Nigerian Naira in Iraqi Dinar

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.

IQD Iraqi Dinar

Country of application:
Iraq

Coin denominations in circulation:
10,000, 50,000 dinars.

Denominations of banknotes in circulation:
250, 500, 1000, 5000, 25000 dinars.

History reference:
The Iraqi dinar is the official currency of Iraq. There are two currencies in Iraq - old and new dinars. The old dinar also has such a name as "Saddams dinar". They were issued after the first Gulf W...ar and featured a portrait of Saddam Hussein on their front. Dinars of the old issue are in widespread circulation mainly in the territory of the autonomous region in the north of Iraq - Kurdistan. They received another name - Swiss dinars. In the country, the monetary unit developed slowly, for a long time foreign currencies were in circulation on the territory of the country, when the economy collapsed completely, the question arose of the need to manufacture a national and unified system of money. A new currency appeared in the country, which could please only with a security system. The entire currency was made in the same color scheme, in addition, it did not have much originality, for a long time this particular currency existed in the country.