Convert your NGN to BSD
NGN to BSD Comparison Table
| Feature | NGN (Nigerian Naira) | BSD (Bahamian Dollar) |
|---|---|---|
| Currency Code | NGN | BSD |
| Symbol | ₦ | $ |
| Issuing Authority | Central Bank of Nigeria | Central Bank of The Bahamas |
| Economic Strength | Developing, resource-based economy | Developed, tourism-based economy |
| Exchange Rate Volatility | High | Relatively stable |
| Popular Use Cases | Domestic transactions, remittances | Domestic and international transactions, tourism |
| 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, tourism and related sectors |
Key Observations:
- The NGN is a currency of a developing economy with high volatility, while the BSD is from a developed, tourism-based economy with relative stability.
- Bahamas 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 UGX NGN to XAF NGN to XOF NGN to ZMW | NGN to SGD NGN to SEK NGN to SYP NGN to THB |
| 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 |
Seven Facts About the Bahamian Dollar
- Pegged Currency: The Bahamian Dollar is fixed to the US Dollar at a one-to-one ratio. This maintains currency stability.
- Tourism-Based Economy: The Bahamian economy heavily relies on tourism, making the Bahamian Dollar crucial for business transactions in this sector.
- Central Bank Oversight: The Central Bank of The Bahamas controls the issuance and regulation of the Bahamian Dollar, implementing policies to ensure currency stability.
- Currency Code: BSD is the designated code for the Bahamian Dollar, used for global financial transactions.
- Physical Currency: The Bahamian Dollar exists in both coin and banknote forms, accommodating various transaction values.
- Digital Currency Pioneer: The Bahamas was the first country to introduce a legal digital currency, the Sand Dollar, as an alternative to physical cash.
- Financial Services Hub: Due to its role as a significant offshore financial center, the Bahamian Dollar is essential for international financial activities.
Top Banks in Nigeria and The Bahamas to Convert Naira to Bahamian Dollar
| Country | Bank Name | City |
|---|---|---|
| Nigeria | Access Bank Plc | Lagos |
| Nigeria | Guarantee Trust Bank Plc | Lagos |
| Nigeria | Zenith Bank Plc | Lagos |
| Bahamas | Bank of The Bahamas Limited (BOB) | Nassau |
| Bahamas | Commonwealth Bank | Nassau |
| Bahamas | Fidelity Bank (Bahamas) Limited | Nassau |