Input the right figure to convert your NGN to SBD
NGN to SBD Comparison Table
| Feature | NGN (Nigerian Naira) | SBD (Solomon Islands Dollar) |
|---|---|---|
| Currency Code | NGN | SBD |
| Symbol | ₦ | $ |
| Issuing Authority | Central Bank of Nigeria | Central Bank of Solomon Islands |
| Economic Strength | Developing, resource-rich economy | Developing, resource-based economy |
| Exchange Rate Volatility | High | Relatively stable |
| Popular Use Cases | Domestic transactions, remittances | Domestic transactions, tourism |
| Digital Payment Adoption | Growing adoption, mobile money prominent | Limited digital payment infrastructure |
| Inflation Rate | Historically high | Generally lower than Nigeria |
| Interest Rates | High | Relatively higher than developed economies |
| Foreign Exchange Reserves | Moderate | Limited |
| Foreign Direct Investment (FDI) | Increasing, resource-focused | Limited |
Key Observations:
- Both Nigeria and the Solomon Islands are developing economies with significant reliance on natural resources.
- The NGN is significantly more volatile compared to the SBD.
- Digital payment infrastructure is more developed in Nigeria than in the Solomon Islands.
- The economic scale and influence of Nigeria are considerably larger than the Solomon Islands.
Related Currency Pairings
| African Currencies | Asian Currencies |
| NGN to UGX NGN to XAF NGN to XOF NGN to ZMW | NGN to PKR NGN to QAR NGN to RUB NGN to SAR |
| European Currencies | North America Currencies |
| NGN to RON NGN to RSD NGN to SEK NGN to TRY | NGN to BSD NGN to CAD NGN to CUP NGN to DOP |
7 Facts About the Solomon Islands Dollar
The Solomon Islands Dollar is the official currency of the Solomon Islands.
Economic Diversification: Efforts to diversify the economy away from dependence on natural resources are underway, which could impact the Dollar’s future stability.
Post-Independence Currency: Introduced in 1977, the Solomon Islands Dollar replaced the Australian Dollar following the country’s independence.
Floating Exchange Rate: The Solomon Islands Dollar operates on a floating exchange rate system, meaning its value fluctuates based on market forces.
Economic Challenges: The Solomon Islands faces economic challenges, including dependence on natural resources and vulnerability to natural disasters, which can impact the Dollar’s stability.
Cash-Based Economy: The Solomon Islands is predominantly a cash-based society, although there’s a growing trend towards digital payments.
Subdivisions: The Solomon Islands Dollar is divided into 100 cents.
Challenges of Remoteness: The Solomon Islands’ geographic isolation can present challenges for financial services and the overall economy, impacting the Dollar’s stability.
Top Banks in Nigeria and Solomon Islands to Convert Naira to Solomon Islands Dollar
| Country | Bank Name | City |
|---|---|---|
| Nigeria | Guarantee Trust Bank Plc | Lagos |
| Nigeria | United Bank for Africa (UBA) | Lagos |
| Nigeria | Zenith Bank Plc | Lagos |
| Solomon Islands | ANZ Bank (Solomon Islands) | Honiara |
| Solomon Islands | Westpac Banking Corporation (Solomon Islands) | Honiara |
| Solomon Islands | National Bank of Solomon Islands (NBSI) | Honiara |