Convert NGN to CZK
NGN to CZK Comparison Table
| Feature | NGN (Nigerian Naira) | CZK (Czech Koruna) |
|---|---|---|
| Currency Code | NGN | CZK |
| Symbol | ₦ | Kč |
| Issuing Authority | Central Bank of Nigeria | Czech National Bank |
| Economic Strength | Developing, resource-based economy | Developed, transitioning economy |
| Exchange Rate Volatility | High | Relatively stable |
| Popular Use Cases | Domestic transactions, remittances | Domestic and international transactions |
| Digital Payment Adoption | Growing adoption, mobile money prominent | High adoption, advanced infrastructure |
| 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 economy with high volatility, while the CZK is from a developed, transitioning economy with relative stability.
- Czech Republic 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 |
Czech Koruna Facts
- Post-Soviet Currency: Introduced in 1993 after the dissolution of Czechoslovakia, replacing the Czechoslovak Koruna.
- Euro Aspirations: While not currently part of the Eurozone, the Czech Republic is considering adopting the Euro in the future.
- Currency Stability: Known for its relative stability, the Koruna has contributed to the Czech Republic’s economic growth.
- Subdivision: Divided into 100 haleru, but these smaller units are rarely used in practice.
- Central Bank Control: The Czech National Bank manages the issuance and value of the Koruna.
- Economic Strength: The Czech Republic’s economic progress has positively impacted the Koruna’s value.
- Currency Code: CZK is the international code for the Czech Koruna.
Top in Nigeria and Czech Republic to Convert Your Currency
| Country | Bank Name | City |
|---|---|---|
| Nigeria | Access Bank Plc | Lagos |
| Nigeria | Union Bank | Lagos |
| Nigeria | Zenith Bank Plc | Lagos |
| Czech Republic | Česká spořitelna | Prague |
| Czech Republic | Komerční banka | Prague |
| Czech Republic | ČSOB (Československá obchodní banka) | Prague |