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NGN to SSP Comparison Table
Disclaimer: Due to the economic conditions and data availability for both Nigeria and South Sudan, a direct comparison between the NGN and SSP might be limited. This table provides a general overview based on available information.
| Feature | NGN (Nigerian Naira) | SSP (South Sudanese Pound) | Key Difference |
|---|---|---|---|
| Currency Code | NGN | SSP | Standard identifier |
| Symbol | ₦ | £ | Commonly used representation |
| Issuing Authority | Central Bank of Nigeria | Bank of South Sudan | Monetary authority |
| Economic Strength | Developing, resource-rich economy | Developing, post-conflict economy | Stage of economic development |
| Exchange Rate Volatility | High | Extremely volatile | Fluctuation compared to major currencies |
| Popular Use Cases | Domestic transactions, remittances | Domestic transactions, limited trade | Primary functions |
| Digital Payment Adoption | Growing adoption, mobile money prominent | Limited digital payment infrastructure | Stage of digital payment penetration |
| Inflation Rate | Historically high | Hyperinflation | Purchasing power erosion |
| Interest Rates | High | Very high | Cost of borrowing |
| Foreign Exchange Reserves | Moderate | Low | Ability to influence exchange rate |
| Foreign Direct Investment (FDI) | Increasing, resource-focused | Limited | Investment landscape |
Check to compare Nigerian naira with South Sudan currency and economic indicators
Key Observations:
- Both Nigeria and South Sudan are developing economies facing economic challenges.
- The NGN is relatively stable compared to the extremely volatile SSP.
- Both countries have limited digital payment infrastructure, but Nigeria is more advanced.
- Hyperinflation in South Sudan significantly erodes the purchasing power of the SSP.
Related Currency Pairings
| African Currencies | Asian Currencies |
| NGN to ZAR NGN to SDG NGN to SZL NGN to TND | NGN to TJS NGN to TRY NGN to TWD NGN to UAH |
| European Currencies | Oceania Currencies |
| NGN to HUF NGN to MDL NGN to MKD NGN to PLN | NGN to AUD NGN to FJD NGN to NZD NGN to PGK |
7 Facts About the South Sudanese Pound
- Recent Introduction: As a relatively new currency, the South Sudanese Pound lacks a deep historical context and has been subject to significant volatility.
- Hyperinflation: The country has experienced hyperinflation, eroding the purchasing power of the Pound and making it difficult for people to afford basic goods.
- Economic Instability: South Sudan’s economy is fragile, with dependence on oil exports, conflict, and humanitarian crises contributing to the Pound’s weakness.
- Currency Black Market: Due to economic challenges, a black market for foreign currencies has emerged, further destabilizing the official exchange rate.
- Limited Financial Infrastructure: The country’s banking system is underdeveloped, hindering the smooth functioning of the economy and contributing to the Pound’s instability.
- Subdivisions: The South Sudanese Pound is divided into 100 piasters.
- Humanitarian Crisis: The ongoing humanitarian crisis in South Sudan has exacerbated economic challenges and put additional pressure on the Pound.
Top 3 Largest Banks in Nigeria (by Asset Size)
| Country | Bank Name | City |
|---|---|---|
| Nigeria | Access Bank Plc | Lagos |
| Nigeria | United Bank for Africa (UBA) | Lagos |
| Nigeria | Zenith Bank Plc | Lagos |
| South Sudan | Ecobank South Sudan | Juba |
| South Sudan | Equity Bank South Sudan Limited | Juba |
| South Sudan | Kenyan Commercial Bank (KCB) South Sudan | Juba |