Convert your NGN to PKR free
NGN to PKR Comparison Table
| Feature | NGN (Nigerian Naira) | PKR (Pakistani Rupee) |
|---|---|---|
| Currency Code | NGN | PKR |
| Symbol | ₦ | ₨ |
| Issuing Authority | Central Bank of Nigeria | State Bank of Pakistan |
| Economic Strength | Developing, resource-based economy | Developing, agriculture-based economy |
| Exchange Rate Volatility | High | Relatively stable |
| Popular Use Cases | Domestic transactions, remittances | Domestic transactions |
| Digital Payment Adoption | Growing adoption, mobile money prominent | Increasing adoption |
| Inflation Rate | Historically high | Relatively high |
| Interest Rates | High | High |
| Foreign Exchange Reserves | Moderate | Low |
| Foreign Direct Investment (FDI) | Increasing, resource-focused | Limited |
Key Observations:
- Both NGN and PKR are currencies of developing economies facing economic challenges.
- High inflation rates are a common issue for both countries.
- Pakistan has a less developed digital payment infrastructure compared to Nigeria
Related Currency Pairings
| African Currencies | Asian Currencies |
| NGN to KES NGN to LYD NGN to MAD NGN to MGA | NGN to KWD NGN to KZT NGN to LAK NGN to LBP |
| European Currencies | South America Currencies |
| NGN to HUF NGN to MDL NGN to MKD NGN to PLN | NGN to COP NGN to CRC NGN to PEN NGN to PYG |
7 Facts About the Pakistani Rupee
The Pakistani Rupee is the official currency of Pakistan.
- Historical Background: Introduced in 1948, the Pakistani Rupee replaced the Indian Rupee after the partition of India.
- Managed Floating Exchange Rate: Pakistan operates a managed floating exchange rate system for the Rupee, meaning the central bank intervenes to manage currency fluctuations.
- Economic Challenges: Pakistan’s economy faces challenges, including inflation, current account deficits, and political instability, which impact the Rupee’s stability.
- Remittances: Remittances from overseas Pakistanis are a significant source of foreign exchange for the country and influence the Rupee’s value.
- Inflation: The Pakistani Rupee has faced periods of high inflation, eroding the purchasing power of citizens.
- Cash-Based Economy: Pakistan is predominantly a cash-based society, although there’s a growing trend towards digital payments.
- Subdivisions: The Pakistani Rupee is divided into 100 paisa.
Top Banks in Nigeria
| Country | Bank Name | City |
|---|---|---|
| Nigeria | Access Bank Plc | Lagos |
| Nigeria | United Bank for Africa (UBA) | Lagos |
| Nigeria | Zenith Bank Plc | Lagos |