Benin Currency

The Benin Currency decreased to 474.11 in April from 475.94 in March of 2014. Benin Currency averaged 493.93 from 2009 until 2014, reaching an all time high of 542.79 in July of 2012 and a record low of 436.52 in November of 2009. The USDXOF spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the XOF. While the USDXOF spot exchange rate is quoted and exchanged in the same day, the USDXOF forward rate is quoted today but for delivery and payment on a specific future date. This page provides - Benin Currency - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-19

Actual Previous Highest Lowest Forecast Dates Unit Frequency
474.11 475.94 542.79 436.52 482.41 | 2014/05 2009 - 2014 Daily

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Benin Currency
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Markets Last Previous Highest Lowest Forecast Unit
Currency 474.11 2014-04-17 475.94 542.79 436.52 482.41 2014-05-31 [+]
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Currency | Notes
An exchange rate is the current market price for which one currency can be exchanged for another. For instance, if the Euro exchange rate for the United States Dollar stands at 1.3, this means that 1 euro can be exchanged for 1.3 U.S. dollars. Because exchange rates play such an important role in a country's competiveness level, currency exchange rates are among the most analysed and forecasted indicators in the world. The exchange rate is determined by the level of supply and demand on the international markets. However, changes in foreign exchange market rates are often difficult to understand and to predict because the market is very large and volatile. In fact, the currency markets are the most liquid in the world with a daily turnover of close to $2 trillion, which compares to $500 billion for the US government bond market and $70 billion on the New York Stock Exchange.


RELATED NEWS

Benin Inflation Rate at -1.50 Percent  
The inflation rate in Benin was recorded at -1.50 percent in February of 2014. Inflation Rate in Benin is reported by the Central Bank of West African States (BCEAO).
Benin Balance of Trade at -326.66 CFA Franc Billion  
Benin recorded a trade deficit of 326.66 CFA Franc Billion in the fourth quarter of 2013. Balance of Trade in Benin is reported by the INSAE, Benin.
Benin Imports at 393.87 CFA Franc Billion  
Imports in Benin decreased to 393.87 CFA Franc Billion in the fourth quarter of 2013 from 730.90 CFA Franc Billion in the third quarter of 2013. Imports in Benin is reported by the INSAE, Benin.
Benin Exports at 67.20 CFA Franc Billion  
Exports in Benin increased to 67.20 CFA Franc Billion in the fourth quarter of 2014 from 63.57 CFA Franc Billion in the third quarter of 2014. Exports in Benin is reported by the INSAE, Benin.
Benin Current Account to GDP at -9.50 Percent  
Benin recorded a Current Account deficit of 9.50 percent of the country's Gross Domestic Product in 2012. Current Account to GDP in Benin is reported by the Central Bank of West African States (BCEAO).
Benin GDP Annual Growth Rate at 5.40 Percent  
The Gross Domestic Product (GDP) in Benin expanded 5.40 percent in 2012 from the previous year. GDP Annual Growth Rate in Benin is reported by the Central Bank of West African States (BCEAO).
Benin Sales Tax Rate at 18.00 Percent  
The Sales Tax Rate in Benin stands at 18 percent. Sales Tax Rate in Benin is reported by the Direction Générale des Impôts et des Domaines.
Benin Government Debt To GDP at 18.80 Percent  
Benin recorded a Government Debt to GDP of 18.80 percent of the countrys Gross Domestic Product in 2011. Government Debt To GDP in Benin is reported by the Central Bank of West African States.
Benin Interest Rate at 3.50 Percent  
The benchmark interest rate in Benin was last recorded at 3.50 percent. Interest Rate in Benin is reported by the Central Bank of West African States (BCEAO).
Benin Population at 10.05 Million  
The total population in Benin was last recorded at 10.1 million people in 2012 from 2.4 million in 1960, changing 315 percent during the last 50 years. Population in Benin is reported by the World Bank.
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At its April 17th, 2014 meeting, Central Bank of Chile left the benchmark interest rate on hold at 4 percent, following last month's cut, citing low output and demand, but hinted possible future rate cuts, depending on domestic and external conditions.
Russia Unemployment Drops in March  
Russian jobless rate fell for the first time in four months to 5.4 percent, after remaining stable at 5.6 percent in the previous two months.
Canada Inflation Rises Above Forecasts in March  
The annual consumer prices in Canada accelerated to 1.5 percent in March of 2014 following a 1.1 increase in the previous month, as energy prices surged.
US Jobless Claims Rise Slightly  
In the week ending April 12, the advance figure for seasonally adjusted initial claims was 304,000, an increase of 2,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 300,000 to 302,000. There were no special factors impacting this week's initial claims.
Brazil Unemployment Rate Down to 5%  
In March of 2014, Brazil’s jobless rate fell by 0.1 percentage point to 5 percent, below market forecasts. A year earlier, unemployment reached 5.7 percent.
Dutch Unemployment Rate Falls for the First Time in 2014  
In March of 2014, Netherlands’ seasonally adjusted jobless rate fell to 8.7 percent from 8.8 percent in the previous month and 8.1 percent a year earlier, as more people left permanently the labor market rather than found jobs.
Singaporean Trade Surplus Narrows Sharply in March  
The trade surplus decreased 51.1 percent in March of 2014 over a year earlier and 47.2 percent from February to SGD 2.3 billion. Imports rose at a faster pace than exports, as sales of pharmaceuticals and electronics fell, while shipments of petrochemicals and re-exports contributed to overall increase.
Mozambique Leaves Lending Rate Steady at 8.25%  
At its April 16th, 2014 meeting, Bank of Mozambique left its benchmark interest rate unchanged at 8.25 percent for the sixth consecutive meeting, saying this was consistent with meeting domestic economic targets for 2014.
Spanish Trade Deficit Narrows to 4-Month Low  
In February of 2014, Spanish trade gap decreased to € 1.62 billion, down from € 2.82 billion in the previous month. Compared with the same month a year earlier, the trade deficit widened 37 percent.
Angolan Inflation Rate Down To 7.32% in March  
The annual consumer prices in Angola decelerated for the second consecutive month to 7.32 percent in March of 2014, from 7.48 percent recorded in February of 2014.
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