Convert your NGN to UGX fast
NGN to UGX Comparison Table
| Feature | NGN (Nigerian Naira) | UGX (Ugandan Shilling) |
|---|---|---|
| Currency Code | NGN | UGX |
| Symbol | ₦ | Ush |
| Issuing Authority | Central Bank of Nigeria | Bank of Uganda |
| Economic Strength | Developing, resource-based economy | Developing, agriculture-based economy |
| Exchange Rate Volatility | High | Relatively stable |
| Popular Use Cases | Domestic transactions, remittances | Domestic transactions |
| Digital Payment Adoption | Growing adoption, mobile money prominent | Growing adoption, mobile money prominent |
| Inflation Rate | Historically high | Relatively high |
| Interest Rates | High | High |
| Foreign Exchange Reserves | Moderate | Low |
| Foreign Direct Investment (FDI) | Increasing, resource-focused | Increasing, various sectors |
Key Observations:
- Both NGN and UGX are currencies of developing economies facing economic challenges.
- High inflation rates are a common issue for both countries.
- Both Nigeria and Uganda have seen significant growth in mobile money adoption.
Related Currency Pairings
| African Currencies | Asian Currencies |
| NGN to UGX NGN to XAF NGN to XOF NGN to ZMW | NGN to NPR NGN to NZD NGN to OMR NGN to PHP |
| European Currencies | North America Currencies |
| NGN to HUF NGN to MDL NGN to MKD NGN to PLN | NGN to GTQ NGN to GYD NGN to HNL NGN to JMD |
7 Facts About the Ugandan Shilling
Post-Independence Currency: Introduced in 1966, the Shilling replaced the East African Shilling, marking Uganda’s economic independence.
Floating Exchange Rate: The Ugandan Shilling operates on a floating exchange rate system, meaning its value fluctuates based on market forces.
Economic Challenges: Uganda has faced economic challenges, including poverty, infrastructure development, and dependence on agriculture, which can impact the Shilling’s stability.
Remittances: Remittances from Ugandans working abroad contribute to the foreign exchange market and influence the Shilling’s value.
Inflation: Uganda has experienced periods of inflation, affecting the purchasing power of the Shilling.
Cash-Based Economy: Uganda is predominantly a cash-based society, although there’s a growing trend towards digital payments.
Subdivisions: The Shilling was previously divided into 100 cents, but due to high inflation, cents are no longer in circulation. Ugandan shilling – Wikipedia
Nigerian and Ugandan 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 |
| Uganda | Stanbic Bank Uganda | Kampala |
| Uganda | Centenary Bank | Kampala |
| Uganda | Standard Chartered Bank | Kampala |