Convert your NGN to LKR
GN to LKR Comparison Table
| Feature | NGN (Nigerian Naira) | LKR (Sri Lankan Rupee) |
|---|---|---|
| Currency Code | NGN | LKR |
| Symbol | ₦ | රු |
| Issuing Authority | Central Bank of Nigeria | Central Bank of Sri Lanka |
| Economic Strength | Developing, resource-based economy | Developing, export-oriented economy |
| Exchange Rate Volatility | High | Relatively stable |
| Popular Use Cases | Domestic transactions, remittances | Domestic transactions, trade |
| Digital Payment Adoption | Growing adoption, mobile money prominent | Increasing adoption |
| Inflation Rate | Historically high | Relatively high |
| Interest Rates | High | High |
| Foreign Exchange Reserves | Moderate | Adequate |
| Foreign Direct Investment (FDI) | Increasing, resource-focused | Increasing, various sectors |
Key Observations:
- Both NGN and LKR are currencies of developing economies facing economic challenges.
- High inflation rates are a common issue for both countries.
- Sri Lanka has shown some progress in economic reforms compared to Nigeria.
Related Currency Pairings
| 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 | North America Currencies |
| NGN to BAM NGN to BGN NGN to BYN NGN to CAD | NGN to KYD NGN to MXN NGN to NIO NGN to PAB |
7 Facts About the Sri Lankan Rupee
The Sri Lankan Rupee is the official currency of Sri Lanka.
- Historical Background: Introduced in 1969, the Sri Lankan Rupee replaced the Ceylon Rupee, marking the country’s independence.
- Floating Exchange Rate: The Sri Lankan Rupee operates on a floating exchange rate system, meaning its value fluctuates based on market forces.
- Economic Challenges: Sri Lanka has faced economic challenges, including debt, inflation, and political instability, which have impacted the Rupee’s stability.
- Tourism Dependence: Tourism is a significant contributor to Sri Lanka’s economy, and the influx of foreign currencies impacts the Rupee’s value.
- Subdivisions: The Sri Lankan Rupee is divided into 100 cents.
- Cash-Based Economy: While Sri Lanka is gradually adopting digital payments, it remains predominantly a cash-based society.
- Recent Economic Crisis: The country faced a severe economic crisis in 2022, leading to a devaluation of the Rupee and shortages of essential goods.
Banks in Nigeria and Sri Lanka for Naira to Sri Lankan Rupee Exchange
| Country | Bank Name | City |
|---|---|---|
| Nigeria | Standard Chattered Bank | Lagos |
| Nigeria | Providus Bank | Lagos |
| Nigeria | Parallex Bank | Lagos |
| Sri Lanka | Bank of Ceylon (BOC) | Colombo |
| Sri Lanka | Commercial Bank of Ceylon | Colombo |
| Sri Lanka | People’s Bank | Colombo |