Currencies

Countries that use the Naira

The Naira is an official national currency and used only in Nigeria. 1 Naira is devided into 100 Kobo.

ISO 4127:
NGN
Numeric:
566
Symbol:

1.00 Naira = 0.0028 US Dollar
(date: 05/24/2018)



Currency:

Convert to:

Amount:
Reverse currencies

Exchange rate history 1000 NGN in USD



Naira as currency

CountryRegion
NigeriaWestern Africa




Currency reserves for the Naira

According to the International Monetary Fund, the total broad money (M3) amounted to NGN 20,908.82 trillion at the end of 2016. For currency hedging, reserves were held in a total amount of 7,612.26 billion Nairas. This corresponds to a ratio of 1:2.7. Or in other words: 1 of 3 Nairas is deposited with a countervalue, which is internationally already above average.

Approximately 199.6 billion Nairas (2.6%) of the currency reserves exist in gold reserves, the remainder consists of foreign currencies, special drawing rights in the International Monetary Fund and other reserve positions.

Worldwide currency and gold reserves

US Dollar as currency

CountryRegion
American SamoaPolynesia
British Virgin IslandsCaribbean
EcuadorSouth America
El SalvadorCentral America
GuamMicronesia
East TimorSoutheast Asia
Marshall IslandsMicronesia
Micronesia, Federated States ofMicronesia
PalauMicronesia
Northern Mariana IslandsMicronesia
Puerto RicoCaribbean
Turks and Caicos IslandsCaribbean
United StatesNorth America
Virgin IslandsCaribbean
British Indian Ocean TerritoryEastern Africa
Bonaire, Saint Eustatius and SabaCaribbean