Convert your NGN to VND swiftly
NGN to VND Comparison Table
| Feature | NGN (Nigerian Naira) | VND (Vietnamese Dong) |
|---|---|---|
| Currency Code | NGN | VND |
| Symbol | ₦ | ₫ |
| Issuing Authority | Central Bank of Nigeria | State Bank of Vietnam |
| 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 |
| Digital Payment Adoption | Growing adoption, mobile money prominent | Increasing adoption |
| 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:
Nigeria and Vietnam, both developing nations, offer a stark contrast in economic performance. Nigeria, heavily reliant on oil, experiences wild swings in its currency, the Naira (NGN). In contrast, Vietnam, with a more diversified, export-oriented economy, enjoys greater currency stability with its Dong (VND). Vietnam has also outpaced Nigeria in digital payments, showcasing a more advanced financial landscape. To top it off, the interest rate gap between the two is substantial, reflecting their differing economic conditions and monetary policies.
Related Currency Pairings
| African Currencies | Asian Currencies |
| NGN to UGX NGN to XAF NGN to XOF NGN to ZMW | NGN to TJS NGN to TRY NGN to TWD NGN to UAH |
| 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 Vietnamese Đồng
The Vietnamese Đồng (VND) is the official currency of Vietnam.
- Post-War Currency: Introduced in 1978, the Đồng replaced the previous currency, the Đồng of North Vietnam and the Đồng of South Vietnam, after the Vietnam War.
- Managed Float: The Vietnamese Đồng operates on a managed floating exchange rate system, where the government intervenes to stabilize the currency.
- Economic Growth: Vietnam has experienced significant economic growth in recent decades, and the Đồng has generally strengthened.
- Export-Oriented Economy: Vietnam’s export-oriented economy, particularly in manufacturing and agriculture, influences the Đồng’s value.
- Subdivisions: The Đồng is divided into 10 hào.
- Cash-Based Society: While Vietnam is gradually adopting digital payments, it remains a predominantly cash-based society.
- Tourism Impact: Vietnam’s growing tourism industry can influence the demand for the Đồng and its exchange rate.
Top Banks in Nigeria and Vietnam For Currency Exchange
| Country | Bank Name | City |
|---|---|---|
| Nigeria | Access Bank Plc | Lagos |
| Nigeria | Guarantee Trust Bank | Lagos |
| Nigeria | Zenith Bank Plc | Lagos |
| Vietnam | Vietcombank | Hanoi |
| Vietnam | Agribank | Hanoi |
| Vietnam | VietinBank | Hanoi |