Understanding the historical exchange rates between the Syrian Pound (SYP) and the Nigerian Naira (NGN) is essential for businesses, travelers, and individuals involved in international transactions. This article delves into the fluctuations of the SYP to NGN exchange rate, providing insights and tools to help you make informed decisions.
Understanding Exchange Rates
Currency pairs are traded throughout the day, and consequently, their values can fluctuate constantly.
The Mid-Market Rate
The mid-market rate, also known as the interbank rate, is the exchange rate at which banks and other financial institutions trade currencies among themselves. When converting SYP to NGN, understanding the mid-market rate is crucial to ensure you get the best possible exchange rate. The mid-market rate is constantly fluctuating due to market conditions, so staying up-to-date with the latest exchange rates is essential.
Factors Affecting the Exchange Rate
The best time to convert Syrian Pound to Nigerian Naira is determined by several factors: performing strongly (see historical chart), preferably good volatility. All of these indicators are on this page, (see wave-meter up there). The answer is at the beginning of the page, the exchange rate Syrian Pound v Nigerian Naira is updated hourly. SYPNGN is the short title by ISO 4217. Usually, this term use foreign exchange market, to indicate currency Syrian Pound against Nigerian Naira pair.
Historical Data and Analysis
As of 18:00 PM UTC today, one Syrian Pound equals ₦0.111 (Zero Naira 11 Kobos). The current exchange rate is 0.111. Nigerian Naira 🔻fell by -0.29% (-0.00033) against the Syrian Pound compared to the previous closing exchange rate. Alternatively, you may try converting Naira to Syrian Pound.
Read also: UAR History
A year ago, £1.00 would have been exchanged for ₦0.668, which is ₦0.557 higher than today’s rate. Over the past seven days, the most favorable exchange rate was ₦0.111.
SYP to NGN Exchange-Rate Statistics
Here's a summary of the exchange rate statistics over the last 7, 30, and 90 days:
How Exchange Rates Are Determined
| Statistic | Last 7 Days | Last 30 Days | Last 90 Days |
|---|---|---|---|
| High | 0.13172 | 0.13263 | 0.13263 |
| Low | 0.12890 | 0.11232 | 0.11232 |
| Average | 0.13055 | 0.12179 | 0.11831 |
| Volatility | 0.79% | 2.87% | 1.68% |
Currency Information
Learn more about the currencies involved:
Syrian Pound (SYP)
Our currency rankings show that the most popular Syrian Pound exchange rate is the SYP to USD rate. The currency code for Syrian Pounds is SYP. The currency symbol is £.
Nigerian Naira (NGN)
Our currency rankings show that the most popular Nigerian Naira exchange rate is the NGN to USD rate. The currency code for Nigerian Nairas is NGN. The currency symbol is ₦.
Read also: A Look at the Egypt-Syria Alliance
Tools and Resources
Take advantage of these tools to stay informed and manage your currency conversions effectively:
- Xe Currency Charts: Create a chart for any currency pair in the world to see their currency history. These currency charts use live mid-market rates, are easy to use, and are very reliable.
- Xe Rate Alerts: Need to know when a currency hits a specific rate? The Xe Rate Alerts will let you know when the rate you need is triggered on your selected currency pairs.
- Xe App: Check live rates, send money securely, set rate alerts, receive notifications and more. Over 113 million downloads worldwide.
Important Considerations
When converting SYP to NGN online, ensuring the security of your transactions is paramount. Look for service providers that use robust security measures, such as encryption and two-factor authentication, to protect your personal and financial information.
Read also: Real-Time MAD/GBP Data
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