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Ridotto to Nigerian Naira Converter and calculator

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Convert 1Ridotto (RDT) to Nigerian Naira (NGN) equals ₦ 8.92 | Bitget
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Last updated as of 2023/09/01 02:23:05 (UTC+0)Refreshrefresh
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Bitget converter offers real-time exchange rates, allowing for easy conversion of Ridotto(RDT) to Nigerian Naira(NGN). This is the real-time data. The current conversion shows 1 RDT at a value of 1 RDT for 8.92 NGN . Since crypto prices can change rapidly, we suggest checking back for the latest conversion result.

NGN information

About the Nigerian Naira (NGN)

What Is the Nigerian Naira (NGN)?

The Nigerian Naira is the official currency of Nigeria, a country in West Africa. The Naira is symbolized by ₦ and has the currency code NGN. One Naira is divided into 100 Kobo. As Africa's largest economy, Nigerian Naira plays a crucial role both domestically and in the African financial landscape. The Nigerian Naira is the sole legal tender in Nigeria, and it is used for all transactions within the country.

The Nigerian Naira is issued by the Central Bank of Nigeria (CBN), which is the sole issuer of legal tender money throughout the Federal Republic of Nigeria. The CBN is responsible for the design, production, and distribution of the currency, as well as for implementing monetary policy and maintaining the value of the Naira.

What Is the History of NGN?

The Nigerian Naira, introduced on January 1, 1973, marked a significant milestone in Nigeria's economic history, replacing the Nigerian pound at a rate of 2 Naira for 1 pound. This transition signified Nigeria's shift from the British pound sterling to a distinct and independent decimal currency system. The name 'Naira' was derived from 'Nigeria', symbolizing the nation's sovereignty in monetary matters. The initial series of banknotes and coins were the first to be issued by an independent Nigeria, with the coins being the last to feature Queen Elizabeth II, reflecting the country's colonial history.

Notes and Coins of NGN

The Nigerian Naira (NGN) comprises a variety of coins and banknotes, each with distinct values and designs. Coins in circulation include denominations of 50 Kobo, 1 Naira, and 2 Naira. Banknotes are issued in denominations of ₦5, ₦10, ₦20, ₦50, ₦100, ₦200, ₦500, and ₦1000.

What Is eNaira?

The eNaira is the first African central bank digital currency (CBDC). Launched on October 25, 2021, by President Muhammadu Buhari, the eNaira is issued and regulated by the Central Bank of Nigeria (CBN). It operates as a legal tender, just like physical Naira, but in a digital form, maintaining a one-to-one value with the traditional Naira. The eNaira aims to enhance financial inclusion, improve payment efficiency, and facilitate seamless cross-border transactions. It operates on a blockchain network, allowing peer-to-peer transactions without intermediaries, distinguishing itself from decentralized cryptocurrencies like Bitcoin by running on a private blockchain controlled by the CBN. Users access the eNaira through digital wallets, with transactions promising speed, reduced costs, and increased convenience.

Is NGN Pegged to GBP?

No, the Nigerian Naira (NGN) is not pegged to the British Pound Sterling (GBP). The Naira operates on a floating exchange rate system, where its value is determined by market forces based on supply and demand in the foreign exchange market.

Historically, Nigeria used the British Pound Sterling during its time as a British colony and for some years after gaining independence. However, in 1973, Nigeria introduced the Naira to replace the Pound Sterling and established its own monetary system. Since then, the Naira has not been pegged to the Pound Sterling or any other foreign currency but has been subject to fluctuations in the international currency markets.

Is NGN a Stable Currency?

The Nigerian Naira (NGN) has historically faced challenges regarding stability. The Naira had been experiencing significant fluctuations, largely due to factors such as political instability, economic challenges, and fluctuations in oil prices, which is a major revenue source for Nigeria. For instance, in 2021, the official exchange rate of the Naira to the US Dollar was around 380 NGN to 1 USD, while the parallel market rate was much higher, around 475 NGN to 1 USD. In June 2023, the Naira fell 23% in a day to a rate of ₦600 to US$1. This discrepancy indicates ongoing challenges in achieving currency stability.

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Bitget crypto-to-fiat exchange data shows that the most popular Ridotto currency pair is the RDT to NGN, with for Ridotto's currency code being RDT. Use our cryptocurrency calculator now to see how much your cryptocurrency can be exchanged for NGN.

RDT to NGN conversion rate trend

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In the past 1D, Ridotto has changed +1.09% to NGN. Based on the trend and price charts, Ridotto(RDT) has changed +1.09% to NGN while Nigerian Naira(NGN) has changed % to RDT in the last 24 hours.

