NGN to SAR - Naira USD

Convert your NGN to SAR free

NGN to SAR Comparison Table

Feature	NGN (Nigerian Naira)	SAR (Saudi Riyal)
Currency Code	NGN	SAR
Symbol	₦	ر.س
Issuing Authority	Central Bank of Nigeria	Saudi Arabian Monetary Authority (SAMA)
Economic Strength	Developing, resource-based economy	Developed, oil-rich economy
Exchange Rate Volatility	High	Relatively stable
Popular Use Cases	Domestic transactions, remittances	Domestic and international transactions, trade, investment
Digital Payment Adoption	Growing adoption, mobile money prominent	High adoption, advanced infrastructure
Inflation Rate	Historically high	Low inflation
Interest Rates	High	Lower than Nigeria
Foreign Exchange Reserves	Moderate	Substantial
Foreign Direct Investment (FDI)	Increasing, resource-focused	Significant, oil and gas sector

The NGN is a currency of a developing economy with high volatility, while the SAR is from a developed, oil-rich economy with relative stability.
Saudi Arabia has a significantly more advanced digital payment infrastructure compared to Nigeria.
The interest rate differential between the two countries is substantial.

African Currencies	Asian Currencies
NGN to ZAR NGN to SDG NGN to SZL NGN to TND	NGN to NPR NGN to NZD NGN to OMR NGN to PHP

European Currencies	Oceania Currencies
NGN to RON NGN to RSD NGN to SEK NGN to TRY	NGN to AUD NGN to FJD NGN to NZD NGN to PGK

The Saudi Riyal is the official currency of Saudi Arabia.

Pegged to the US Dollar: One of the most distinctive features of the Saudi Riyal is its fixed exchange rate to the US Dollar. This peg provides stability to the currency.
Strong and Stable Currency: Due to the peg to the US Dollar and Saudi Arabia’s substantial oil reserves, the Saudi Riyal is considered one of the world’s strongest and most stable currencies.
Oil-Rich Economy: Saudi Arabia’s economy is heavily reliant on oil and gas, and the Rial’s strength is closely tied to oil prices.
Currency Board System: Saudi Arabia operates a currency board system, requiring the Saudi Arabian Monetary Agency (SAMA) to maintain sufficient foreign exchange reserves to fully back the Riyal in circulation.
High Value: The Saudi Riyal is a high-value currency compared to many others, reflecting Saudi Arabia’s economic prosperity.
Subdivisions: The Rial is divided into 100 halalas.
Limited International Use: While strong and stable, the Saudi Riyal is primarily used within Saudi Arabia, with limited acceptance in other countries due to the prevalence of the US Dollar in international transactions.