NGN to LYD - Naira USD

Convert your NGN to LYD free

NGN to LYD Comparison Table

Feature	NGN (Nigerian Naira)	LYD (Libyan Dinar)
Currency Code	NGN	LYD
Symbol	₦	د.ل
Issuing Authority	Central Bank of Nigeria	Central Bank of Libya
Economic Strength	Developing, resource-based economy	Developing, oil-rich economy
Exchange Rate Volatility	High	Extremely volatile
Popular Use Cases	Domestic transactions, remittances	Domestic transactions
Digital Payment Adoption	Growing adoption, mobile money prominent	Limited digital payment infrastructure
Inflation Rate	Historically high	High inflation
Interest Rates	High	High
Foreign Exchange Reserves	Moderate	Low
Foreign Direct Investment (FDI)	Increasing, resource-focused	Limited

Both NGN and LYD are currencies of developing economies facing significant economic challenges.
High inflation rates are a common issue for both countries.
The Libyan Dinar has experienced extreme volatility due to the country’s political and economic instability.
Both countries have limited digital payment infrastructure.

African Currencies	Asian Currencies
NGN to DZD NGN to BIF NGN to CDF NGN to GNF	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

Historically Strong Currency: The Libyan Dinar has historically been considered a relatively strong currency, supported by Libya’s significant oil reserves.
Impact of Civil War: The Libyan Civil War and subsequent political instability have had a profound negative impact on the Dinar’s value and the overall economy.
Black Market: Due to economic challenges and shortages, a black market for foreign currencies has emerged, affecting the official exchange rate.
Multiple Exchange Rates: The existence of multiple exchange rates, including the official rate and black market rates, has created complexities for businesses and individuals.
Inflation: Libya has experienced high inflation rates, eroding the purchasing power of the Dinar and making it difficult for people to afford basic goods.
Cash Shortages: The country has faced frequent cash shortages, impacting economic activity and creating hardships for the population.
Central Bank Challenges: The Central Bank of Libya has struggled to maintain stability and control over the monetary policy amid the ongoing crisis.