Convert NGN to JPY anywhere in the world.
NGN to JPY Comparison Table
| Feature | NGN (Nigerian Naira) | JPY (Japanese Yen) |
|---|---|---|
| Currency Code | NGN | JPY |
| Symbol | ₦ | ¥ |
| Issuing Authority | Central Bank of Nigeria | Bank of Japan |
| Economic Strength | Developing, resource-based economy | Developed, technology-driven economy |
| Exchange Rate Volatility | High | Relatively stable |
| Popular Use Cases | Domestic transactions, remittances | Domestic and international transactions, trade, investment |
| Digital Payment Adoption | Growing adoption, mobile money prominent | High adoption, advanced infrastructure |
| Inflation Rate | Historically high | Low inflation |
| Interest Rates | High | Low |
| Foreign Exchange Reserves | Moderate | Substantial |
| Foreign Direct Investment (FDI) | Increasing, resource-focused | Significant, technology and manufacturing |
Key Observations:
- The NGN is a currency of a developing economy with high volatility, while the JPY is from a developed, technology-driven economy with relative stability.
- Japan has a significantly more advanced digital payment infrastructure compared to Nigeria.
- The interest rate differential between the two countries is substantial.
Related Currency Pairings
| African Currencies | Asian Currencies |
| NGN to UGX NGN to XAF NGN to XOF NGN to ZMW | NGN to KWD NGN to KZT NGN to LAK NGN to LBP |
| European Currencies | North America Currencies |
| NGN to GBP NGN to GEL NGN to GHS NGN to HRK | NGN to BSD NGN to CAD NGN to CUP NGN to DOP |
Japanese Yen
- Global Currency: The Japanese Yen is one of the world’s most traded currencies, reflecting Japan’s significant role in the global economy.
- Export-Oriented Economy: Japan’s export-oriented industries, particularly electronics and automobiles, influence the Yen’s value and stability.
- Central Bank Control: The Bank of Japan oversees the issuance and management of the Yen, implementing monetary policies.
- Deflationary Pressures: Japan has grappled with deflationary pressures for an extended period, impacting the Yen’s value and economic growth.
- Subdivision: The Yen is divided into 100 sen, but these smaller units are no longer used in practical terms.
- Cash-Less Society: Japan is at the forefront of cashless transactions, with a high adoption rate of credit cards and digital payments.
- Currency Code: JPY is the official currency code for the Japanese Yen, used worldwide for financial transactions.
Trusted Banks in Nigeria and Japan For Naira to Yen Exchange
| Country | Bank Name | City |
|---|---|---|
| Nigeria | Access Bank Plc | Lagos |
| Nigeria | Fidelity Bank Plc | Lagos |
| Nigeria | First City Monument Bank | Lagos |
| Japan | Mitsubishi UFJ Financial Group (MUFG) | Tokyo |
| Japan | Sumitomo Mitsui Financial Group (SMFG) | Tokyo |
| Japan | Mizuho Financial Group | Tokyo |