Historic Nigerian Naira South African rand

Nigerian Naira south african rand history for February 2024. The highest quote for this month is 0.015724 (01/02/2024) and the lowest 0.01557 (01/02/2024). The difference between high and low is 0.98.

NGN ZAR average rate for February 2024 is 0.013, the change between 01/02/2024 and 29/02/2024 is +24.24 %.

01 February 20241 NGN = 0.0156 ZAR
02 February 20241 NGN = 0.0156 ZAR
03 February 20241 NGN = 0.0134 ZAR
04 February 20241 NGN = 0.0134 ZAR
05 February 20241 NGN = 0.0158 ZAR
06 February 20241 NGN = 0.0136 ZAR
07 February 20241 NGN = 0.0134 ZAR
08 February 20241 NGN = 0.0133 ZAR
09 February 20241 NGN = 0.0135 ZAR
12 February 20241 NGN = 0.0129 ZAR
13 February 20241 NGN = 0.0126 ZAR
14 February 20241 NGN = 0.0126 ZAR
15 February 20241 NGN = 0.0126 ZAR
16 February 20241 NGN = 0.0125 ZAR
17 February 20241 NGN = 0.0126 ZAR
18 February 20241 NGN = 0.0126 ZAR
19 February 20241 NGN = 0.0126 ZAR
20 February 20241 NGN = 0.0127 ZAR
21 February 20241 NGN = 0.0118 ZAR
22 February 20241 NGN = 0.0118 ZAR
23 February 20241 NGN = 0.0119 ZAR
24 February 20241 NGN = 0.0130 ZAR
25 February 20241 NGN = 0.0130 ZAR
26 February 20241 NGN = 0.0120 ZAR
27 February 20241 NGN = 0.0124 ZAR
28 February 20241 NGN = 0.0121 ZAR
29 February 20241 NGN = 0.0118 ZAR

23/03/2020: COVID-19 Pandemic Impact

The rand experienced significant volatility and depreciation as a result of the COVID-19 pandemic, affecting the country's economy and trade balance.

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.

15/12/2008: Global Financial Crisis Impact

The rand plunged against major currencies due to the global financial crisis and concerns about South Africa's economic stability.

09/11/2001: Rand Weakens to Record Low

The rand weakened to an all-time low against the US dollar, due to global economic uncertainty and domestic political concerns.

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.

01/01/1995: Establishment of Reserve Bank Independence

The South African Reserve Bank gained independence, allowing it to have more control over monetary policy.

27/04/1994: First Democratic Elections

The first democratic elections were held in South Africa, marking the end of apartheid and bringing political stability, positively affecting the rand's value.

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.

01/08/1982: Currency Decimalization

The rand was decimalized, with 1 rand being equal to 100 cents.

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.

14/09/1961: Introduction of the Rand

The South African rand was introduced as the official currency, replacing the South African pound.
NGN ZAR July 2023
NGN ZAR August 2023
NGN ZAR September 2023
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NGN ZAR November 2023
NGN ZAR December 2023
NGN ZAR January 2024
NGN ZAR February 2024
NGN ZAR March 2024
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NGN ZAR June 2024
NGN ZAR July 2024