1 NGN = 0.0175829 CNY. 0.194830 INR. NGN Exchange Rates ; Central Bank of Nigeria; Historical Exchange Rates For United Arab Emirates … Directory of best currency transfer providers, compare to exchange rates when sending money from Nigeria Currently, the amount of foreign currency is regulated through weekly auctions, while the Central Bank sets the exchange rate. Send a cheap Money Transfer to New Zealand, Get a NGN currency data API for my business. The gap between Nigeria’s official exchange rate and the black-market level narrowed to the least in three weeks after the central bank introduced a measure to increase the supply of dollars to licensed money changers. Nigeria currency (NGN). Nigeria’s central bank directed banks to pay dollars to the beneficiaries of remittances from abroad via international money-transfer operators to boost supply of the U.S. currency. About Nigeria Naira (NGN) The Nigeria Naira (Sign: ₦; ISO 4217 Alphabetic Code: NGN; ISO 4217 Numeric Code: 566;) There are 2 minor units.The coins are ½, 1, 5, 10, 25, 50 kobo, 1 & 2 naira, while the bank notes are 5, 10, 20, 50, 100, 200, 500 & 1000 naira. Our emerging market currency spotlight this week will be the naira, which is currently trading around N462 per dollar on the parallel markets and N380 on the official exchange. Our currency rankings show that the most popular Nigeria Naira exchange rate is the USD to NGN rate . It is subdivided into 100 kobo. You can also subscribe to our currency newsletters with daily rates and analysis, read the XE Currency Blog, Nigeria, Naira. XE Currency Converter: 1 EUR to NGN = 461.121 Nigerian Nairas. January 2020, makes it 47 years since the Naira became Nigeria’s official currency. All figures are live mid-market rates, which are not available to consumers and are for informational purposes only. In the first story of our series on the impact of COVID-19 on Nigeria, we look how its economy considers strategies to reduce the naira’s dependence on volatile oil prices. Although it has been on a steady fall against the US dollar and other foreign currencies in recent times, it had a bright beginning, exchanging for N1 to 99 cents and 68 Pence in the 1970s to early 80s. And that is where this post is starting from. The naira has strengthened by 6% to 470 per dollar in the parallel market since Monday, according to abokifx.com, while the spot rate weakened 0.6% to 391.90. Before it's here, it's on the Bloomberg Terminal. Nigerian Naira to Indian Rupee Conversion. 1 EUR = 461.121 NGN. The symbol for NGN can be written N. The Euro is divided into 100 cents. It should be a common knowledge that the currency of Nigeria is the naira. It manages the amount of currency in circulation to ensure its stability and value. Nigeria's black-market naira level is moving closer to the official exchange rate. With the current rate, naira has lost N140 year-on-year when compared with N360 it stood in November 2019 … The exchange rate for the Euro was last updated on December 10, 2020 from The International Monetary Fund. The difference between the two rates fell to 24% on Thursday from as much as 32% after the regulator’s announcement on Nov. 30 that it would allow beneficiaries of remittances to be paid in dollars. Euro to Nigerian Naira Conversion. The Nigerian Naira is the currency of Nigeria. The currency code for Nairas is NGN, and the currency symbol is ₦. NGN Nigerian Naira Country Nigeria Region Africa Sub-Unit 1 Naira = 100 kobo Symbol ₦ The naira is the currency of Nigeria. An economist and former President, Chartered Institute of Bankers of Nigeria, Okechukwu Unegbu, said the naira’s gain is marginal. It is very important to have proper knowledge of the current exchange rates of the currency you intend trading with (e.g Dollar, Pound or Euro) and that of the Nigerian Naira. Currently, the amount of foreign currency is regulated through weekly auctions, while the Central Bank sets the exchange rate. All figures are live mid-market rates, which are not available to consumers and are for informational purposes only. Currently, the amount of foreign currency is regulated through weekly auctions, while the Central Bank sets the exchange rate. The Central Bank of Nigeria is the only bank with the authority to issue legal currency in the Federation. 56.8736 NGN. Last updated: 2020-11-03 16:56 UTC. Chinese Yuan Renminbi to Nigerian Naira Conversion. The Central Bank of Nigeria is the sole issuer of legal tender money throughout the Federation. Nigeria’s currency on Monday fell to N500 to the dollar after the Central Bank of Nigeria (CBN) adjusted the exchange rate by N6 across foreign exchange market segments. 1 NGN =. The Naira is subdivided into 100 kobo. This page shows a rate of Nigerian Naira for 1 United States Dollar and compare local money of United States and Nigeria. Tope Alake, November 20, 2020, 10:27 AM EST Currency at the weakest level in three months on … Click on a currency code to learn about it. The apex bank had on Tuesday adjusted the exchange rate at the official window by […] The Nigerian Naira is divided into 100 kobo. Website: http://www.cenbank.org. 1 INR = 5.13268 NGN. The local currency had remained stable since Monday, seemingly unaffected by the Central Bank of Nigeria’s (CBN) rate unification actions in recent days. 1973 to present. Last updated: 2020-11-03 05:46 UTC. Banknotes: Freq Used: ₦5, ₦10, ₦20, ₦50, ₦100, ₦200, ₦500, ₦1000, Central Bank: The Central Bank of Nigeria is the sole issuer of legal tender money throughout the Federation. Currently, the amount of foreign currency is regulated through weekly auctions, while the Central Bank sets the exchange rate. View current exchange rates for the pair United States Dollar (USD) and Nigerian Naira (NGN). Last updated: 2020-12-07 20:02 UTC. Currency exchange rates updates every day and use average rates based on Trusted International exchange rate. The Central Bank of Nigeria is the sole issuer of legal tender money throughout the Federation. The Nigerian naira is made up of 100 kobos. Central Bank of Nigeria All figures are live mid-market rates, which are not available to consumers and are for informational purposes only. The currency code for Nairas is NGN, and the currency symbol is ₦. or take NGN rates on the go with our XE Currency Apps and website. 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