Input the right amount to convert NGN to ARS
NGN to ARS Comparison Table
| Feature | NGN (Nigerian Naira) | ARS (Argentine Peso) |
|---|---|---|
| Currency Code | NGN | ARS |
| Symbol | ₦ | $ |
| Issuing Authority | Central Bank of Nigeria | Central Bank of Argentina |
| Economic Strength | Developing, resource-based economy | Emerging market with economic challenges |
| Exchange Rate Volatility | High | High |
| Popular Use Cases | Domestic transactions, remittances | Domestic transactions, trade |
| Digital Payment Adoption | Growing adoption, mobile money prominent | Increasing adoption |
| Inflation Rate | Historically high | High inflation |
| Interest Rates | High | High |
| Foreign Exchange Reserves | Moderate | Moderate |
| Foreign Direct Investment (FDI) | Increasing, resource-focused | Increasing, various sectors |
Key Observations:
- Both NGN and ARS are currencies of developing economies facing economic challenges.. Compare Argentina currency to naira and economic indicators
- High inflation rates are a common issue for both countries.
- Exchange rate volatility is significant for both currencies.
Related Currency Pairings
| African Currencies | Asian Currencies |
| NGN to KES NGN to LYD NGN to MAD NGN to MGA | NGN to CNY NGN to HKD NGN to IDR NGN to ILS |
| European Currencies | South America Currencies |
| NGN to CHF NGN to CZK NGN to DKK NGN to EUR | NGN to ARS NGN to BOB NGN to BRL NGN to CLP |
Seven Facts About the Argentine Peso
1. Multiple Peso Versions: Hyperinflation
Argentina has experienced significant economic challenges, leading to multiple versions of the peso. This reflects the country’s struggle with hyperinflation.
2. Floating Exchange Rate: Volatility
The Argentine peso operates on a floating exchange rate, meaning its value fluctuates based on market forces. This can lead to currency volatility.
3. Currency Controls: Capital Flow
Argentina has implemented currency controls to manage capital flow and protect the peso’s value. These restrictions can impact economic activity.
4. High Inflation: Economic Challenges
Argentina has historically struggled with high inflation rates, which erodes the purchasing power of the peso. This economic instability affects citizens and businesses.
5. Dual Currency System: Dollarization
Due to economic instability, many Argentines use US dollars as a form of currency, creating a dual currency system. This reflects a lack of confidence in the peso.
6. Central Bank Intervention: Monetary Policy:
The Central Bank of Argentina intervenes in the foreign exchange market to manage the peso’s value. These actions aim to stabilize the currency and protect the economy.
7. Informal Economy: Cash Transactions:
Argentina has a significant informal economy where cash transactions are prevalent. This contributes to challenges in tax collection and economic measurement.
Top Banks in Nigeria and Argentina to Convert Naira to Argentina Peso
| Country | Bank Name | City |
|---|---|---|
| Nigeria | Access Bank Plc | Lagos |
| Nigeria | United Bank for Africa (UBA) | Lagos |
| Nigeria | Zenith Bank Plc | Lagos |
| Argentina | Banco de la Nación Argentina | Buenos Aires |
| Argentina | Grupo Financiero Galicia | Buenos Aires |
| Argentina | Banco Santander Río | Buenos Aires |