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Speedy to Nigerian Naira Converter and calculator

Convert 1Speedy (SPEEDY) to Nigerian Naira (NGN) equals ₦ 0.004999 | Bitget
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Last updated 2023/09/01 02:23:05 (UTC+0)Refreshrefresh
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Bitget converter offers real-time exchange rates, allowing for easy conversion of Speedy(SPEEDY) to Nigerian Naira(NGN). This is the real-time data. The current conversion shows 1 SPEEDY at a value of 1 SPEEDY for 0.00 NGN . Since crypto prices can change rapidly, we suggest checking back for the latest conversion result.

NGN information

About the Nigerian Naira (NGN)

What Is the Nigerian Naira (NGN)?

The Nigerian Naira is the official currency of Nigeria, a country in West Africa. The Naira is symbolized by ₦ and has the currency code NGN. One Naira is divided into 100 Kobo. As Africa's largest economy, Nigerian Naira plays a crucial role both domestically and in the African financial landscape. The Nigerian Naira is the sole legal tender in Nigeria, and it is used for all transactions within the country.

The Nigerian Naira is issued by the Central Bank of Nigeria (CBN), which is the sole issuer of legal tender money throughout the Federal Republic of Nigeria. The CBN is responsible for the design, production, and distribution of the currency, as well as for implementing monetary policy and maintaining the value of the Naira.

What Is the History of NGN?

The Nigerian Naira, introduced on January 1, 1973, marked a significant milestone in Nigeria's economic history, replacing the Nigerian pound at a rate of 2 Naira for 1 pound. This transition signified Nigeria's shift from the British pound sterling to a distinct and independent decimal currency system. The name 'Naira' was derived from 'Nigeria', symbolizing the nation's sovereignty in monetary matters. The initial series of banknotes and coins were the first to be issued by an independent Nigeria, with the coins being the last to feature Queen Elizabeth II, reflecting the country's colonial history.

Notes and Coins of NGN

The Nigerian Naira (NGN) comprises a variety of coins and banknotes, each with distinct values and designs. Coins in circulation include denominations of 50 Kobo, 1 Naira, and 2 Naira. Banknotes are issued in denominations of ₦5, ₦10, ₦20, ₦50, ₦100, ₦200, ₦500, and ₦1000.

What Is eNaira?

The eNaira is the first African central bank digital currency (CBDC). Launched on October 25, 2021, by President Muhammadu Buhari, the eNaira is issued and regulated by the Central Bank of Nigeria (CBN). It operates as a legal tender, just like physical Naira, but in a digital form, maintaining a one-to-one value with the traditional Naira. The eNaira aims to enhance financial inclusion, improve payment efficiency, and facilitate seamless cross-border transactions. It operates on a blockchain network, allowing peer-to-peer transactions without intermediaries, distinguishing itself from decentralized cryptocurrencies like Bitcoin by running on a private blockchain controlled by the CBN. Users access the eNaira through digital wallets, with transactions promising speed, reduced costs, and increased convenience.

Is NGN Pegged to GBP?

No, the Nigerian Naira (NGN) is not pegged to the British Pound Sterling (GBP). The Naira operates on a floating exchange rate system, where its value is determined by market forces based on supply and demand in the foreign exchange market.

Historically, Nigeria used the British Pound Sterling during its time as a British colony and for some years after gaining independence. However, in 1973, Nigeria introduced the Naira to replace the Pound Sterling and established its own monetary system. Since then, the Naira has not been pegged to the Pound Sterling or any other foreign currency but has been subject to fluctuations in the international currency markets.

Is NGN a Stable Currency?

The Nigerian Naira (NGN) has historically faced challenges regarding stability. The Naira had been experiencing significant fluctuations, largely due to factors such as political instability, economic challenges, and fluctuations in oil prices, which is a major revenue source for Nigeria. For instance, in 2021, the official exchange rate of the Naira to the US Dollar was around 380 NGN to 1 USD, while the parallel market rate was much higher, around 475 NGN to 1 USD. In June 2023, the Naira fell 23% in a day to a rate of ₦600 to US$1. This discrepancy indicates ongoing challenges in achieving currency stability.

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Bitget crypto-to-fiat exchange data shows that the most popular Speedy currency pair is the SPEEDY to NGN, with for Speedy's currency code being SPEEDY. Use our cryptocurrency calculator now to see how much your cryptocurrency can be exchanged for NGN.

SPEEDY to NGN conversion rate trend

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In the past 1D, Speedy has changed -9.55% to NGN. Based on the trend and price charts, Speedy(SPEEDY) has changed -9.55% to NGN while Nigerian Naira(NGN) has changed % to SPEEDY in the last 24 hours.

Conversion rate comparison of various exchanges

ExchangePriceMaker / Taker FeeTradable
Bitgethot-iconBest
₦0.004999
0.0001% / 0.0004%vip-iconVIP
Last updated 2024/05/27 03:34:08(UTC+0)

How to buy Speedy

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What factors influence the conversion rate of Speedy to Nigerian Naira?

