Convert NGN to GYD
NGN to GYD Comparison Table
| Feature | NGN (Nigerian Naira) | GYD (Guyanese Dollar) |
|---|---|---|
| Currency Code | NGN | GYD |
| Symbol | ₦ | $ |
| Issuing Authority | Central Bank of Nigeria | Bank of Guyana |
| Economic Strength | Developing, resource-based economy | Developing, resource-based 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, mining and oil & gas |
Key Observations:
- Both NGN and GYD are currencies of developing, resource-based economies.
- The NGN is more volatile compared to the GYD.
- Guyana 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 MWK NGN to MZN NGN to NAD NGN to RWF | NGN to JPY NGN to JOD NGN to KGS NGN to KHR |
| European Currencies | Oceania Currencies |
| NGN to HUF NGN to MDL NGN to MKD NGN to PLN | NGN to GTQ NGN to GYD NGN to HNL NGN to JMD |
Guyanese Dollar
- Historical Currency: Introduced in 1839, the Guyanese Dollar is one of the world’s oldest currencies still in use. Wikipedia en.wikipedia.org
- Pegged to the US Dollar: To maintain stability, the Guyanese Dollar is pegged to the US Dollar.
- Central Bank Control: The Bank of Guyana oversees the issuance and management of the Dollar, ensuring its stability.
- Resource-Rich Economy: Guyana’s emerging oil and gas industry is expected to significantly impact the economy and the Dollar’s value.
- Subdivision: Divided into 100 cents, but these smaller units are rarely used in practice.
- Cash and Digital Payments: While cash remains prevalent, Guyana is gradually adopting digital payment methods.
- Currency Code: GYD is the official currency code for the Guyanese Dollar.
Top Banks in Nigeria and Guyana for Naira and Guyanese Dollar Conversion
| Country | Bank Name | City |
|---|---|---|
| Nigeria | Citibank Nigeria Ltd | Lagos |
| Nigeria | Union Bank | Lagos |
| Nigeria | Access Bank Plc | Lagos |
| Guyana | Guyana Bank for Trade and Industry (GBTI) | Georgetown |
| Guyana | Republic Bank (Guyana) Limited | Georgetown |
| Guyana | Demerara Bank Limited | Georgetown |