Russian ruble nigerian naira history for August 2023. The highest quote for this month is 8.3631 (01/08/2023) and the lowest 8.2958 (01/08/2023). The difference between high and low is 0.8.
RUB NGN average rate for August 2023 is 8.01372, the change between 01/08/2023 and 31/08/2023 is +3.19 %.
| 01 August 2023 | 1 RUB = 8.29 NGN |
| 02 August 2023 | 1 RUB = 8.21 NGN |
| 03 August 2023 | 1 RUB = 8.25 NGN |
| 04 August 2023 | 1 RUB = 8.19 NGN |
| 07 August 2023 | 1 RUB = 7.98 NGN |
| 08 August 2023 | 1 RUB = 7.84 NGN |
| 09 August 2023 | 1 RUB = 7.72 NGN |
| 10 August 2023 | 1 RUB = 7.94 NGN |
| 11 August 2023 | 1 RUB = 7.93 NGN |
| 12 August 2023 | 1 RUB = 7.79 NGN |
| 14 August 2023 | 1 RUB = 7.72 NGN |
| 15 August 2023 | 1 RUB = 7.90 NGN |
| 16 August 2023 | 1 RUB = 7.72 NGN |
| 17 August 2023 | 1 RUB = 8.31 NGN |
| 18 August 2023 | 1 RUB = 8.12 NGN |
| 19 August 2023 | 1 RUB = 7.95 NGN |
| 20 August 2023 | 1 RUB = 8.01 NGN |
| 21 August 2023 | 1 RUB = 7.84 NGN |
| 22 August 2023 | 1 RUB = 8.18 NGN |
| 23 August 2023 | 1 RUB = 8.06 NGN |
| 24 August 2023 | 1 RUB = 8.00 NGN |
| 25 August 2023 | 1 RUB = 7.99 NGN |
| 28 August 2023 | 1 RUB = 8.07 NGN |
| 29 August 2023 | 1 RUB = 8.19 NGN |
| 30 August 2023 | 1 RUB = 8.09 NGN |
| 31 August 2023 | 1 RUB = 8.03 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.
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.