Convert NGN to GTQ
NGN to GTQ Comparison Table
| Feature | NGN (Nigerian Naira) | GTQ (Guatemalan Quetzal) |
|---|---|---|
| Currency Code | NGN | GTQ |
| Symbol | ₦ | Q |
| Issuing Authority | Central Bank of Nigeria | Bank of Guatemala |
| Economic Strength | Developing, resource-based economy | Developing, export-oriented economy |
| Exchange Rate Volatility | High | Relatively stable |
| Popular Use Cases | Domestic transactions, remittances | Domestic transactions |
| Digital Payment Adoption | Growing adoption, mobile money prominent | Increasing adoption |
| Inflation Rate | Historically high | Relatively low |
| Interest Rates | High | Lower than Nigeria |
| Foreign Exchange Reserves | Moderate | Adequate |
| Foreign Direct Investment (FDI) | Increasing, resource-focused | Increasing, various sectors |
Key Observations:
- The NGN is a currency of a developing economy with high volatility, while the GTQ is from a developing, export-oriented economy with relative stability.
- Guatemala has a more advanced digital payment infrastructure compared to Nigeria.
- The interest rate differential between the two countries is significant
Related Currency Pairings
| African Currencies | Asian Currencies |
| NGN to DZD NGN to BIF NGN to CDF NGN to GNF | NGN to INR NGN to IQD NGN to IRR NGN to ISK |
| European Currencies | South America Currencies |
| NGN to HUF NGN to MDL NGN to MKD NGN to PLN | NGN to COP NGN to CRC NGN to PEN NGN to PYG |
7 Facts About the Guatemalan Quetzal
- Symbolic Currency: The Guatemalan Quetzal is named after the resplendent quetzal bird, a national symbol representing freedom and wealth. This connection to the country’s cultural heritage enhances its significance.
- Stable Currency: The Quetzal has maintained relative stability compared to other Central American currencies, contributing to a favorable economic climate.
- Central Bank Control: The Bank of Guatemala oversees the issuance and management of the Quetzal, implementing monetary policies to ensure stability.
- Economic Growth: Guatemala’s economic growth, particularly in sectors like agriculture and remittances, has positively impacted the Quetzal’s value.
- Subdivision: Divided into 100 centavos, these smaller units are rarely used in everyday transactions.
- Cash and Digital Payments: While cash remains prevalent, Guatemala is gradually adopting digital payment methods, modernizing the financial system.
- Currency Code: GTQ is the official currency code for the Guatemalan Quetzal, used for international financial transactions.
Notable Banks in Nigeria and Guatemala for Naira to Quetzal Conversion
| Country | Bank Name | City |
|---|---|---|
| Nigeria | Ecobank Plc | Lagos |
| Nigeria | United Bank for Africa (UBA) | Lagos |
| Nigeria | Fidelity Bank Plc | Lagos |
| Guatemala | Banco Industrial | Guatemala City |
| Guatemala | Banrural | Guatemala City |
| Guatemala | Banco G&T Continental (GT&C) | Guatemala City |