Input the right figures to convert your NGN to BAM.
NGN to BAM Comparison Table
| Feature | NGN (Nigerian Naira) | BAM (Bosnia and Herzegovina Convertible Mark) |
|---|---|---|
| Currency Code | NGN | BAM |
| Symbol | ₦ | KM |
| Issuing Authority | Central Bank of Nigeria | Central Bank of Bosnia and Herzegovina |
| Economic Strength | Developing, resource-based economy | Transitioning economy, aspiring EU member |
| Exchange Rate Volatility | High | Relatively stable |
| Popular Use Cases | Domestic transactions, remittances | Domestic transactions, trade |
| 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 |
Key Observations:
- The NGN is a currency of a developing economy with high volatility, while the BAM is from a transitioning economy with relative stability. You may check their economic indicators for more clarifications.
- Bosnia and Herzegovina 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 CNY NGN to HKD NGN to IDR NGN to ILS |
| European Currencies | South America Currencies |
| NGN to CHF NGN to CZK NGN to DKK NGN to EUR | NGN to ARS NGN to BOB NGN to BRL NGN to CLP |
Bosnia and Herzegovina Convertible Mark
1. Post-War Currency: Introduced in 1998 following the Bosnian War, the Convertible Mark replaced multiple currencies used during the conflict.
2. Currency Stability: Pegged to the German Mark, and subsequently the Euro, the Convertible Mark has maintained relative stability, contributing to economic recovery.
3. Divided Country, Unified Currency: Despite Bosnia and Herzegovina’s political divisions, the Convertible Mark serves as a unifying factor for the entire country.
4. Subdivisions: The Mark is divided into 100 feninga, though these smaller units are rarely used in practice.
5. Economic Challenges: While stable, Bosnia and Herzegovina faces economic challenges, including unemployment and brain drain, which can indirectly impact the Convertible Mark’s value.
6. Cash-Based Society: Bosnia and Herzegovina remains largely a cash-based society, although there’s a gradual shift towards digital payments.
7. Currency Code: BAM is the official currency code for the Convertible Mark, used for international financial transactions.
Top Banks in Nigeria and Bosnia and Herzegovina To Convert Naira and Convertible Mark
| Country | Bank Name | City |
|---|---|---|
| Nigeria | Access Bank Plc | Lagos |
| Nigeria | United Bank for Africa (UBA) | Lagos |
| Nigeria | Zenith Bank Plc | Lagos |
| Federation of Bosnia and Herzegovina | Sberbank BH d.d. | arajevo |
| Federation of Bosnia and Herzegovina | UniCredit Bank d.d. | arajevo |
| Federation of Bosnia and Herzegovina | NLB Banka d.d. Sarajevo | arajevo |