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NGN to CHF Comparison Table
| Feature | NGN (Nigerian Naira) | CHF (Swiss Franc) |
|---|---|---|
| Currency Code | NGN | CHF |
| Symbol | ₦ | CHF |
| Issuing Authority | Central Bank of Nigeria | Swiss National Bank |
| Economic Strength | Developing, resource-rich economy | Developed, stable economy |
| Exchange Rate Volatility | High | Relatively stable |
| Popular Use Cases | Domestic transactions, remittances | International trade, finance, tourism |
| Digital Payment Adoption | Growing adoption, mobile money prominent | High adoption, advanced infrastructure |
| Inflation Rate | Historically high | Low inflation |
| Interest Rates | High | Relatively low |
| Foreign Exchange Reserves | Moderate | Substantial |
| Foreign Direct Investment (FDI) | Increasing, resource-focused | Significant, diverse sectors |
Key Observations:
- The NGN is a currency of a developing economy with high volatility, while the CHF is a stable currency from a developed economy.
- The CHF, the Switzerland currency is widely used in international trade and finance, while the NGN is primarily used domestically.
- Digital payment adoption is more advanced in Switzerland 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 NPR NGN to NZD NGN to OMR NGN to PHP |
| European Currencies | South America Currencies |
| NGN to RON NGN to RSD NGN to SEK NGN to TRY | NGN to ARS NGN to BOB NGN to BRL NGN to CLP |
7 Facts About the Swiss Franc
The Swiss Franc is renowned for its stability and strength in the global financial market.
- Symbol of Stability: The Swiss Franc is often considered a safe-haven currency, meaning investors tend to buy it during times of economic uncertainty or crisis. This demand contributes to its strength.
- Non-Eurozone: Switzerland is not a member of the Eurozone and maintains its own currency, a decision that has contributed to its economic independence and financial stability.
- Central Bank Intervention: The Swiss National Bank (SNB) actively manages the Swiss Franc’s exchange rate to prevent excessive appreciation, which can harm the export-oriented economy.
- Negative Interest Rates: In an effort to curb the Franc’s strength and stimulate the economy, the SNB has implemented negative interest rates on certain deposits, making it costly for banks to hold large amounts of Swiss Francs.
- High Value: The Swiss Franc is a relatively high-value currency compared to many others, reflecting Switzerland’s prosperous economy.
- Limited Denominations: Unlike many currencies with numerous denominations, the Swiss Franc has a limited number of banknotes and coins, simplifying transactions.
- Global Acceptance: The Swiss Franc is widely accepted internationally, making it convenient for travelers and businesses dealing with Switzerland.
Top Banks in Nigeria and Liechtenstein to Covert Naira to Swiss Franc
| Country | Bank Name | City |
|---|---|---|
| Nigeria | Access Bank Plc | Lagos |
| Nigeria | United Bank for Africa (UBA) | Lagos |
| Nigeria | Zenith Bank Plc | Lagos |
| Liechtenstein | LGT Bank | Vaduz |
| Liechtenstein | Liechtensteinische Landesbank (LLB) | Vaduz |
| Liechtenstein | VP Bank | Vaduz |