Convert your NGN to THB free
GN to THB Comparison Table
| Feature | NGN (Nigerian Naira) | THB (Thai Baht) |
|---|---|---|
| Currency Code | NGN | THB |
| Symbol | ₦ | ฿ |
| Issuing Authority | Central Bank of Nigeria | Bank of Thailand |
| Economic Strength | Developing, resource-based economy | Developing, export-oriented economy |
| Exchange Rate Volatility | High | Relatively stable |
| Popular Use Cases | Domestic transactions, remittances | Domestic and international transactions, tourism |
| Digital Payment Adoption | Growing adoption, mobile money prominent | High adoption, advanced infrastructure |
| 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, manufacturing and other sectors |
Key Observations:
- The NGN is a currency of a developing economy with high volatility, while the THB is from a developing, export-oriented economy with relative stability.
- Thailand 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 KES NGN to LYD NGN to MAD NGN to MGA | NGN to TJS NGN to TRY NGN to TWD NGN to UAH |
| European Currencies | Oceania Currencies |
| NGN to HUF NGN to MDL NGN to MKD NGN to PLN | NGN to AUD NGN to FJD NGN to NZD NGN to PGK |
7 Facts About the Thai Baht
The Thai Baht is the official currency of Thailand.
- Historical Significance: The Baht has a long history, dating back to the Sukhothai Kingdom. It was initially a silver coin, but its weight and purity varied over time.
- Floating Exchange Rate: The Thai Baht operates on a managed floating exchange rate system, allowing for some flexibility while maintaining control over the currency’s value.
- Tourism and Exports: Thailand’s strong tourism industry and export-oriented economy significantly influence the Baht’s value.
- Asian Financial Crisis: The Thai Baht was severely impacted by the Asian financial crisis in 1997, leading to a devaluation. However, the country has since recovered and strengthened its currency.
- Subdivisions: The Baht is divided into 100 satang.
- Digital Payments: Thailand has been at the forefront of digital payments, with a growing number of people using mobile wallets and electronic transfers.
- Economic Resilience: Despite economic challenges, the Thai Baht has shown resilience and has been a relatively stable currency in the region.
Some Nigerian and Thai Banks for Your Naira/Currency Exchange
| Country | Bank Name | City |
|---|---|---|
| Nigeria | Access Bank Plc | Lagos |
| Nigeria | United Bank for Africa (UBA) | Lagos |
| Nigeria | Zenith Bank Plc | Lagos |
| Thailand | Bangkok Bank | Bangkok |
| Thailand | Kasikorn Bank | Bangkok |
| Thailand | Siam Commercial Bank (SCB) | Bangkok |