Explore the Currency Pair NGN/MZN

The currency pair NGN/MZN represents the exchange rate between the Nigerian Naira (NGN) and the Mozambican Metical (MZN). These two currencies are important for the economies of Nigeria and Mozambique, and their exchange rates impact trade, investments, and economic stability in the region.

Nigerian Naira (NGN)

The Nigerian Naira (NGN) is the official currency of Nigeria, Africa's most populous country and one of the continent's largest economies. The Naira was introduced in 1973, replacing the former Nigerian Pound. The currency is issued by the Central Bank of Nigeria and is widely used in both domestic and international transactions.

Economic Significance

Nigeria is one of the world's largest oil producers, and the oil industry plays a crucial role in the country's economy. Fluctuations in oil prices can therefore have a significant impact on the value of the Naira. Additionally, the currency is influenced by political factors and economic reforms within the country.

Mozambican Metical (MZN)

The Mozambican Metical (MZN) is the official currency of Mozambique, a country located in southeastern Africa. The Metical was introduced in 1980, replacing the former Mozambican Escudo. The currency is issued by the Banco de Moçambique and is used in all types of economic transactions within the country.

Economic Significance

Mozambique has a diversified economy with strong sectors in agriculture, mining, and energy. Natural resources such as coal and natural gas are important export commodities that impact the value of the Metical. Political stability and economic reforms are also factors that influence the currency's exchange rate.

Convert Between NGN and MZN

On our website, you can easily convert between different currencies, including NGN and MZN. Follow these simple steps to perform a conversion:

Enter the amount you want to convert.
Select the base currency (NGN or MZN).
Choose the target currency (NGN or MZN).
The conversion will be done automatically, and you will receive the result instantly.

A chart with historical figures for the currency pair NGN/MZN is presented alongside the conversion, giving you a clear picture of how the exchange rate has changed over time.

Conclusion

Understanding the currency pair NGN/MZN is important for making informed economic decisions, especially for those involved in trade and investments in Nigeria and Mozambique. Use our currency converter to quickly and easily switch between different currencies and access historical data to better understand market trends.