NGN to VEF - Naira USD

Convert your NGN to VEF at no cost

NGN to VEF Comparison Table

Feature	NGN (Nigerian Naira)	VEF (Venezuelan Bolívar Fuerte)
Currency Code	NGN	VEF
Symbol	₦	Bs.F
Issuing Authority	Central Bank of Nigeria	Central Bank of Venezuela
Economic Strength	Developing, resource-based economy	Developing, resource-based economy
Exchange Rate Volatility	High	Hyperinflation (unreliable rates)
Popular Use Cases	Domestic transactions, remittances	Domestic transactions
Digital Payment Adoption	Growing adoption, mobile money prominent	Less developed
Inflation Rate	Historically high	Extremely high
Interest Rates	High	Not applicable due to hyperinflation
Foreign Exchange Reserves	Moderate	Very low
Foreign Direct Investment (FDI)	Increasing, resource-focused	Low

African Currencies	Asian Currencies
NGN to ZAR NGN to SDG NGN to SZL NGN to TND	NGN to SGD NGN to SEK NGN to SYP NGN to THB

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

Hyperinflation: The Bolívar has suffered from hyperinflation, leading to a dramatic loss of purchasing power.
Multiple Currency Systems: To combat hyperinflation, Venezuela has introduced multiple currency systems, including the Bolívar Fuerte and the Bolívar Soberano.
Economic Crisis: The Venezuelan economy has been in a deep crisis, with shortages of basic goods and widespread poverty.
Dollarization: Due to the Bolívar’s instability, many Venezuelans have turned to the US Dollar as a store of value, leading to dollarization.
Subdivisions: The Bolívar is divided into 100 céntimos.
Black Market: A thriving black market for foreign currency has emerged as people seek to protect their savings from the rapidly depreciating Bolívar.
Humanitarian Crisis: The economic collapse has contributed to a severe humanitarian crisis in Venezuela.