Convert NGN to SYP
NGN to SYP Comparison Table
| Feature | NGN (Nigerian Naira) | SYP (Syrian Pound) |
|---|---|---|
| Currency Code | NGN | SYP |
| Symbol | ₦ | ل.س |
| Issuing Authority | Central Bank of Nigeria | Central Bank of Syria |
| Economic Strength | Developing, resource-based economy | War-torn 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 | Extremely high |
| Interest Rates | High | High |
| Foreign Exchange Reserves | Moderate | Low |
| Foreign Direct Investment (FDI) | Increasing, resource-focused | Limited |
Key Observations:
- Both NGN and SYP are currencies of developing economies facing significant economic challenges.
- High inflation rates are a common issue for both countries, with Syria experiencing hyperinflation.
- The Syrian Pound has experienced extreme volatility due to the country’s ongoing conflict and economic crisis.
- Both countries have limited digital payment infrastructure.
Related Currency Pairings
| African Currencies | Asian Currencies |
| NGN to DZD NGN to BIF NGN to CDF NGN to GNF | NGN to SGD NGN to SEK NGN to SYP NGN to THB |
| European Currencies | South America Currencies |
| NGN to GBP NGN to GEL NGN to GHS NGN to HRK | NGN to ARS NGN to BOB NGN to BRL NGN to CLP |
7 Facts About the Syrian Pound
- Hyperinflation: One of the most significant challenges facing the Syrian Pound is hyperinflation, which has eroded its value dramatically.
- Political Instability: The Syrian Civil War has had a devastating impact on the economy, leading to a collapse in the value of the Pound.
- Black Market: A thriving black market for foreign currencies has emerged as people seek to protect their savings from the rapidly depreciating Pound.
- Limited Functionality: The Pound’s value has become so low that it has limited practical use in everyday transactions.
- Subdivisions: The Syrian Pound is divided into 100 piasters.
- Humanitarian Crisis: The ongoing humanitarian crisis in Syria has exacerbated the economic situation and put further pressure on the Pound.
- Dollarization: Due to the severe depreciation of the Pound, many Syrians have turned to the US Dollar as a store of value, leading to dollarization of the economy.
Top 3 Largest Banks in Nigeria For Your Currency Conversion
| Country | Bank Name | City |
|---|---|---|
| Nigeria | Access Bank Plc | Lagos |
| Nigeria | United Bank for Africa (UBA) | Lagos |
| Nigeria | Zenith Bank Plc | Lagos |