Convert Chinese Yuan to Nigerian Naira
Convert Chinese Yuan (CNY) to Nigerian Naira (NGN) using daily updated exchange rates.
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Exchange Rate
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About Chinese Yuan
The Chinese Yuan (CNY), also known as the Renminbi (RMB, meaning "people's currency"), is the official currency of the People's Republic of China. Introduced in 1949 when the People's Republic was founded, it replaced multiple currencies issued by various warlords and governments. The People's Bank of China manages monetary policy using a managed floating exchange rate with reference to a basket of currencies. The yuan became an IMF Special Drawing Rights (SDR) reserve currency in 2016, recognising China's role as the world's second largest economy.
About Nigerian Naira
The Nigerian Naira (NGN) is the official currency of Nigeria, Africa's most populous country and largest economy by GDP. Introduced in 1973 to replace the Nigerian pound, the naira has experienced severe long-term depreciation relative to major currencies. The Central Bank of Nigeria (CBN) manages monetary policy. Nigeria is a major oil producer - crude oil and natural gas account for the vast majority of government revenues and export earnings. The economy has faced structural challenges including dependence on oil, inflation, currency shortages, and foreign exchange controls.
Quick Reference Table
| Chinese Yuan (CNY) | Nigerian Naira (NGN) |
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Exchange rates are updated daily and provided for informational purposes only. Not suitable for financial transactions. Source: fawazahmed0/exchange-api (MIT license).