Nigerian Naira in Samoan Tala

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.

WST Samoan Tala

Country of application:
Samoa

Coin denominations in circulation:
10, 20, 50 seine, 1 and 2 hoists.

Denominations of banknotes in circulation:
2, 5, 10, 20, 50, 100 hoists.

History reference:
The tala is the currency of Samoa. During the German rule, the German mark was in circulation on the islands, which was replaced after the end of the First World War by the Samoan pound. Control over... the circulation of the Samoan pound was carried out by a special financial department of New Zealand. After the declaration of independence by Western Samoa, the formed Central Bank of Samoa issued the national currency, the Samoan tala, into circulation, which gradually replaced the pound, which was exchanged at a ratio of 1 pound to 2 tals. Coins for Western Samoa were not issued, until 1933 British coins were used, and after - New Zealand coins. On July 10, 1967, as a result of the monetary reform, the Samoan pound was replaced by the Samoan tali at a ratio of 1 pound = 2 tals. The names "tala" and "sene" are Samoan equivalents of the words "dollar" and "cent". 2008 Samoan tala banknotes are made of plastic.