Currency of Nigeria: Nigerian naira, today's rate ₦
The Nigerian Naira is the currency of Nigeria. The code of Nigerian naira is NGN. We use ₦ as symbol of Nigerian naira. The Nigerian Naira is divided in 100 kobo. NGN is regulated by Central Bank of Nigeria.
Did you know:
- The most popular conversions of Nigerian naira are
- the Nigerian naira was introduced in 1 Jan 1973 (48 years ago).
- There are 3 coins for the Nigerian naira ( ₦0.5 , ₦1 and ₦2 ),
- the Nigerian naira has 9 banknotes ( ₦ , ₦5 , ₦10 , ₦20 , ₦50 , ₦100 , ₦200 , ₦500 and ₦1000 )
More information: currency converter.
The Naira of Nigeria
The Naira was a major international exchange currency during the 1970's even attaining a rate of exchange of 2 Nairas to the US Dollar at the time of its first issue in 1973 in place of the Pound. Nowadays, after serious monetary devaluation, 1 US Dollar is equivalent to over 160 Nairas.
The Naira is subdivided into 100 Kobos. Few of the latter are currently in circulation due to the devaluation of the Nigerian currency. The only coins in current circulation are of 50 Kobos, and 1 et 2 Nairas.
Where banknotes are concerned, in the 1990's banknotes ceased to exist, except for the 5,10 and 20 Naira notes. But, by contrast with the fate of the coins although still due to the growing inflation, 50, 100, 200, 500 and even 1,000 Naira banknotes have been introduced in the years 2000.
The 1 Naira banknote carries the image of a mask on its reverse side. The sculpting of masks is a major art form in Africa. The shapes, sizes and materials are many and varied. When they represent animals, they are supposed to bring their characteristic qualities to the bearer. When they are in the form of human faces, they tend to be those of sorcerers, who mediate between the divine and human dimensions. Nigerian traditions and customs are also presented on the 5 Naira bill with the ritual dances of the Nkpokiti troupe.
|Nigerian naira to Indian rupee||1 NGN = 0.1846 INR|
|Nigerian naira to West African CFA franc||1 NGN = 1.3702 XOF|
|Nigerian naira to Bitcoin||1 NGN = 0.0000 BTC|
|Nigerian naira to Indonesian rupiah||1 NGN = 35.5383 IDR|
|Nigerian naira to Central African CFA franc||1 NGN = 1.3702 XAF|
|Nigerian naira to Congolese franc||1 NGN = 5.0025 CDF|
|Nigerian naira to Lebanese pound||1 NGN = 3.8303 LBP|
|Nigerian naira to Zambian kwacha||1 NGN = 0.0540 ZMW|
|Nigerian naira to Guinean franc||1 NGN = 26.0030 GNF|
|Nigerian naira to Sierra Leonean leone||1 NGN = 25.7271 SLL|
|Nigerian naira to euro||1 NGN = 0.0021 EUR|
|Nigerian naira to Tanzanian shilling||1 NGN = 5.8746 TZS|
|Nigerian naira to South Sudanese pound||1 NGN = 0.3288 SSP|
|Nigerian naira to Pakistani rupee||1 NGN = 0.4067 PKR|
|Nigerian naira to UAE dirham||1 NGN = 0.0093 AED|
|Nigerian naira to Saudi riyal||1 NGN = 0.0095 SAR|