Russian ruble nigerian naira history for July 2023. The highest quote for this month is 8.7771 (26/07/2023) and the lowest 8.7712 (25/07/2023). The difference between high and low is 0.07.
RUB NGN average rate for July 2023 is 8.61404, the change between 01/07/2023 and 31/07/2023 is +2.94 %.
| 03 July 2023 | 1 RUB = 8.64 NGN |
| 04 July 2023 | 1 RUB = 8.61 NGN |
| 05 July 2023 | 1 RUB = 8.57 NGN |
| 06 July 2023 | 1 RUB = 8.47 NGN |
| 07 July 2023 | 1 RUB = 8.49 NGN |
| 10 July 2023 | 1 RUB = 8.35 NGN |
| 11 July 2023 | 1 RUB = 8.70 NGN |
| 12 July 2023 | 1 RUB = 8.62 NGN |
| 13 July 2023 | 1 RUB = 8.58 NGN |
| 14 July 2023 | 1 RUB = 8.62 NGN |
| 17 July 2023 | 1 RUB = 8.60 NGN |
| 18 July 2023 | 1 RUB = 8.58 NGN |
| 19 July 2023 | 1 RUB = 8.67 NGN |
| 20 July 2023 | 1 RUB = 8.61 NGN |
| 21 July 2023 | 1 RUB = 8.78 NGN |
| 24 July 2023 | 1 RUB = 8.75 NGN |
| 25 July 2023 | 1 RUB = 8.77 NGN |
| 26 July 2023 | 1 RUB = 8.79 NGN |
| 27 July 2023 | 1 RUB = 8.76 NGN |
| 28 July 2023 | 1 RUB = 8.55 NGN |
| 31 July 2023 | 1 RUB = 8.39 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.