Nigerian Currency To Inr Exchange Rate Today { 1 INR to NGN } December 2016

Nigerian Currency To Inr , rupees to naira , 1 inr to ngn exchange rate
Nigerian Currency To Inr, rupees to naira, 1 inr to ngn exchange rate

Nigerian Currency To Inr Exchange Rate Today { Nigerian Naira to Rupees , 1 Inr to Ngn }

For those who would be needing the updated Nigerian Currency to Inr exchange rate daily, you can just bookmark is page, we would be regularly updating the exchange rate of rupees to naira plus a brief details about the two currencies. The official exchange rate of the Indian Rupee to naira as of today stands at 1 INR to NGN 4.63. This exchange rate says a lot about the economy of a countries currency.

Nigerian Currency To INR Exchange Rate Today { 1 INR To NGN }

  • Official Rate : 1 Rupees to Naira 4.63

  • Gtbank INR To NGN exchange rate today : – 1 Rupees to Naira 4.9

Below is a brief details about the Indian Rupee and Nigerian Naira

Nigerian Currency To Inr , rupees to naira , 1 inr to ngn exchange rate
Nigerian Currency To Inr, rupees to naira, 1 inr to ngn exchange rate

What is the currency of India ?

Indian Rupees : Represented by the currency sign: ₹ and currency code: INR. It is the official currency of the Republic of India and 1 rupee can be subdivided into 100 paise. The issuance of the Indian Rupee is controlled by the Reserve Bank of India which is the central and regulatory bank of the country. The Reserve Bank of India manages currency in India and derives its role in currency management on the basis of the Reserve Bank of India Act, 1934. The Indian Rupee was named after the silver coin, rupiya, and was first issued by Sultan Sher Shah Suri in the 16th century, the currency was later continued by the Mughal Empire.

What is the currency of Nigeria ?

Nigerian Naira : It is the official currency of Nigeria, issued and controlled by the Central Bank Of Nigeria. The Nigerian naira is signified with the currency sign : ₦ and currency code : NGN . 1 Naira can be subdivided into 100 Kobo. The Naira in recent times is experiencing one of its worse loss in value as the currency value continues to drop against other foreign currencies.

What The Nigerian Naira to INR { Indian Rupee To Naira Exchange Rate } Means

The Indian Rupee to Naira exchange rate means the naira is a bit below the the rupee in terms of currency value though it shows both economies are still a bit similar. With the exchange rate as it is Nigerians buying products from India would have to pay more due to the foreign exchange rate. Like said earlier the Naira is currently experiencing one of its worst fall in value since inception though the currency can make some positive strides in the foreign exchange market if the country begins to export more products thus reducing the over reliance on Oil exports. Nigeria doesn’t have am imports problem but exports problem as 90% of the exports currently are from the vulnerable crude oil whereas the country is rich in Agriculture and man power (which can improve manufacturing of goods).

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