Convert your NGN to UZS free.
NGN to UZS Comparison Table
| Feature | NGN (Nigerian Naira) | UZS (Uzbekistani Som) |
|---|---|---|
| Currency Code | NGN | UZS |
| Symbol | ₦ | сўм |
| Issuing Authority | Central Bank of Nigeria | Central Bank of the Republic of Uzbekistan |
| Economic Strength | Developing, resource-based economy | Developing, export-oriented 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:
- The NGN is a currency of a developing economy with high volatility, while the UZS is from a developing, export-oriented economy with relative stability.
- Uzbekistan has a less developed digital payment infrastructure compared to Nigeria.
- The interest rate differential between the two countries is significant.
Related Currency Pairings
| African Currencies | Asian Currencies |
| NGN to KES NGN to LYD NGN to MAD NGN to MGA | NGN to PKR NGN to QAR NGN to RUB NGN to SAR |
| European Currencies | South America Currencies |
| NGN to CHF NGN to CZK NGN to DKK NGN to EUR | NGN to ARS NGN to BOB NGN to BRL NGN to CLP |
7 Facts About the Uzbekistani Som
The Uzbekistani Som is the official currency of Uzbekistan.
- Post-Soviet Currency: Introduced in 1993, the Som replaced the Soviet Ruble, marking Uzbekistan’s economic independence.
- Stable Currency: Compared to many former Soviet republics, the Uzbekistani Som has shown relative stability.
- Cotton and Gold: Uzbekistan’s economy is significantly influenced by cotton and gold exports, which impact the Som’s value.
- Economic Challenges: Despite its stability, Uzbekistan faces economic challenges, including poverty and unemployment, which can affect the Som’s value.
- Subdivisions: The Som is divided into 100 tiyin.
- Cash-Based Economy: Uzbekistan is predominantly a cash-based society, although there’s a growing trend towards digital payments.
- Economic Reforms: Uzbekistan has implemented economic reforms to attract foreign investment and diversify its economy, which can impact the Som’s future.
Banks in Nigeria and Uzbekistan for Currency Conversion
| Country | Bank Name | City |
|---|---|---|
| Nigeria | Providus Bank | Lagos |
| Nigeria | Premium Trust Bank | Lagos |
| Nigeria | Ecobank Plc | Lagos |
| Uzbekistan | Asakabank | Tashkent |
| Uzbekistan | Uzpromstroybank | Tashkent |
| Uzbekistan | Hamkorbank | Tashkent |