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NGN to NZD Comparison Table
| Feature | NGN (Nigerian Naira) | NZD (New Zealand Dollar) |
|---|---|---|
| Currency Code | NGN | NZD |
| Symbol | ₦ | $ |
| Issuing Authority | Central Bank of Nigeria | Reserve Bank of New Zealand |
| Economic Strength | Developing, resource-based economy | Developed, export-oriented 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, diverse sectors |
Nigeria and New Zealand: A Comparative Economic Analysis
Nigeria and New Zealand represent divergent economic landscapes. Nigeria, as a developing nation, grapples with significant economic volatility, reflected in the fluctuations of its currency, the Naira (NGN). In stark contrast, New Zealand, a developed, export-oriented economy, enjoys relative currency stability through the New Zealand Dollar (NZD). This disparity is accentuated by New Zealand’s significantly more advanced digital payment infrastructure compared to Nigeria’s. The substantial interest rate differential between the two nations underscores the contrasting monetary policies adopted to manage their respective economies.
Related Currency Pairings
| African Currencies | Asian Currencies |
| NGN to ZAR NGN to SDG NGN to SZL NGN to TND | NGN to NPR NGN to NZD NGN to OMR NGN to PHP |
| European Currencies | Oceania Currencies |
| NGN to GBP NGN to GEL NGN to GHS NGN to HRK | NGN to AUD NGN to FJD NGN to NZD NGN to PGK |
7 Facts About the New Zealand Dollar
The New Zealand Dollar, often informally called the Kiwi dollar, is the official currency of New Zealand.
- Floating Currency: The New Zealand Dollar operates on a floating exchange rate system, meaning its value fluctuates freely against other currencies.
- Early Adopter of Floating Exchange Rates: New Zealand was one of the first countries to adopt a floating exchange rate system, which gave it flexibility in managing its economy.
- Export-Oriented Economy: New Zealand’s economy is heavily reliant on exports, particularly agricultural products, and the value of the New Zealand Dollar is influenced by global commodity prices.
- Reserve Currency: The New Zealand Dollar is considered a reserve currency by some central banks, reflecting the stability and credibility of the New Zealand economy.
- Interest Rate Sensitivity: The New Zealand Dollar is often sensitive to changes in interest rate policies implemented by the Reserve Bank of New Zealand.
- Digital Innovation: New Zealand has been at the forefront of digital currency and financial technology innovations, which can impact the future of the New Zealand Dollar.
- Subdivisions: The New Zealand Dollar is divided into 100 cents
Top Banks in Nigeria and New Zealand for Naira to New Zealand Dollar Exchange
| Country | Bank Name | City |
|---|---|---|
| Nigeria | Access Bank Plc | Lagos |
| Nigeria | United Bank for Africa (UBA) | Lagos |
| Nigeria | Zenith Bank Plc | Lagos |
| New Zealand | ANZ Bank New Zealand | Auckland |
| New Zealand | ASB Bank | Auckland |
| New Zealand | Westpac New Zealand | Auckland |