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NGNJPY

$--
--%
1d
1w
1m

Analysis and statistics

  • Open
    0.0965$
  • Previous Close
    0.0965$
  • 52 Week Change
    --
  • Day Range
    0.00$
  • 52 Week High/Low
    --
  • Dividend Per Share
    --
  • Market cap
    --$
  • EPS
    --
  • Beta
    --
  • Volume
    --

About

NGNJPY.FOREX likely refers to the exchange rate between the Nigerian Naira (NGN) and the Japanese Yen (JPY) in the foreign exchange (forex) market. It represents the price of one Nigerian Naira in terms of Japanese Yen. This is a currency pair that is not commonly traded and is considered an exotic pair due to the Naira's limited convertibility and the lower trading volume compared to major currency pairs.
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Factors

Nigerian Economic Performance: Stronger Nigerian economic growth typically strengthens the NGN, potentially increasing NGNJPY.

Japanese Economic Performance: Robust Japanese economic data often strengthens the JPY, possibly decreasing NGNJPY.

Central Bank Policies: Interest rate decisions by the Central Bank of Nigeria and the Bank of Japan influence currency values.

Global Risk Sentiment: Risk-on sentiment may favor emerging market currencies like NGN, while risk-off sentiment boosts safe-haven currencies like JPY.

Commodity Prices: As a major oil exporter, Nigeria's currency is sensitive to oil price fluctuations, impacting NGNJPY.

Inflation Rates: Differences in inflation rates between Nigeria and Japan affect purchasing power parity and currency values.

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