Convert your NGN to RSD without stress
NGN to RSD Comparison Table
| Feature | NGN (Nigerian Naira) | RSD (Serbian Dinar) |
|---|---|---|
| Currency Code | NGN | RSD |
| Symbol | ₦ | din. |
| Issuing Authority | Central Bank of Nigeria | National Bank of Serbia |
| Economic Strength | Developing, resource-based economy | Developing, transitioning 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 low |
| Interest Rates | High | Lower than Nigeria |
| Foreign Exchange Reserves | Moderate | Adequate |
| Foreign Direct Investment (FDI) | Increasing, resource-focused | Increasing, various sectors |
Key Observations:
Nigeria and Serbia represent distinct economic trajectories. Nigeria, a developing nation, grapples with significant economic volatility, reflected in the fluctuations of its currency, the Naira (NGN). In contrast, Serbia, a developing nation undergoing economic transition, exhibits relative currency stability with the Serbian Dinar (RSD). This disparity is further accentuated by Serbia’s less developed digital payment infrastructure compared to Nigeria’s, despite both countries being in the developing category. The substantial interest rate differential between the two nations underscores the divergent monetary policies adopted to manage their respective economies.
Related Currency Pairings
| African Currencies | Asian Currencies |
| NGN to DZD NGN to BIF NGN to CDF NGN to GNF | NGN to INR NGN to IQD NGN to IRR NGN to ISK |
| European Currencies | North America Currencies |
| NGN to INR NGN to IQD NGN to IRR NGN to ISK | NGN to BSD NGN to CAD NGN to CUP NGN to DOP |
7 Facts About the Serbian Dinar
The Serbian Dinar is the official currency of Serbia.
1. Serbian Dinar (RSD): What it is, History – Investopedia
- Historical Currency: The Dinar has a long history in Serbia, with its roots dating back to the Middle Ages. nbs.rs
- Modern Reintroduction: The current Serbian Dinar was reintroduced in 2003, replacing the Yugoslav Dinar.
- Floating Exchange Rate: The Serbian Dinar operates on a floating exchange rate system, meaning its value fluctuates based on market forces. 1. NBS operations in the foreign exchange market www.nbs.rs
- Economic Challenges: Serbia has faced economic challenges, including high unemployment and inflation, which can impact the Dinar’s stability.
- Euro Adoption Goal: Serbia aims to adopt the Euro as its currency in the future, which could significantly impact the Dinar’s role in the economy.
- Subdivisions: The Dinar is divided into 100 paras, but these are no longer used in circulation.
- Economic Reforms: Serbia has implemented economic reforms to improve its financial standing and increase the Dinar’s stability.
Top Nigerian and Serbian Banks to Convert Your Naira to Serbian Dinar
| Country | Bank Name | City |
|---|---|---|
| Nigeria | Access Bank Plc | Lagos |
| Nigeria | United Bank for Africa (UBA) | Lagos |
| Nigeria | Zenith Bank Plc | Lagos |
| Serbia | Banca Intesa AD Beograd | Belgrade |
| Serbia | Komercijalna Banka Beograd AD | Belgradepen_spark |
| Serbia | UniCredit Bank Serbia AD | Belgrade |