RDT to NGN market statistics

RDT/NGN:
₦ 8.92
RDT 24h volume:
₦ 266,536,118.66
RDT market cap:
--
RDT circulating supply:
0 RDT

Current RDT to NGN exchange rate

Ridotto to Nigerian Naira is falling this week.
Ridotto's current market price is ₦ 8.92 per RDT, with a total market cap of ₦ 0 NGN based on a circulating supply of -- RDT. The trading volume of Ridotto has changed by +1.32% (₦ 3,476,594.67 NGN) in the last 24 hours. Last trading day, RDT's trading volume was ₦ 263,059,523.99.

RDT to NGN Conversion tables

The exchange rate of Ridotto is decreasing.
1 RDT is currently valued at ₦ 8.92 NGN , which means buying 5 RDT will cost ₦ 44.6 NGN . Similarly, ₦1 NGN can be traded for 0.1121 RDT, and ₦50 NGN can be converted to 5.61 RDT, excluding any platform or gas fees.
The exchange rate of 1 RDT to Nigerian Naira has changed by -4.93% in the last 7 days. In the last 24 hours, the rate has fluctuated by +1.09%, reaching a high of 8.92 NGN and a low of 8.8 NGN . One month ago, the value of 1 RDT was ₦ 12.45 NGN , which represents a -28.36% change from its current value. Over the last year, Ridotto has changed by
-
43.7NGN
, resulting in a change of -83.06% in its value.

RDT to NGN

Amount
18:04 today
0.5 RDT
4.46
1 RDT
8.92
5 RDT
44.6
10 RDT
89.19
50 RDT
445.95
100 RDT
891.9
500 RDT
4,459.52
1000 RDT
8,919.04

NGN to RDT

Amount18:04 today
0.5NGN0.05606  RDT
1NGN0.1121  RDT
5NGN0.5606  RDT
10NGN1.12  RDT
50NGN5.61  RDT
100NGN11.21  RDT
500NGN56.06  RDT
1000NGN112.12  RDT
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RDT to NGN Today vs. 24 hours ago

Amount18:04 today24 hours ago24h change
0.5 RDT₦4.46₦4.41
+1.09%
1 RDT₦8.92₦8.82
+1.09%
5 RDT₦44.6₦44.12
+1.09%
10 RDT₦89.19₦88.23
+1.09%
50 RDT₦445.95₦441.15
+1.09%
100 RDT₦891.9₦882.31
+1.09%
500 RDT₦4,459.52₦4,411.54
+1.09%
1000 RDT₦8,919.04₦8,823.09
+1.09%

RDT to NGN Today vs. 1 month ago

Amount18:04 today1 month ago1M change
0.5 RDT₦4.46₦6.22
-28.36%
1 RDT₦8.92₦12.45
-28.36%
5 RDT₦44.6₦62.23
-28.36%
10 RDT₦89.19₦124.46
-28.36%
50 RDT₦445.95₦622.31
-28.36%
100 RDT₦891.9₦1,244.62
-28.36%
500 RDT₦4,459.52₦6,223.11
-28.36%
1000 RDT₦8,919.04₦12,446.22
-28.36%

RDT to NGN Today vs. 1 year ago

Amount18:04 today1 year ago1Y change
0.5 RDT₦4.46₦26.31
-83.06%
1 RDT₦8.92₦52.62
-83.06%
5 RDT₦44.6₦263.1
-83.06%
10 RDT₦89.19₦526.21
-83.06%
50 RDT₦445.95₦2,631.03
-83.06%
100 RDT₦891.9₦5,262.06
-83.06%
500 RDT₦4,459.52₦26,310.31
-83.06%
1000 RDT₦8,919.04₦52,620.62
-83.06%

How to convert RDT to NGN

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Convert RDT to NGN
Use a variety of payment options to buy Ridotto on Bitget. We'll show you how.

Buy RDT (or USDT) for NGN (Nigerian Naira) offers

Bitget P2P trading does not currently support direct buying of RDT with NGN. However, you can buy USDT in Bitget P2P trading first, and then buy RDT with USDT via Bitget spot market.
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Sell RDT (or USDT) for NGN (Nigerian Naira) offers

Bitget P2P trading currently does not support direct selling of RDT to NGN. However, you can first exchange RDT for USDT in the Bitget spot market, and then sell USDT to USD in Bitget P2P trading.
Merchants (trades/completion rate)PriceAmount/limit
High to low
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What factors influence the conversion rate of RDT to NGN?

