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Nigerian Naira

   

Nigeria - Naira

1 naira = 100 kobo

International designation: NGN

Denomination banknotes in circulation: 50, 100, 200, 500

Value of coins in circulation: 25, 50, 100

History

The country currency has evolved very slowly, maybe that's why the country's underdeveloped economy. But now the country began to develop intensively and perhaps that is why the country's currency in the near future will also be modified.

But it is necessary to tell everything in order.

Naturally the first money in the country were a coin, and it should be said that they were quite interesting and original are made. Yet there have been walking and many foreign currencies, which were at that time the only national monetary system.

But this could not arrange the national government, and so began to carry out work on the development of the monetary system.

The time to development has been spent not a lot as well, and of currency, which appeared in the country, characterized by poor performance and quality, and therefore existed for a short time.

In this disaster the country is not over, after some time it was again issued currency that was much better than the previous one, but it was waiting for the defeat, inflation in the country has currency in a very deplorable situation.

Thus, there was no choice but to use the currency of another country, the decision was made and a contract was signed.

Nevertheless, the intensive development of tourism has helped the country to create its own currency, although it was not ideal.

There appeared currency naira, it has become very popular and widely used, and the law of the country banned the import and export of currency.

Features

Currency has a number of features, but it's worth pointing out that the monetary system itself is underdeveloped and does not have much popularity outside the country.

Making quite a classic, that is, on the obverse is an image of a politician. But on the other side you can admire the sights and cultural values.

The colors used quite bright, but it may mene they were not overlapping with the shades and create the impression of painted paper.

It should say at once that the currency is no different other. But the minimum value of the currency specified on both sides, as well as it can be distinguished by size.

Deserves special attention system of safety features, which makes the currency a very safe and virtually no activity was subject to fraud.

Additionally

The country has a huge tourism business development, in general, it is worth noting that only through the development of the activity start correctly and more intensive development of the monetary system.

Currently, the currency does not have much stamina, but it is still very revered and respected in the country, in addition, so it should be noted that it was quoted at a certain time in the world financial market.

Rather widespread fraud, especially when using foreign currencies, so it is recommended to exchange some money in advance of naira in small denominations for everyday use.