#EdesonCurrentAffairs *List of world Currencies Nigeria Naira Is Bigger Than* The naira was introduced on 1 January 1973, replacing the pound at a rate of 2 naira = 1 pound.This made Nigeria the last country to abandon the £sd currency system. There was a plan to redenominate the naira at 1 new naira = 100 old naira in 2008, but the plan has been suspended. The currency sign is U+20A6 ₦ NAIRA SIGN. Rampant inflation has occurred in Nigeria over the existence of naira. The Central Bank of Nigeria claimed that they attempted to control the annual inflation rate below 10%. In 2011, CBN increased key interest rate for 6 times, rising from 6.25% to 12%. On 31 January 2012, CBN decided to maintain the key interest rate at 12%, in order to reduce the impact of inflation due to reduction in fuel subsidies. Even if USA, and British currencies continue to beat Naira in value, Naira has value over some other currencies and they include the following: *Armenian Dram (Armenia) 1Naira = 2.47 AMD * Burundian Franc (Burundi) 1Naira = 9.38 BIF * Belarusian Ruble (Belarus) 1Naira = 64.54 BYR *Central African Franc 1Naira = 3.13 XAF * Congolese Franc (Congo) 1Naira = 5.58 CDF * Chilean Peso (Chile) 1Naira = 3.53 CLP * Colombian Peso (Colombia) 1Naira = 12.38 COP * Costa Rican Colon (Costa Rica)1Naira = 3.27 CRC *Djiboutian Franc (Djibouti) 1Naira = 1.10 DJF *Guinean Franc(Guinea Conakry) 1Naira = 42.31 GNF *Guyanese Dollar(Guyana) 1Naira = 1.26 GYD * Hungarian Forint (Hungary) 1Naira = 1.47 HUF * Indonesian Rupiah (Indonesia) 1Naira = 72.82 IDR * Iraqi Dinar (Iraq) 1Naira = 7.02 IQD *Iranian Rial (Iran) 1Naira = 161.32 IRR *Cambodian Riel (Cambodia) 1Naira = 24.70 KHF * Comoros Franc (Comoros Island) 1Naira = 2.35 KMF *Kazakhstani Tenge (Kazakhstan) 1Naira = 1.09 KZT * Laotian Kip (Laos) 1Naira = 48.48 LAK *Lebanese Pound (Lebanon) 1Naira = 9.13 LBP *Malagasy Ariary(Madagascar) 1Naira = 16.35 MGA * Burmese Kyat (Burma) 1Naira = 6.04 MMK *Mongolian Tughik (Mongolia) 1Naira = 11.19 MNT *Mauritanian Ouguiya (Mauritania) 1Naira = 1.76 MRO *Malawian Kwacha (Malawi) 1Naira = 2.75 MWK *Paraguayan Guarani (Paraguay) 1Naira = 27.86 PYG * Rwandan Franc (Rwanda) 1Naira = 4.16 RWF *Sao Tomean Dobra (Sao Tome) 1Naira = 117.22 STD *Sierra Leonean Leone(Sierra Leon) 1Naira = 26.27 SIL * Somali Shilling (Somalia) 1Naira = 4.71 SOS * South Korean Won(South Korea) 1Naira = 6.38 KRW *Tanzanian Shilling(Tanzania) 1Naira = 10.29 TZS *Ugandan Shilling (Uganda) 1Naira = 16.40 UGX *Uzbekistani Som (Uzbekistan) 1Naira =14.38 UZS *Vietnamese Dong (Vietnam) 1Naira =128.48 VND *West African Franc 1Naira = 3.12 XOF *Yemeni Rial (Yemen) 1Naira = 1.30 YER *Zimbabwean Dollar (Zimbabwe) 1Naira = 2.18 ZND ………………………………………………………………………………………………. To read Business tips and latest trends in Technology, visit my ICT Website edesoninfotech To Download latest Nigerian songs Visit my music site NigeriaMusicPlanet enjoy
Posted on: Fri, 24 Oct 2014 20:41:26 +0000
Trending Topics
Recently Viewed Topics
© 2015