Input the right figure to convert NGN to RON
NGN to RON Comparison Table
| Feature | NGN (Nigerian Naira) | RON (Romanian Leu) |
|---|---|---|
| Currency Code | NGN | RON |
| Symbol | ₦ | lei |
| Issuing Authority | Central Bank of Nigeria | National Bank of Romania |
| Economic Strength | Developing, resource-rich economy | Emerging market, EU member |
| Exchange Rate Volatility | High | Relatively stable |
| Popular Use Cases | Domestic transactions, remittances | Domestic transactions, regional trade, EU integration |
| Digital Payment Adoption | Growing adoption, mobile money prominent | Increasing adoption, with focus on card payments |
| Inflation Rate | Historically high | Generally lower than Nigeria |
| Interest Rates | High | Lower than Nigeria, influenced by EU monetary policy |
| Foreign Exchange Reserves | Moderate | Adequate |
| Foreign Direct Investment (FDI) | Increasing, resource-focused | Increasing, manufacturing and services |
Key Observations:
- The NGN is a currency of a developing economy with high volatility, while the RON is from an emerging market with a more stable economic outlook.
- Romania’s integration into the EU influences its economic policies and currency stability.
- Digital payment adoption is more advanced in Romania compared to Nigeria.
- The Romanian Leu is pegged to the Euro, which provides some stability to the currency.
- Nigeria’s economy is heavily reliant on oil prices, while Romania has a more diversified economy
Related Currency Pairings
| African Currencies | Asian Currencies |
| NGN to MWK NGN to MZN NGN to NAD NGN to RWF | NGN to SGD NGN to SEK NGN to SYP NGN to THB |
| European Currencies | North America Currencies |
| NGN to GBP NGN to GEL NGN to GHS NGN to HRK | NGN to GTQ NGN to GYD NGN to HNL NGN to JMD |
7 Facts About the Romanian Leu
The Romanian Leu is the official currency of Romania.
Euro Adoption Preparations: The Romanian government has been implementing measures to meet the criteria for Euro adoption, which could impact the Leu in the future.
Overcoming Hyperinflation: The Romanian Leu has undergone significant reforms to overcome hyperinflation that plagued the country in the 1990s.
Euro Adoption Goal: Romania is a member of the European Union and aims to adopt the Euro as its currency in the future.
Economic Growth: Romania has experienced economic growth in recent years, contributing to the Leu’s stability.
EU Membership Benefits: Romania’s membership in the European Union has positively impacted its economy and the Leu’s value.
Subdivisions: The Leu is divided into 100 bani.
Digital Payments: Romania is increasingly adopting digital payment methods, influencing the role of the Leu in the economy.
Top Banks in Nigeria and Romania to Convert your Naira to Leu
| Country | Bank Name | City |
|---|---|---|
| Nigeria | Access Bank Plc | Lagos |
| Nigeria | United Bank for Africa (UBA) | Lagos |
| Nigeria | Zenith Bank Plc | Lagos |
| Romania | Banca Transilvania | Cluj-Napoca |
| Romania | BCR (Banca Comercială Română) | Bucharest |
| Romania | BRD – Groupe Société Générale | Bucharest |