Convert NGN to GEL
NGN to GEL Comparison Table
| Feature | NGN (Nigerian Naira) | GEL (Georgian Lari) |
|---|---|---|
| Currency Code | NGN | GEL |
| Symbol | ₦ | ₾ |
| Issuing Authority | Central Bank of Nigeria | National Bank of Georgia |
| Economic Strength | Developing, resource-based economy | Developing, transitioning 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 economy with high volatility, while the GEL is from a developing, transitioning economy with relative stability.
- Georgia 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 AZN NGN to BHD NGN to BND NGN to BTN |
| European Currencies | Oceania Currencies |
| NGN to RON NGN to RSD NGN to SEK NGN to TRY | NGN to AUD NGN to FJD NGN to NZD NGN to PGK |
7 Facts About the Georgian Lari
- Post-Soviet Currency: Introduced in 1995, replacing the Georgian Kupon, the Lari marked Georgia’s economic independence.
- Floating Exchange Rate: The Lari operates on a floating exchange rate, allowing its value to fluctuate based on market forces.
- Central Bank Control: The National Bank of Georgia oversees the issuance and management of the Lari, implementing monetary policies.
- Economic Growth: Georgia’s economic reforms and growth have positively impacted the Lari’s stability and value.
- Subdivision: The Lari is divided into 100 tetri, though these smaller units are rarely used in practice.
- Unique Currency Symbol: The Lari has a distinctive currency symbol, reflecting Georgia’s cultural identity.
- Tourism and Remittances: Georgia’s growing tourism industry and remittances from Georgians abroad influence the Lari’s exchange rate.
Top Banks in Nigeria and Georgia for NGN to Lari Conversion
| Country | Bank Name | City |
|---|---|---|
| Nigeria | Access Bank Plc | Lagos |
| Nigeria | United Bank for Africa (UBA) | Lagos |
| Nigeria | Zenith Bank Plc | Lagos |
| Georgia | Bank of Georgia (BoG) | Tbilisi |
| Georgia | Liberty Bank | Tbilisi |
| Georgia | TBC Bank JSC | Tbilisi |