP) pound sterling, (EUR) Euro and other currencies such (GHS) Ghana Cedis, XAF and XOF Benin and Cameroon Francs.