Input the right figure to convert your NGN to BHD
NGN to BHD Comparison Table
| Feature | NGN (Nigerian Naira) | BHD (Bahraini Dinar) |
|---|---|---|
| Currency Code | NGN | BHD |
| Symbol | ₦ | BD |
| Issuing Authority | Central Bank of Nigeria | Central Bank of Bahrain |
| Economic Strength | Developing, resource-based economy | Developed, oil-based 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, oil and gas sector |
Key Observations:
- The NGN is a currency of a developing economy with high volatility, while the BHD is from a developed, oil-rich economy with relative stability. There are other facts about Bahrain currency and economic indicators you may need to check for more information
- Bahrain 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 |
Seven Facts About the Bahraini Dinar
High Value Currency: The Bahraini Dinar is distinguished by its exceptionally high value relative to most world currencies. This characteristic is a direct reflection of Bahrain’s robust economic standing.
Currency Peg: The Bahraini Dinar maintains a fixed exchange rate with the US Dollar. This currency peg serves as a cornerstone of Bahrain’s monetary policy, providing stability and predictability for both domestic and international economic activities.
Oil-Driven Economy: Bahrain’s economy is heavily dependent on oil and natural gas reserves. As a result, the value of the Dinar is intrinsically linked to fluctuations in global oil prices. Significant oil revenue inflows bolster the currency’s strength.
Central Bank Governance: The Central Bank of Bahrain holds the authority to issue and regulate the Bahraini Dinar. The bank plays a pivotal role in implementing monetary policies designed to safeguard the currency’s stability and foster economic growth.
Currency Subdivision: While technically divided into 1000 fils, the Bahraini Dinar primarily circulates in larger denominations. The fils subunit has minimal practical usage in everyday transactions.
Evolving Payment Landscape: Despite the traditional dominance of cash, Bahrain is experiencing a notable shift towards digital payment systems. This transition is driven by technological advancements and a growing preference for electronic transactions.
Offshore Financial Hub: Bahrain’s established position as a prominent offshore financial center significantly elevates the Dinar’s role in international finance. The currency’s stability and convertibility are essential attributes for facilitating cross-border financial transactions.
Top Banks in Nigeria and Bahrain to Convert Your Naira to Bahraini Dinar
| Country | Bank Name | City |
|---|---|---|
| Nigeria | Access Bank Plc | Lagos |
| Nigeria | United Bank for Africa (UBA) | Lagos |
| Nigeria | Zenith Bank Plc | Lagos |
| Bahrain | National Bank of Bahrain (NBB) | Manama |
| Bahrain | Ahli United Bank (AUB) | Manama |
| Bahrain | Bank of Bahrain and Kuwait (BBK) | Manama |