Speedy to Nigerian Naira is falling this week.
Speedy's current market price is ₦ 0.004999 per SPEEDY, with a total market cap of ₦ 0 NGN based on a circulating supply of -- SPEEDY. The trading volume of Speedy has changed by -51.21% (₦ -215,572,941.36 NGN) in the last 24 hours. Last trading day, SPEEDY's trading volume was ₦ 420,997,321.3.
Market cap
$0
24h volume
$139.92K
Circulating supply
0 SPEEDY

Conversion tables

The exchange rate of Speedy is decreasing.
1 SPEEDY is currently valued at ₦ 0.004999 NGN , which means buying 5 SPEEDY will cost ₦ 0.02499 NGN . Similarly, ₦1 NGN can be traded for 200.05 SPEEDY, and ₦50 NGN can be converted to 10,002.59 SPEEDY, excluding any platform or gas fees.
The exchange rate of 1 SPEEDY to Nigerian Naira has changed by -13.15% in the last 7 days. In the last 24 hours, the rate has fluctuated by -9.55%, reaching a high of 0.005596 NGN and a low of 0.004732 NGN . One month ago, the value of 1 SPEEDY was ₦ 0.01044 NGN , which represents a -52.10% change from its current value. Over the last year, Speedy has changed by
+
0.004999NGN
, resulting in a change of --% in its value.

SPEEDY to NGN

Amount
03:34 am today
0.5 SPEEDY
0.002499
1 SPEEDY
0.004999
5 SPEEDY
0.02499
10 SPEEDY
0.04999
50 SPEEDY
0.2499
100 SPEEDY
0.4999
500 SPEEDY
2.5
1000 SPEEDY
5

NGN to SPEEDY

Amount03:34 am today
0.5NGN100.03  SPEEDY
1NGN200.05  SPEEDY
5NGN1,000.26  SPEEDY
10NGN2,000.52  SPEEDY
50NGN10,002.59  SPEEDY
100NGN20,005.19  SPEEDY
500NGN100,025.94  SPEEDY
1000NGN200,051.89  SPEEDY
Buy Speedy for 1 NGN
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Today vs. 24 hours ago

Amount03:34 am today24 hours ago24h change
0.5 SPEEDY$0.{5}1702$0.{5}1882
-9.55%
1 SPEEDY$0.{5}3405$0.{5}3764
-9.55%
5 SPEEDY$0.{4}1702$0.{4}1882
-9.55%
10 SPEEDY$0.{4}3405$0.{4}3764
-9.55%
50 SPEEDY$0.0001702$0.0001882
-9.55%
100 SPEEDY$0.0003405$0.0003764
-9.55%
500 SPEEDY$0.001702$0.001882
-9.55%
1000 SPEEDY$0.003405$0.003764
-9.55%

Today vs. 1 month ago

Amount03:34 am today1 month ago1M change
0.5 SPEEDY$0.{5}1702$0.{5}3554
-52.10%
1 SPEEDY$0.{5}3405$0.{5}7108
-52.10%
5 SPEEDY$0.{4}1702$0.{4}3554
-52.10%
10 SPEEDY$0.{4}3405$0.{4}7108
-52.10%
50 SPEEDY$0.0001702$0.0003554
-52.10%
100 SPEEDY$0.0003405$0.0007108
-52.10%
500 SPEEDY$0.001702$0.003554
-52.10%
1000 SPEEDY$0.003405$0.007108
-52.10%
Buy Speedy for 1 NGN
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Today vs. 1 year ago

Amount03:34 am today1 year ago1Y change
0.5 SPEEDY$0.{5}1702$0.00
--
1 SPEEDY$0.{5}3405$0.00
--
5 SPEEDY$0.{4}1702$0.00
--
10 SPEEDY$0.{4}3405$0.00
--
50 SPEEDY$0.0001702$0.00
--
100 SPEEDY$0.0003405$0.00
--
500 SPEEDY$0.001702$0.00
--
1000 SPEEDY$0.003405$0.00
--

Speedy price prediction

What will the price of SPEEDY be in 2025?

Based on SPEEDY's historical price performance prediction model, the price of SPEEDY is projected to reach -- in 2025.

What will the price of SPEEDY be in 2030?

In 2030, the SPEEDY price is expected to rise by +7.00%. By the end of 2030, the SPEEDY price is projected to reach --, with a cumulative ROI of 0.00%.
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Buy Speedy for 1 NGN
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Buy Speedy for 1 NGN
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This content is being provided to you for informational purposes only, does not constitute an offer, or solicitation of an offer nor a recommendation by Bitget to buy, sell, or hold any security, financial product, or instrument referenced in the content, and does not constitute investment advice, financial advice, trading advice, or any other sort of advice. Data presented may reflect asset prices traded on the Bitget exchange as well as other cryptocurrency exchanges and market data platforms. Bitget may charge fees for the processing of cryptocurrency transactions which may not be reflected in the conversion prices displayed. Bitget is not liable for any errors or delays in content or for any actions taken in reliance on any content.