Nigerian Naira in Brazilian Real

NGN Nigerian Naira

Country of application:
Nigeria

Coin denominations in circulation:
50 kobo, 1, 2.

Denominations of banknotes in circulation:
5, 10, 20, 50, 100, 200, 500, 1000 naira.

History reference:
The Nigerian Naira is the currency of Nigeria, the name of the currency comes from the name of the state and the river. The naira was put into circulation on January 1, 1973 instead of the Nigerian p...ound, 1 pound = 2 naira. Thus, Nigeria became the last African state to abandon the duodecimal monetary system. Rampant inflation has occurred in Nigeria. The Central Bank of Nigeria said they were trying to keep the annual inflation rate below 10%. In 2011, CBN increased its key interest rate 6 times from 6.25% to 12%. On January 31, 2012, CBN decided to keep its key interest rate at 12% to reduce the impact of inflation due to cuts in fuel subsidies. On October 25, 2021, eNaira, an electronic analogue of the national currency, was launched in Nigeria. eNaira is not a cryptocurrency, all transactions are controlled by financial government agencies.

BRL Brazilian Real

Country of application:
Brazil

Coin denominations in circulation:
1 real, 50, 25, 10, 5 and 1 centavo.

Denominations of banknotes in circulation:
100, 50, 20, 10, 5, 2 and 1 real.

History reference:
The Brazilian Real is the official currency of the Republic of Brazil. In Brazil, discovered in 1500 and for a long time being a colony of Spain, there was no single currency for a long time, after w...hich the Spanish real took its place. The word "Real" used today as the name of the Brazilian currency during the Middle Ages was the name of the Spanish and Portuguese gold coins, meaning "royal". In 1690, the Real became the official currency of Brazil. However, due to its depreciation and the uninterrupted process of inflation, only banknotes of huge denominations (from 1 thousand to 1 million) were used in circulation, therefore it is generally accepted that the actual Brazilian currency in the period from 1690 to 1942. was Reis (the plural meaning of the word real had the form reis, over time it transformed into reais). Reiss symbol was Rs.