NGN to KWD - Naira USD

Convert your NGN to KWD

NGN to KWD Comparison Table

Feature	NGN (Nigerian Naira)	KWD (Kuwaiti Dinar)
Currency Code	NGN	KWD
Symbol	₦	د.ك
Issuing Authority	Central Bank of Nigeria	Central Bank of Kuwait
Economic Strength	Developing, resource-based economy	Developed, oil-rich 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	Lower than Nigeria
Foreign Exchange Reserves	Moderate	Substantial
Foreign Direct Investment (FDI)	Increasing, resource-focused	Significant, oil and gas sector

The NGN is a currency of a developing economy with high volatility, while the KWD is from a developed, oil-rich economy with relative stability.
Kuwait has a significantly more advanced digital payment infrastructure compared to Nigeria.
The interest rate differential between the two countries is substantial.

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	Oceania Currencies
NGN to BAM NGN to BGN NGN to BYN NGN to CAD	NGN to AUD NGN to FJD NGN to NZD NGN to PGK

Highest Value Currency: The Kuwaiti Dinar holds the distinction of being the currency with the highest value per unit globally. This high value reflects Kuwait’s substantial oil reserves and robust economy.
Pegged Currency: While often perceived as a free-floating currency, the Kuwaiti Dinar is actually pegged to an undisclosed basket of currencies. This pegging mechanism helps maintain its stability.
Oil-Rich Economy: Kuwait’s economy is heavily reliant on oil, and the Dinar’s strength is directly linked to the country’s oil revenue. High oil prices typically bolster the Dinar’s value.
Currency Board System: Kuwait operates a currency board system, which means the Central Bank of Kuwait must maintain sufficient foreign exchange reserves to fully back the Dinar in circulation. This system enhances currency stability.
Resilience During Crises: The Kuwaiti Dinar has demonstrated resilience during economic and geopolitical crises. Its strength is often attributed to the country’s substantial financial reserves.
High Living Standards: The Dinar’s value contributes to a high standard of living in Kuwait. Citizens enjoy a relatively affluent lifestyle supported by the strong currency.
Subdivision: The Dinar is divided into 1000 fils, but due to its high value, fils are rarely used in everyday transactions.