NGN to IRR - Naira USD

Convert you NGN to IRR

NGN to IRR Comparison Table

Feature	NGN (Nigerian Naira)	IRR (Iranian Rial)
Currency Code	NGN	IRR
Symbol	₦	﷼
Issuing Authority	Central Bank of Nigeria	Central Bank of Iran
Economic Strength	Developing, resource-based economy	Developing, oil-based economy
Exchange Rate Volatility	High	Extremely volatile
Popular Use Cases	Domestic transactions, remittances	Domestic transactions
Digital Payment Adoption	Growing adoption, mobile money prominent	Limited digital payment infrastructure
Inflation Rate	Historically high	High inflation
Interest Rates	High	High
Foreign Exchange Reserves	Moderate	Low
Foreign Direct Investment (FDI)	Increasing, resource-focused	Limited

Both NGN and IRR are currencies of developing economies facing significant economic challenges.
High inflation rates are a common issue for both countries.
The Iranian Rial is subject to extreme volatility due to economic sanctions and other factors.
Both countries have limited digital payment infrastructure.

African Currencies	Asian Currencies
NGN to DZD NGN to BIF NGN to CDF NGN to GNF	NGN to AZN NGN to BHD NGN to BND NGN to BTN

European Currencies	South America Currencies
NGN to BAM NGN to BGN NGN to BYN NGN to CAD	NGN to ARS NGN to BOB NGN to BRL NGN to CLP

Historical Currency: The Iranian Rial has a long history, dating back to the 18th century, making it one of the world’s oldest currencies still in use.
Low Value: Due to persistent inflation, the Rial has experienced significant devaluation over the years, resulting in large denominations for everyday transactions.
Central Bank Control: The Central Bank of Iran oversees the issuance and management of the Rial, implementing monetary policies.
Economic Sanctions: International sanctions imposed on Iran have significantly impacted the Rial’s value and stability.
Subdivision: The Rial is divided into 100 dinars, but these smaller units are rarely used in practice.
Cash-Based Economy: Despite efforts to promote digital payments, Iran remains largely a cash-based society due to various factors, including sanctions and infrastructure limitations.
Currency Code: IRR is the official currency code for the Iranian Rial, used in international financial transactions.