Currency Pair PYG/NGN: An Overview

The currency pair PYG/NGN represents the exchange between the Paraguayan guaraní (PYG) and the Nigerian naira (NGN). Understanding these currencies and their exchange rates can be crucial for both investors and travelers planning to visit Paraguay or Nigeria.

Paraguayan Guaraní (PYG)

The Paraguayan guaraní is the official currency of Paraguay. It was introduced in 1944 and has since been the country's primary medium of exchange. The guaraní is divided into 100 céntimos, although céntimos coins are rarely used due to inflation affecting their value.

Economic Background

Paraguay's economy is heavily dependent on agriculture, with soybeans and beef being the main export commodities. The country's economic stability directly impacts the value of the guaraní.

Nigerian Naira (NGN)

The Nigerian naira is the official currency of Nigeria and was introduced in 1973, replacing the former Nigerian pound. The naira is divided into 100 kobo, and banknotes are available in various denominations.

Economic Background

Nigeria has one of Africa's largest economies and is one of the world's largest oil producers. However, the country's economy is diversified and includes agriculture, telecommunications, and the financial sector. The value of the naira is influenced by both domestic and international factors, including oil prices.

Conversion Between PYG and NGN

To convert between PYG and NGN, you can use our currency converter. Follow these simple steps:

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

Along with the conversion, a chart displaying historical figures for the currency pair PYG/NGN will be provided. This will help you gain a better understanding of the currencies' past performance and can be useful for making informed decisions.

Summary

Understanding the currency pair PYG/NGN is important for those involved in business or travel between Paraguay and Nigeria. Use our currency converter to easily and quickly convert between these currencies and access historical data to support your decisions.