NawaFx has come to replace Aboki-Fx and probably Meffy-Fx as the new FX exchange advisory website for the British Pounds, Euro & Dollar to the Nigerian Naira.
On its website, NawaFx says it informs the exchange rate of the Naira to the 3 major currencies; Dollar, Pound, and Euro, after collating data from over 200 traders on various exchange platforms.
They also say that their exchange rates are updated in real-time, and not just once on a daily basis as seen in its predecessors.
“Data Source
Price data is collated from over 200+ traders on the various P2P exchange platforms. We’ve found these P2P platforms closely correlates with parallel market rates. This also means prices can be updated in realtime. In the future we will include data from verified BDCs in the country.”
Nawa-FX is coming at a time Nigerians grope in the dark, in search of the commonly exchanged “dollar to naira exchange rate in the black market,” a daily occurrence in Google trending searches.
The Naira exchange rate to the Dollar, Pounds, and Euro on Nawafx.com are represented in buying and selling rates under low, average, and high; representing the lowest, highest and average rates the currency was exchanged at any given time.
However, the website does not keep record of the currency’s previous exchange rates.
On the website today, the Dollar, Pounds & Euro exchange rate to the Naira was 537/552, 722/742, and 612/630 on average.
Aboki-FX, the first major FX exchange rate advisory website in Nigeria has since ceased disclosing FX rates after the CBN clamped down on it and its owner, accusing them of being the force behind the persistent depreciation of the Naira.
Meffy-Fx quickly sprang up as an alternative to Aboki FX, but the website has since been down for no known reason.
How long will Nawa-FX serve Nigerians?