NGN to AMD - Naira USD

Convert your NGN to AMD

NGN to AMD Comparison Table

Feature	NGN (Nigerian Naira)	AMD (Armenian Dram)
Currency Code	NGN	AMD
Symbol	₦	֏
Issuing Authority	Central Bank of Nigeria	Central Bank of Armenia
Economic Strength	Developing, resource-based economy	Developing, transitioning economy
Exchange Rate Volatility	High	Relatively stable
Popular Use Cases	Domestic transactions, remittances	Domestic transactions, tourism
Digital Payment Adoption	Growing adoption, mobile money prominent	Increasing adoption, with focus on card payments
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, various sectors

The NGN is characterized by high volatility due to Nigeria’s economic challenges, while the AMD exhibits relative stability.
Armenia has a more advanced digital payment infrastructure compared to Nigeria.
The interest rate differential between the two countries is significant.
Nigeria’s economy is heavily reliant on oil, while Armenia has a more diversified economic base.

African Currencies	Asian Currencies
NGN to KES NGN to LYD NGN to MAD NGN to MGA	NGN to CNY NGN to HKD NGN to IDR NGN to ILS

European Currencies	North America Currencies
NGN to CHF NGN to CZK NGN to DKK NGN to EUR	NGN to BSD NGN to CAD NGN to CUP NGN to DOP

Introduction: The Armenian Dram was introduced in 1993, replacing the Soviet Ruble. This marked Armenia’s transition to an independent monetary system following the collapse of the Soviet Union.
Currency Structure: The currency code for the Armenian Dram is AMD. Each Dram is subdivided into 100 Lumma, though these sub-units are not physically represented in coins.
Monetary Authority: The Central Bank of Armenia, the Central Bank of the Republic of Armenia, is responsible for issuing and regulating the Dram. It implements monetary policies to maintain currency stability.
Currency Stability: Compared to many post-Soviet currencies, the Armenian Dram has shown relative stability. This stability is attributed to prudent monetary policies and economic reforms.
Economic Impact of Remittances: Remittances from Armenians living abroad constitute a significant portion of Armenia’s economy. These inflows have a positive impact on the Dram’s exchange rate.
Payment Methods: Armenia still maintains a largely cash-based economy. While digital payments are increasing, cash remains the primary mode of transaction in many sectors.
Physical Currency: The Armenian Dram is represented by both coins and banknotes. Coin denominations are typically used for smaller transactions, while banknotes cater to larger payments.