Input the right figure to convert your NGN to CLP
NGN to CLP Comparison Table
| Feature | NGN (Nigerian Naira) | CLP (Chilean Peso) |
|---|---|---|
| Currency Code | NGN | CLP |
| Symbol | ₦ | $ |
| Issuing Authority | Central Bank of Nigeria | Central Bank of Chile |
| Economic Strength | Developing, resource-based economy | Developing, export-oriented economy |
| 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 |
| 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, mining and other sectors |
Key Observations:
- The NGN is a currency of a developing economy with high volatility, while the CLP is from a developing, export-oriented economy with relative stability.
- Chile 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 ZAR NGN to SDG NGN to SZL NGN to TND | NGN to KWD NGN to KZT NGN to LAK NGN to LBP |
| European Currencies | Oceania Currencies |
| NGN to GBP NGN to GEL NGN to GHS NGN to HRK | NGN to AUD NGN to FJD NGN to NZD NGN to PGK |
7 Facts About the Chilean Peso
- Historical Currency: The Chilean Peso has been the official currency of Chile since 1975, with a previous version circulating in the 19th century.
- Floating Exchange Rate: The Chilean Peso operates on a floating exchange rate, meaning its value fluctuates based on market forces and economic conditions.
- Central Bank Control: The Central Bank of Chile is responsible for issuing and managing the Peso, implementing monetary policies to maintain stability.
- Copper-Driven Economy: Chile’s significant copper exports significantly influence the Peso’s value, as copper is a major component of the country’s economy.
- Inflation Management: The Chilean government has implemented policies to control inflation, which has positively impacted the Peso’s stability over time.
- Currency Symbol: The Chilean Peso is typically represented by a dollar sign ($) similar to the US Dollar, but it’s often clarified as CLP to avoid confusion.
- Economic Growth: Chile’s relatively stable economy and focus on market-oriented policies have contributed to the Peso’s strength and stability.
Top Banks in Nigeria and Chile For Naira to Chilean Peso Conversion
| Country | Bank Name | City |
|---|---|---|
| Nigeria | Providus Bank | Lagos |
| Nigeria | Sterling Bank | Lagos |
| Nigeria | Zenith Bank Plc | Lagos |
| Chile | Banco de Credito e Inversiones (BCI) | Santiago |
| Chile | Santander Chile Holding BSAC | Santiago |
| Chile | BancoEstado | Santiago |