Convert your NGN to BYN in few easy clicks
NGN to BYN Comparison Table
| Feature | NGN (Nigerian Naira) | BYN (Belarusian Ruble) |
|---|---|---|
| Currency Code | NGN | BYN |
| Symbol | ₦ | Br |
| Issuing Authority | Central Bank of Nigeria | National Bank of the Republic of Belarus |
| Economic Strength | Developing, resource-based economy | Developing, transition economy |
| Exchange Rate Volatility | High | Relatively stable |
| Popular Use Cases | Domestic transactions, remittances | Domestic 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, various sectors |
Key Observations:
- The NGN is a currency of a developing, resource-based economy with high volatility, while the BYN is from a developing, transition economy with relative stability.
- Belarus has a less developed 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 DZD NGN to BIF NGN to CDF NGN to GNF | NGN to CNY NGN to HKD NGN to IDR NGN to ILS |
| European Currencies | North America Currencies |
| NGN to BAM NGN to BGN NGN to BYN NGN to CAD | NGN to BSD NGN to CAD NGN to CUP NGN to DOP |
Seven Facts About the Belarusian Ruble
- Post-Soviet Currency: The Belarusian Ruble was introduced after the collapse of the Soviet Union, replacing the Soviet Ruble.
- Currency Renomination: Due to high inflation, Belarus underwent a currency renomination in 2016, introducing a new Belarusian Ruble.
- Central Bank Control: The National Bank of the Republic of Belarus is responsible for issuing and regulating the Ruble, implementing monetary policies to stabilize the currency.
- Economic Challenges: Belarus has faced economic challenges, impacting the Ruble’s stability. Government policies aim to address these issues.
- Russian Ruble Influence: Given the close economic ties between Belarus and Russia, the Russian Ruble often influences the Belarusian Ruble’s exchange rate.
- Cash-Based Economy: While digital payments are increasing, Belarus still maintains a largely cash-based economy.
- Subdivision: The Belarusian Ruble is divided into 100 kopecks, though their usage is limited in everyday transactions.
Top Banks in Nigeria and Belarus to Convert Your Naira to Belarusian Ruble
| Country | Bank Name | City |
|---|---|---|
| Nigeria | Access Bank Plc | Lagos |
| Nigeria | United Bank for Africa (UBA) | Lagos |
| Nigeria | Zenith Bank Plc | Lagos |
| Belarus | Belarusbank | Minsk |
| Belarus | Belagroprombank | Minsk |
| Belarus | BPS-Sberbank | Minsk |