Nigerian Naira in Kenyan Shilling

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.

KES Kenyan Shilling

Country of application:
Kenya

Coin denominations in circulation:
1, 5, 10, 20 shillings.

Denominations of banknotes in circulation:
50, 100, 200, 500 and 1000 shillings.

History reference:
The national currency of Kenya is the Kenyan shilling. Import and export of foreign currency to Kenya is not limited. You can exchange it without any problems for local Kenyan francs, starting from t...he international airport, at branches of Kenyan banks, Kenyan exchange offices at large hotels. Accepted in the country and the main international travelers checks, and payment cards. The Kenyan shilling is one of the most stable currencies in East Africa. In fact, they often circulate in neighboring countries with less stable currencies, such as Sudan and Somalia. Although the exchange rate of the Kenyan shilling is less volatile compared to other regional currencies, it has generally weakened against the US dollar over the past decade.