Historic Swiss franc Nigerian Naira

Swiss franc nigerian naira history for August 2023. The highest quote for this month is 896.7 (07/08/2023) and the lowest 881.54 (04/08/2023). The difference between high and low is 1.69.

CHF NGN average rate for August 2023 is 871.94792, the change between 01/08/2023 and 31/08/2023 is -0.98 %.

01 August 20231 CHF = 871.8 NGN
02 August 20231 CHF = 868.9 NGN
03 August 20231 CHF = 884.4 NGN
04 August 20231 CHF = 889.4 NGN
07 August 20231 CHF = 875.2 NGN
08 August 20231 CHF = 860.1 NGN
09 August 20231 CHF = 857.1 NGN
10 August 20231 CHF = 876.9 NGN
11 August 20231 CHF = 876.8 NGN
12 August 20231 CHF = 875.6 NGN
14 August 20231 CHF = 880.3 NGN
15 August 20231 CHF = 872.3 NGN
16 August 20231 CHF = 865.0 NGN
17 August 20231 CHF = 892.4 NGN
18 August 20231 CHF = 873.9 NGN
21 August 20231 CHF = 845.5 NGN
22 August 20231 CHF = 870.3 NGN
23 August 20231 CHF = 865.9 NGN
24 August 20231 CHF = 866.2 NGN
25 August 20231 CHF = 853.3 NGN
28 August 20231 CHF = 871.3 NGN
29 August 20231 CHF = 876.0 NGN
30 August 20231 CHF = 878.3 NGN
31 August 20231 CHF = 880.3 NGN

20/03/2020: Impact of COVID-19 Pandemic

The outbreak of the COVID-19 pandemic resulted in a significant decline in oil prices, affecting Nigeria's economy and putting pressure on the Naira's exchange rate.

20/06/2016: Adoption of Flexible Exchange Rate Policy

The Central Bank of Nigeria adopted a flexible exchange rate policy, allowing the Naira to float freely against other currencies based on market forces.

15/01/2015: Removal of Minimum Exchange Rate

The Swiss National Bank unexpectedly abandoned the minimum exchange rate, causing the Swiss franc (CHF) to surge in value.

06/09/2011: Implementation of Minimum Exchange Rate

The Swiss National Bank imposed a minimum exchange rate pegging the Swiss franc (CHF) to the Euro to prevent excessive appreciation.

13/09/1999: Introduction of Euro

Switzerland decided not to join the Eurozone and maintain the Swiss franc (CHF) as its official currency.

29/05/1999: Transition to Democratic Governance

Nigeria transitioned to democratic governance, leading to economic reforms and stability, positively affecting the value and management of the Naira currency.

12/06/1993: Introduction of the Third Nigerian Naira

The third Nigerian Naira (NGN) was introduced after the country's return to civilian rule following years of military regimes.

31/12/1984: Implementation of the Structural Adjustment Program

The Nigerian government implemented the Structural Adjustment Program, leading to a significant devaluation of the Naira and the adoption of a floating exchange rate.

01/07/1979: Adoption of the Second Nigerian Naira

The second Nigerian Naira (NGN) was introduced following the adoption of a new constitution and the country's transition to civilian rule.

01/07/1973: Introduction of decimal currency

The Nigerian Naira was introduced as the official currency of Nigeria, replacing the pound sterling with a decimal currency system.

08/05/1973: Floatation of Swiss Franc

Switzerland abandoned the fixed exchange rate system, allowing the Swiss franc (CHF) to float freely against other currencies.

01/05/1936: Introduction of Swiss National Bank

The Swiss National Bank was established as the central bank responsible for issuing and managing the Swiss franc (CHF).

24/11/1907: Gold Standard Referendum

Switzerland voted to adopt the gold standard, making the Swiss franc (CHF) fully convertible into gold.

06/06/1850: Currency Act of 1850

The Swiss franc (CHF) was introduced as the official currency of Switzerland.