Market Prospects for Groundnut in West Africa COMMON FUND ...

Table 8. Regional trade implications: Conversions from Naira to Francs CFA.
Official rate of exchange NGN fCFA
(1 NGN = fCFA)
January 6.64478 50.6 336
February 6.51265 65.26 425
March 6.58105 73.7 485
April 6.54534 82.5 540
May 6.46675 74.8 484
June 6.08639 82.5 502
July 5.61795 103.18 580
August 5.31989 96.8 515
September 5.30174 65.27 346
October 5.36387 62.33 334
November 5.27338 65.63 346
December 5.07839 65.45 332
January 4.95308 - -
February 4.79496 39.25 188
March 4.84814 74.8 363
April 4.76005 77 367
May 4.51303 81.58 368
June 4.26804 105.23 449
July 4.61345 101 466
August 4.67757 104.5 489
September 4.50353 68.2 307
October 4.32417 73.48 318
November 4.12404 91.3 377
December 3.88865 99 385
*Official exchange rates (as at mid-month) from ‘www.oanda.com’.
between the different markets surveyed. A -1.5% fall was evident in Igolo,
while the rate fell by 8.8 in Konni and 9.7% at Gaya – more than twice as
severe a drop as the official figures would indicate.
The complexity of the situation on the ground and the challenge of
accurately documenting these regional trade indicators for analysis is
illustrated by the fact that during the same period, the Naira actually
appreciated by 0.7% in Ndjamena, with an average level of fCFA 5 when
selling and fCFA 5.7 when buying.
As the Government of Niger records trade in groundnut products as far
east as Diffa (just across Lake Chad from Ndjamena, there are certainly
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