Naira

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Naira
Image description is missing
Country: NigeriaNigeria Nigeria
Subdivision: 100 Kobo
ISO 4217 code : NGN
Abbreviation: ₦
Exchange rate :
(29 Mar 2020)

1  EUR  = 397.57 NGN
100 NGN = 0.25153 EUR

1  CHF  = 369.45 NGN
100 NGN = 0.27067 CHF

 Currency symbols 
Symbols of valid currencies and tokens ฿  - ₵  - ¢  - ₡  - ₫  - €  - ƒ  - ₲  - ₭  - ₾  - £  - ₤  - ₺  - ₼  - ₥  - ₦  - ₱   ₽  - ₹  - ₨  - ৲  - ৳  - $  - ₮  - ₩  - ¥  - ₴  - ₪  - 〒
Symbols of no longer valid currencies and tokens ₳  - ₢  - ₡  - ₰  - ₯  - ₠  - ₣  - ℳ  - ₧  - ℛℳ

The naira (₦, NGN) is the currency of Nigeria . Its currency symbol is an N with a double slash .

1 naira is divided into 100 Kobo (k). It was introduced in 1973 and replaced the Nigerian pound . During the oil boom of the 1970s, the naira was an internationally popular currency with exchange rates of up to $ 2 for one naira. However, it fell into disrepair during the 1980s.

Until the mid-1990s, there were only 5, 10, 20 and 50 naira banknotes; it was not until the second half of the decade that the 100, 200 and 500 notes were introduced due to inflation and exchange rate losses. since October 2005 there is the 1000-note. Despite its weakness, the naira can be used as a currency in the West African sub-region, at least in Nigeria's direct neighbors, without major problems.

On February 28, 2007, Nigeria issued the first 20 naira polymer banknotes ; the values ​​of 5, 10 and 50 Naira followed on September 30, 2009. The value levels 100, 200 and 500 Naira will continue to be printed on paper (as of 2012). Due to their low value, Kobo coins are rarely found in everyday payment transactions, but are only used in bank payment transactions.

The banknotes of the Naira are labeled in four languages ​​and contain the quantity of the respective banknote in Igbo , English , Yoruba and Haussa . While the first three languages are reproduced with Latin letters , the Arabic-based Ajami script is used for Haussa designation .

Like almost all West African currencies, the Naira is to be replaced by the Eco as part of the planned West African currency union .

Web links

Individual evidence

  1. ^ Naira - Nigeria currency