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base info Stellar

Stellar to Nigerian Naira Converter and calculator

Convert 1Stellar (XLM) to Nigerian Naira (NGN) equals ₦ 148.57 | 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 Stellar(XLM) to Nigerian Naira(NGN). This is the real-time data. The current conversion shows 1 XLM at a value of 1 XLM for 148.57 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 Stellar currency pair is the XLM to NGN, with for Stellar's currency code being XLM. Use our cryptocurrency calculator now to see how much your cryptocurrency can be exchanged for NGN.

XLM to NGN conversion rate trend

1D7D1M3M1YAll
In the past 1D, Stellar has changed +1.68% to NGN. Based on the trend and price charts, Stellar(XLM) has changed +1.68% to NGN while Nigerian Naira(NGN) has changed % to XLM in the last 24 hours.

Conversion rate comparison of various exchanges

ExchangePriceMaker / Taker FeeTradable
Bitgethot-iconBest
₦148.79
0.0001% / 0.0004%vip-iconVIP
Binance
₦148.77
0.1000% / 0.1000%
Yes
Coinbase Exchange
₦149.8
0.1000% / 0.1000%
Yes
OKX
₦148.91
0.080% / 0.100%
Yes
Huobi
₦148.83
0.1000% / 0.1000%
Yes
Gate.io
₦148.74
0.1000% / 0.1000%
Yes
Bybit
₦148.88
0.1000% / 0.1000%
Yes
KuCoin
₦148.77
0.1000% / 0.1000%
Yes
Bitfinex
₦148.97
0.1000% / 0.1000%
Yes
Last updated 2024/04/21 10:00:33(UTC+0)

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

Stellar to Nigerian Naira is rising this week.
Stellar's current market price is ₦ 148.57 per XLM, with a total market cap of ₦ 4,295,306,997,940.51 NGN based on a circulating supply of 28,910,606,000 XLM. The trading volume of Stellar has changed by -16.55% (₦ -15,631,290,506.79 NGN) in the last 24 hours. Last trading day, XLM's trading volume was ₦ 94,457,446,335.26.
Market cap
$3.31B
24h volume
$60.78M
Circulating supply
28.91B XLM

Conversion tables

The exchange rate of Stellar is decreasing.
1 XLM is currently valued at ₦ 148.57 NGN , which means buying 5 XLM will cost ₦ 742.86 NGN . Similarly, ₦1 NGN can be traded for 0.006731 XLM, and ₦50 NGN can be converted to 0.3365 XLM, excluding any platform or gas fees.
The exchange rate of 1 XLM to Nigerian Naira has changed by +4.15% in the last 7 days. In the last 24 hours, the rate has fluctuated by +1.68%, reaching a high of 151.58 NGN and a low of 146.09 NGN . One month ago, the value of 1 XLM was ₦ 170.07 NGN , which represents a -12.64% change from its current value. Over the last year, Stellar has changed by
+
28.07NGN
, resulting in a change of +23.30% in its value.

XLM to NGN

Amount
10:28 am today
0.5 XLM
74.29
1 XLM
148.57
5 XLM
742.86
10 XLM
1,485.72
50 XLM
7,428.6
100 XLM
14,857.2
500 XLM
74,286.01
1000 XLM
148,572.02

NGN to XLM

Amount10:28 am today
0.5NGN0.003365  XLM
1NGN0.006731  XLM
5NGN0.03365  XLM
10NGN0.06731  XLM
50NGN0.3365  XLM
100NGN0.6731  XLM
500NGN3.37  XLM
1000NGN6.73  XLM
share

Today vs. 24 hours ago

Amount10:28 am today24 hours ago24h change
0.5 XLM$0.05728$0.05633
+1.68%
1 XLM$0.1146$0.1127
+1.68%
5 XLM$0.5728$0.5633
+1.68%
10 XLM$1.15$1.13
+1.68%
50 XLM$5.73$5.63
+1.68%
100 XLM$11.46$11.27
+1.68%
500 XLM$57.28$56.33
+1.68%
1000 XLM$114.55$112.66
+1.68%

Today vs. 1 month ago

Amount10:28 am today1 month ago1M change
0.5 XLM$0.05728$0.06556
-12.64%
1 XLM$0.1146$0.1311
-12.64%
5 XLM$0.5728$0.6556
-12.64%
10 XLM$1.15$1.31
-12.64%
50 XLM$5.73$6.56
-12.64%
100 XLM$11.46$13.11
-12.64%
500 XLM$57.28$65.56
-12.64%
1000 XLM$114.55$131.13
-12.64%

Today vs. 1 year ago

Amount10:28 am today1 year ago1Y change
0.5 XLM$0.05728$0.04645
+23.30%
1 XLM$0.1146$0.09291
+23.30%
5 XLM$0.5728$0.4645
+23.30%
10 XLM$1.15$0.9291
+23.30%
50 XLM$5.73$4.65
+23.30%
100 XLM$11.46$9.29
+23.30%
500 XLM$57.28$46.45
+23.30%
1000 XLM$114.55$92.91
+23.30%

FAQ

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