Convert your NGN to TWD free
NGN to TWD Comparison Table
| Feature | NGN (Nigerian Naira) | TWD (New Taiwan Dollar) |
|---|---|---|
| Currency Code | NGN | TWD |
| Symbol | ₦ | NT$ |
| Issuing Authority | Central Bank of Nigeria | Central Bank of the Republic of China (Taiwan) |
| Economic Strength | Developing, resource-based economy | Developed, export-oriented 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, manufacturing and other sectors |
Key Observations:
- The NGN is a currency of a developing economy with high volatility, while the TWD is from a developed, export-oriented economy with relative stability.
- Taiwan has a significantly more advanced digital payment infrastructure compared to Nigeria.
- The interest rate differential between the two countries is substantial.
Related Currency Pairings
| African Currencies | Asian Currencies |
| NGN to MWK NGN to MZN NGN to NAD NGN to RWF | NGN to INR NGN to IQD NGN to IRR NGN to ISK |
| European Currencies | Oceania Currencies |
| NGN to GBP NGN to GEL NGN to GHS NGN to HRK | NGN to AUD NGN to FJD NGN to NZD NGN to PGK |
7 Facts About the New Taiwan Dollar
The New Taiwan Dollar (NTD) is the official currency of Taiwan
- Historical Context: Introduced in 1949 to replace the old Taiwan Dollar, the New Taiwan Dollar was a crucial step in stabilizing the economy after the Chinese Civil War.
- Export-Oriented Economy: Taiwan’s export-oriented economy, particularly in electronics and technology, has significantly influenced the New Taiwan Dollar’s strength and stability.
- Managed Floating Exchange Rate: Taiwan operates a managed floating exchange rate system, allowing for some flexibility while maintaining control over the currency’s value.
- Economic Growth: Taiwan’s economic growth and development have contributed to the appreciation of the New Taiwan Dollar over the years.
- Technological Advancements: Taiwan’s role as a global technology hub has positively impacted its economy and currency.
- Subdivisions: The New Taiwan Dollar is divided into 10 jiao (角) or 100 fen (分), although these smaller units are rarely used in practice. en.wikipedia.org
- Global Acceptance: While not as widely accepted as major currencies like the US Dollar or Euro, the New Taiwan Dollar is recognized in many financial centers due to Taiwan’s economic importance.
Banks in Nigeria and Taiwan for Your Naira/Currency Conversion
| Country | Bank Name | City |
|---|---|---|
| Nigeria | Access Bank Plc | Lagos |
| Nigeria | United Bank for Africa (UBA) | Lagos |
| Nigeria | Zenith Bank Plc | Lagos |
| Taiwan | Bank of Taiwan | Taipei |
| Taiwan | Mega International Commercial Bank | Taipei |
| Taiwan | Cathay United Bank | Taipei |