AED to NGN

AED - United Arab Emirates Dirham (د.إ.‏)
NGN - Nigerian Naira ()
1 AED1 NGN

Currency conversion rates from AED to NGN

AEDNGN
1 AED1 NGN
5 AED5 NGN
10 AED10 NGN
20 AED20 NGN
50 AED50 NGN
100 AED100 NGN
250 AED250 NGN
500 AED500 NGN
1000 AED1000 NGN
2000 AED2000 NGN
5000 AED5000 NGN
10000 AED10000 NGN
NGNAED
1 NGN1 AED
5 NGN5 AED
10 NGN10 AED
20 NGN20 AED
50 NGN50 AED
100 NGN100 AED
250 NGN250 AED
500 NGN500 AED
1000 NGN1000 AED
2000 NGN2000 AED
5000 NGN5000 AED
10000 NGN10000 AED

AED - United Arab Emirates Dirham (د.إ)

The United Arab Emirates dirham is the currency of the United Arab Emirates. The dirham is abbreviated by the currency code AED, and its symbol is د.إ. Unofficial abbreviations include ‘Dhs’ and ‘DH’. The most popular AED exchange is with Indian rupees (INR to AED). The dirham is a fiat currency, and its conversion factor has 6 significant digits.

The Dirham (AED) is the currency of the United Arab Emirates. 1 Dirham = 100 fils. Exchange can be done at a bank, but is less costly at an exchange office. The United Arab Emirates Dirham was pegged to the IMF’s drawing rights in 1978. In 1997 the Dirham was pegged to the US Dollar at 1 USD = 3.6725 dirham.

The United Arab Emirates Dirham is the currency in United Arab Emirates (AE, ARE, UAE). The symbol for AED can be written Dh, and Dhs. The United Arab Emirates Dirham is divided into 100 fils. The exchange rate for the United Arab Emirates Dirham was last updated on Today from The International Monetary Fund. The AED conversion factor has 6 significant digits.

Economy

  • The United Arab Emirates is ranked second in the Corporation Council for the Arab States of the Gulf (CCASG).
  • Natural gas and petroleum exports play an important role in the economy.
  • The service sector is also an important source of income.
  • Construction forms a huge part of the economy; there is currently an average of $350 billion in construction projects.
  • The United Arab Emirates is part of the World Trade Organization.
  • Imports are machinery, manufactured goods, and transport equipment.
  • In 2009, 85% of exports were natural resources.
  • The United Arab Emirates has the fastest-growing economy in the world.

History

  • The original currency in the United Arab Emirates was the Bahraini Dinar.
  • Before 1966 the United Arab Emirates used the Gulf Rupee.
  • The United Arab Emirates dirham started circulating in December 1971. The dirham replaced the Dubai Riyal as well as the Qatar Riyal at par.
  • From 1973 to 1982 the United Arab Emirates issued the Dirham.
  • In 1976 the United Arab Emirates minted commemorative coins.
  • In the late 1980s a fixed rate was established between the Dirham and the USD.
  • 200-dirham denominations were produced only in 1989 and are scarce; however, the 200-dirham was re-introduced in May 2008 in a different color from the original.
  • In 1997 the Dirham was pegged to the US Dollar.

More information about AED - United Arab Emirates Dirham (د.إ)


NGN - Nigerian Naira ()

The naira is the currency of Nigeria. The currency code for nairas is NGN, and the currency symbol is ₦. The most popular naira exchange is NGN to USD, where one NGN is equal to approximately 0.003 USD (as of 2016). It is a fiat currency. The conversion factor for NGN has 4 significant digits.

The Naira is the official currency of Nigeria. The Naira is subdivided into 100 kobo. The Central Bank of Nigeria is the only bank with the authority to issue legal currency in the Federation. It manages the amount of currency in circulation to ensure its stability and value.

The Nigerian Naira is the currency in Nigeria (NG, NGA). The symbol for NGN can be written N. The Nigerian Naira is divided into 100 kobo. The exchange rate for the Nigerian Naira was last updated on May 24, 2019 from Yahoo Finance. The NGN conversion factor has 4 significant digits.

Economy

  • Nigeria is very rich in oil, but is politically unstable, with insufficient infrastructure, government corruption, and poor macroeconomic management.
  • The country depends on its oil sector, which accounts for one-fifth of the GDP, more than half of the total budget, and 95% of the trade.
  • Economic reforms were made as a result of signing an agreement with IMF at the Paris Club on August 2000 and a $1 billion credit from the IMF.
  • Because of Nigeria’s failure to meet target exchange rates and expenditure, it was terminated from the IMF program on April 2002.
  • The Nigerian government has showed political determination and has implemented reforms to become market-oriented, as advised by the IMF. The reforms included modernization, curbing inflation, reforming banking systems, and resolving disagreements in the oil industry.
  • In 2003, the Nigerian government announced the privatization of its oil refineries, changed its fuel prices, and organized the National Economic Empowerment Development Strategy, which resulted in an increase in the GDP in 2004.

History

  • The Naira currency was introduced in 1973, replacing the Pound at a rate of two Naira = one Pound.
  • In 2008, there was a plan to introduce a new Naira that would have the value of 100 old Naira, but the plan was abandoned.

More information about NGN - Nigerian Naira ()