There are many factors that affect the relationship between Ridotto and Nigerian Naira, spanning multiple dimensions such as macroeconomic trends, policy regulation, and technological innovation. Specifically, the following key factors play an important role:
Market sentiment:Investor sentiment and confidence have a significant impact on the dynamics of RDT/NGN. When there is positive news in the market about the widespread adoption of RDT or major technological breakthroughs, it tends to trigger market optimism and drive the rise of RDT/NGN. Conversely, negative news, such as regulatory crackdowns and security vulnerabilities, may trigger market panic and lead to a decline in RDT/NGN.
Regulatory environment:Government policies and regulations surrounding cryptocurrencies have a direct impact on their acceptance, which in turn determines their value relative to traditional currencies such as the US dollar. Clear and supportive regulations can enhance investor confidence in cryptocurrencies and drive their value up. Conversely, vague or overly strict regulatory policies may hinder the development of cryptocurrencies and cause their value to fall.
Regulatory environment:Government policies and regulations surrounding cryptocurrencies have a direct impact on their acceptance, which in turn determines their value relative to traditional currencies such as the US dollar. Clear and supportive regulations can enhance investor confidence in cryptocurrencies and drive their value up. Conversely, vague or overly strict regulatory policies may hinder the development of cryptocurrencies and cause their value to fall.
Economic indicators:Macroeconomic factors in the country where the fiat currency is issued—such as inflation rates, interest rates, and key economic growth indicators—play a crucial role in determining the fiat currency's value and indirectly affect the exchange rate of RDT/NGN. For example, high inflation rates may lead to a decrease in market trust in fiat currencies, thereby increasing investors' demand for cryptocurrencies such as Bitcoin as a hedge, driving up their prices.
Technological progress:The continuous development and innovation of blockchain technology, as well as various improvements in the cryptocurrency ecosystem—such as expansion solutions and security enhancements—have provided strong support for the value growth of cryptocurrencies like Bitcoin.
Investors must understand these dynamics to avoid making wrong decisions. After considering these factors, investors should also closely monitor future changes in the price of Ridotto and adjust their investment strategies accordingly in the evolving market.

Ridotto price prediction

What will the price of RDT be in 2026?

Based on RDT's historical price performance prediction model, the price of RDT is projected to reach $0.005462 in 2026.

What will the price of RDT be in 2031?

In 2031, the RDT price is expected to change by +2.00%. By the end of 2031, the RDT price is projected to reach $0.007032, with a cumulative ROI of +23.61%.

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FAQ

What is a cryptocurrency calculator?

A cryptocurrency calculator enables users to convert various digital currencies into different world currencies according to the current exchange rate.

How does a cryptocurrency calculator work?

A cryptocurrency calculator fetches real-time values from digital currency exchange markets to convert between Ridotto and NGN.

How accurate is a cryptocurrency calculator?

Cryptocurrency calculators are generally highly accurate as they track real-time data from cryptocurrency markets, such as Ridotto and NGN. However, due to the high volatility of the cryptocurrency market, rates can fluctuate rapidly.

Can I trust the results of a cryptocurrency calculator?

While cryptocurrency calculators can provide a good starting point, remember that there might be slight differences in real-time trading due to factors such as time delay and trading platform discrepancies.

Can I use a cryptocurrency calculator for tax purposes?

Cryptocurrency calculators are useful for tax information, like coin values at given times. However, it's better to use tax-specific software or a professional for accurate reporting. Bitget Academy is a useful guide for cryptocurrency taxes, covering tax procedures, crypto transactions, effective planning, and different tax tools. Bitget prioritizes user experience, especially in optimizing tax management. With Advanced API and collaborations like Koinly, Bitget provides a smart, accessible platform for cryptocurrency trade and tax responsibilities.

Can a cryptocurrency calculator be used to convert one type of cryptocurrency to another?

If you want to know the value of Ridotto in NGN, cryptocurrency calculators can help you. But if you want to compare the worth of two different cryptocurrencies, you can use Bitget Convert. This tool simplifies the process of cryptocurrency conversion by allowing you to avoid multiple transactions or frequent transfers between wallets and exchanges. With Bitget Convert, you can seamlessly convert your cryptocurrencies in a user-friendly way.
This content is being provided to you for informational purposes only, does not constitute an offer, or solicitation of an offer nor a recommendation by Bitget to buy, sell, or hold any security, financial product, or instrument referenced in the content, and does not constitute investment advice, financial advice, trading advice, or any other sort of advice. Data presented may reflect asset prices traded on the Bitget exchange as well as other cryptocurrency exchanges and market data platforms. Bitget may charge fees for the processing of cryptocurrency transactions which may not be reflected in the conversion prices displayed. Bitget is not liable for any errors or delays in content or for any actions taken in reliance on any content.