Convert NGN to KHR instantly
NGN to KHR Comparison Table
| Feature | NGN (Nigerian Naira) | KHR (Cambodian Riel) |
|---|---|---|
| Currency Code | NGN | KHR |
| Symbol | ₦ | ៛ |
| Issuing Authority | Central Bank of Nigeria | National Bank of Cambodia |
| Economic Strength | Developing, resource-based economy | Developing, tourism-based economy |
| Exchange Rate Volatility | High | Relatively stable |
| Popular Use Cases | Domestic transactions, remittances | Domestic transactions, tourism |
| 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, tourism and related sectors |
Key Observations:
- The NGN is a currency of a developing economy with high volatility, while the KHR is from a developing, tourism-based economy with relative stability.
- Cambodia has a less developed 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 AZN NGN to BHD NGN to BND NGN to BTN |
| European Currencies | North America Currencies |
| NGN to BAM NGN to BGN NGN to BYN NGN to CAD | NGN to BSD NGN to CAD NGN to CUP NGN to DOP |
7 Facts About the Cambodian Riel
- Post-War Currency: The Cambodian Riel was reintroduced in 1980 after a period of economic turmoil during the Khmer Rouge regime.
- Floating Exchange Rate: The Riel operates on a floating exchange rate, meaning its value fluctuates based on market forces.
- US Dollar Dominance: While the Riel is the official currency, the US Dollar is widely accepted and often preferred for larger transactions.
- Economic Growth: Cambodia’s growing economy, particularly in sectors like tourism and garment manufacturing, has influenced the Riel’s value.
- Inflation Challenges: The Riel has faced inflationary pressures over the years, impacting its purchasing power.
- Subdivision: The Riel is divided into 100 Sen, though these smaller units have limited practical use.
- Digital Payments: Cambodia is gradually adopting digital payment systems, reducing reliance on cash and modernizing the financial sector.
Reputable Banks in Nigeria and Cambodia for Naira to Riel Conversion
| Country | Bank Name | City |
|---|---|---|
| Nigeria | First Bank of Nigeria Plc | Lagos |
| Nigeria | United Bank for Africa (UBA) | Lagos |
| Nigeria | Fidelity Bank Plc | Lagos |
| Cambodia | ACLEDA Bank Plc. | Phnom Penh |
| Cambodia | Canadia Bank Plc. | Phnom Penh |
| Cambodia | Hattha Bank Plc. | Phnom Penh |