NGN to MXN - Naira USD

Input the right figure to convert your NGN to MXN

NGN to MXN Comparison Table

Feature	NGN (Nigerian Naira)	MXN (Mexican Peso)
Currency Code	NGN	MXN
Symbol	₦	$
Issuing Authority	Central Bank of Nigeria	Bank of Mexico
Economic Strength	Developing, resource-rich economy	Emerging market, manufacturing-based
Exchange Rate Volatility	High	Moderate volatility
Popular Use Cases	Domestic transactions, remittances	Domestic transactions, tourism, trade
Digital Payment Adoption	Growing adoption, mobile money prominent	Increasing adoption, with variations
Inflation Rate	Historically high	Historically high, but showing improvement
Interest Rates	High	Relatively higher than developed economies
Foreign Exchange Reserves	Moderate	Moderate
Foreign Direct Investment (FDI)	Increasing, resource-focused	Increasing, manufacturing and services

Both Nigeria and Mexico are emerging economies with challenges related to inflation and exchange rate volatility.
Both countries are experiencing growth in digital payment adoption.
While Nigeria’s economy is heavily reliant on oil, Mexico has a more diversified economy.
Check Mexican vs Nigerian economic indicators
Remittances are significant for both countries, with Mexico being a major recipient.
Both currencies have experienced periods of depreciation against major currencies.

African Currencies	Asian Currencies
NGN to KES NGN to LYD NGN to MAD NGN to MGA	NGN to PKR NGN to QAR NGN to RUB NGN to SAR

European Currencies	South America Currencies
NGN to CHF NGN to CZK NGN to DKK NGN to EUR	NGN to COP NGN to CRC NGN to PEN NGN to PYG

The Mexican Peso is the official currency of Mexico.

Historical Significance: The Peso has a long history, dating back to the colonial era. It has undergone several reforms and redenominations over the years.
Floating Exchange Rate: The Mexican Peso operates on a floating exchange rate system, meaning its value fluctuates freely against other currencies based on market forces.
Economic Importance: Mexico is a major player in the global economy, and the Peso is widely traded on international currency markets.
NAFTA Impact: The North American Free Trade Agreement (NAFTA) significantly influenced the Mexican economy and, consequently, the Peso. The agreement increased trade with the United States and Canada.
Remittances: Remittances from Mexicans living abroad are a crucial source of foreign exchange for Mexico and impact the Peso’s value.
Inflation Challenges: Mexico has faced challenges with inflation, which can erode the purchasing power of the Peso. The central bank works to control inflation rates.
Digital Payments: Mexico has been adopting digital payment methods, with a growing number of people using debit and credit cards. This trend is shaping the financial landscape and influencing the Peso’s role in the economy.