Sierra Leonean Leone in Nigerian Naira

SLL Sierra Leonean Leone

Country of application:
Sierra leone

Coin denominations in circulation:
10, 50, 100, 500 leons.

Denominations of banknotes in circulation:
1,000, 2,000, 5,000, 10,000 leons.

History reference:
Leone (Sierra Leonean leone) is the national currency and fiat (fiduciary) money of the Republic of Sierra Leone (Republic of Sierra Leone) since 1963, when it replaced the previous official currency... - the West African pound in the ratio of 1 pound = 2 leone. Initially, the leone was pegged to the pound sterling, then to the SDR, then to the US dollar, and since 1986, the leone has become a freely convertible currency. The coups and civil war that continued after independence caused an economic crisis and inflation in the country, which continues to this day. The Republic of Sierra Leone is a small West African country on the Atlantic coast. Sierra Leone, home to the worlds third largest natural harbor, was once a British colony and gained independence in 1961.

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.