This article explores the historical exchange rates between the Nigerian Naira (NGN) and the Mexican Peso (MXN), providing insights into the factors that influence these rates and offering tools for currency conversion and analysis.
Historical Exchange Rates: NGN to MXN
Understanding the historical exchange rates between the NGN and MXN is crucial for businesses, travelers, and individuals involved in international transactions. This page contains detailed daily historical exchange rates between NGN and MXN from 2025-3-8 to 2025-11-06, making it easy to look up and reference.
Here's a glimpse of the exchange rate trends:
- 1 NGN = 0.012722 MXN (02:31 Exchange Rate)
- Historical Exchange Rate Trends: 1 NGN = -- MXN (02:31 Exchange Rate)
Data Statistics
This section organizes the historical exchange rate data of 1 NGN to MXN, including daily data over the past 1 day, 15 days, 30 days, and 90 days. It also marks the highest, lowest, and average rates during each period, helping you easily understand how the exchange rate has changed over time, which is useful for currency exchange, transfers, or investment decisions.
Past Exchange Rates:
Read also: A Look at MXN to ZAR
| Period | High | Low | Average |
|---|---|---|---|
| Past 1 Day | 0.012722 | 0.012722 | 0.012722 |
| Past 15 Days | 0.0128912 | 0.0123725 | 0.0125672 |
| Past 30 Days | 0.0128912 | 0.0122905 | 0.0124893 |
| Past 90 Days | 0.0128912 | 0.0120344 | 0.0123262 |
Below are the daily average exchange rates of NGN to MXN for the past 7 days, helping you track the trend during this period. We also provide exchange rate changes of MXN to NGN, helping you understand fluctuations from different perspectives and better plan your currency exchange, transfers, or fund management.
Past 7 days historical exchange rates NGN to MXN and MXN to NGN
NGN to MXN
- 2025-11-06
- 2025-11-05
- 2025-11-04
- 2025-11-03
- 2025-11-02
- 2025-11-01
- 2025-10-31
MXN to NGN
- 2025-11-06
- 2025-11-05
- 2025-11-04
- 2025-11-03
- 2025-11-02
- 2025-11-01
- 2025-10-31
Understanding the Nigerian Naira (NGN)
The Nigerian Naira (NGN) stands as the official currency of Nigeria, playing a vital role in the nation’s financial ecosystem. The naira was introduced in 1973 as a replacement for the Nigerian pound. The NGN plays a central role in Africa's largest economy, supporting a diversified economy, particularly the oil and agriculture industries.
Key characteristics of the NGN:
Read also: Current USD/NGN Value
- Main unit: Naira
- ISO code: NGN
- Currency symbol: ₦
- Exchange Rate System: Regulated floating exchange rate system
- Central Bank: Central Bank of Nigeria
- Countries of Use: Nigeria is the only country where it is used officially.
Understanding the Mexican Peso (MXN)
The Mexican Peso was officially launched in 1863 and is one of the most influential currencies in Latin America. The MXN is widely used in domestic and international trade and is an important pillar of Mexico's economic stability and growth.
Key characteristics of the MXN:
- Main unit: 1 Peso
- ISO code: MXN
- Currency symbol: $ or Mex$
- Exchange Rate System: Freely floating exchange rate system
- Central Bank: Bank of Mexico
- Countries of Use: Mexico is the only country where Spanish is officially used, and in some border areas, both the dollar and the peso are in circulation.
Why Different Currencies Have Different Values?
Factors Influencing Exchange Rates
Currency exchange rates fluctuate mainly due to a combination of factors, including global economic activity, market sentiment, interest rate changes, inflation, trade imbalances, and central bank monetary policies. For example, when a country has a strong economy and rising interest rates, it may attract more foreign capital, pushing up the value of its currency. Conversely, political instability or economic slowdown may lead to currency depreciation. Changes in market expectations and speculative activities can also intensify short-term exchange rate fluctuations.
Tools for Currency Conversion
To exchange one currency for another, simply input your amount into our user-friendly currency converter. It does the math using the latest exchange rates. After you select PHP and NGN in the exchange box and enter an amount, the Philippine peso to Nigerian naira exchange rate will automatically appear for your reference.
Users simply enter the amount (e.g., 25,000) into the online currency converter, then select the source currency (PHP) and target currency (NGN) from the dropdown menus. No need to click anything else - the system will automatically calculate and display the real-time exchange rate result for 25,000Philippine peso to Nigerian naira. It also provides AI-based analysis, historical rate trends, and exchange rate comparisons from different data sources to help users better understand the conversion and make informed decisions.
Read also: Exchange Rate Analysis
Cross-Border Payments
You can make convenient cross-border payments via international wire transfer. Currently, you can also make cross-border payments through XTransfer, where we offer more convenient and secure international cross-border payment services, especially when transferring funds to companies in China.
When conducting cross-border transactions, pay attention to real-time rates, the bid-ask spread, settlement fees, etc. Especially for large payments, even small differences in the NGN to MXN exchange rate can result in substantial changes in actual amounts.
Different banks or payment platforms use various pricing mechanisms. Some use mid-market rates; others add wider spreads, fees, and settlement times. By examining the recent fluctuations in the exchange rate between NGN and MXN, you can determine whether the current exchange rate is high or low, helping you decide whether to immediately remit, lock up the exchange, or delay the transaction to obtain a better price.
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