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FRED to NGN Converter and calculator

FRED/NGN: 1 FRED = 1.37 NGN. The price of converting 1 FRED Energy (FRED) to Nigerian Naira (NGN) is 1.37 NGN today.
FRED
FRED
NGN
Last updated as of 2023/09/01 02:23:05 (UTC+0)Refreshrefresh
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Bitget converter provides FRED to NGN real-time exchange rates, making it easy to convert FRED Energy (FRED) to Nigerian Naira (NGN). The conversion result is based on real-time data. The conversion result shows that 1 FRED is currently valued at 1.37 NGN. Since crypto prices can change rapidly, we recommend checking back for the conversion result.
1 FRED is currently valued at 1.37 NGN, which means buying 5 FRED would cost 6.83 NGN. Similarly, ₦1 NGN can be converted to 0.7319 FRED, and ₦50 NGN can be converted to 3.66 FRED, excluding any platform or gas fees.

Convert FRED to NGN

Convert NGN to FRED

FRED Energy
Nigerian Naira
1000 FRED
1,366.29  NGN
5000 FRED
6,831.46  NGN
10000 FRED
13,662.91  NGN
In the table above, you'll find a comprehensive FRED to NGN converter that shows the value of FRED Energy in Nigerian Naira across commonly used conversion amounts. The list covers conversions from 1 FRED to NGN, all the way up to 10000 FRED, providing a clear view of their respective values.
Nigerian Naira
FRED Energy
10000 NGN
7,319.08 FRED
50000 NGN
36,595.41 FRED
100000 NGN
73,190.83 FRED
In the table above, you'll find a comprehensive NGN to FRED converter that shows the value of Nigerian Naira in FRED Energy across commonly used conversion amounts. The list covers conversions from 1 NGN to FRED, all the way up to 100000 NGN, providing a clear view of their respective values.

FRED to NGN chart

FRED/NGN: 1 FRED = 1.37 NGN; 2025/04/30 21:27:28
In the past 1D, FRED Energy has changed +12.27% to NGN. Based on the trend and price charts, FRED Energy(FRED) has changed +12.27% to NGN while Nigerian Naira(NGN) has changed % to FRED in the last 24 hours.
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FRED to NGN conversion data: Volatility and price changes of FRED Energy in NGN

The highest FRED Energy price in NGN over the past 7 days was 1.38 NGN while the lowest FRED Energy price in NGN over the past 7 days was 1.18 NGN. The relative change between the highs and lows in FRED Energy price in NGN over the last 7 days indicates a volatility of %. You can view additional volatility data and FRED to NGN prices for the past 24 hours, 30 days, and 90 days in the table above.
Last 24 hoursLast 7 daysLast 30 daysLast 90 days
High
1.37 NGN
1.38 NGN
1.38 NGN
2.38 NGN
Low
1.2 NGN
1.18 NGN
0.9582 NGN
0.9582 NGN
Average
0 NGN
0 NGN
0 NGN
0 NGN
Volatility
%
%
%
%
Change
+12.27%
+0.67%
+28.82%
-37.61%

FRED Energy information

FRED to NGN market statistics

FRED/NGN:
₦1.37
FRED 24h volume:
--
FRED market cap:
--
FRED circulating supply:
0 FRED

Current FRED to NGN exchange rate

FRED Energy to Nigerian Naira is rising this week.
FRED Energy's current market price is ₦1.37 per FRED, with a total market cap of ₦0 NGN based on a circulating supply of -- FRED. The trading volume of FRED Energy has changed by 0.00% (₦0 NGN) in the last 24 hours. Last trading day, FRED's trading volume was ₦0.

More info about FRED Energy on Bitget

Nigerian Naira 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.

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

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How to convert FRED to NGN

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FRED to NGN Conversion tables

The exchange rate of FRED Energy is increasing.
The exchange rate of 1 FRED to Nigerian Naira has changed by +0.67% in the last 7 days. In the last 24 hours, the rate has fluctuated by +12.27%, reaching a high of 1.37 NGN and a low of 1.2 NGN . One month ago, the value of 1 FRED was ₦1.06 NGN , which represents a +28.82% change from its current value. Over the last year, FRED Energy has changed by
-
0.1624NGN
, resulting in a change of -10.64% in its value.
24 hours ago1 month ago1 year ago
Amount21:27 today24 hours ago24h change
0.5 FRED₦0.6831₦0.6086
+12.27%
1 FRED₦1.37₦1.22
+12.27%
5 FRED₦6.83₦6.09
+12.27%
10 FRED₦13.66₦12.17
+12.27%
50 FRED₦68.31₦60.86
+12.27%
100 FRED₦136.63₦121.72
+12.27%
500 FRED₦683.15₦608.6
+12.27%
1000 FRED₦1,366.29₦1,217.19
+12.27%

FRED to NGN FAQ

How much is 1 FRED Energy in NGN?
Right now, the price of 1 FRED Energy (FRED) in Nigerian Naira (NGN) is ₦1.37.
How much FRED can I buy for 1 NGN?
Based on the current exchange rate, you can get 0.7319 FRED for 1 NGN.
How do I calculate or convert FRED to NGN?
You can use our FRED to NGN calculator at the top of this page to convert any amount of FRED to NGN. We've also included quick-reference tables for the most popular conversions. For example, 5 NGN is equivalent to 3.66 FRED, while 5 FRED will cost around 6.83NGN.
What is the highest price of FRED/NGN in history?
The all-time high price of 1 FRED in NGN is ₦51.27. It remains to be seen if the value of 1 FRED/NGN will exceed the current all-time high.
What is the price trend of FRED Energy in NGN?
Over the past 7 days, the exchange rate of FRED Energy (FRED) has gone up by 0.67%.   Over the last month, the exchange rate of FRED Energy (FRED) has gone up by 28.82% against Nigerian Naira (NGN).

What factors influence the conversion rate of FRED to NGN?

There are many factors that affect the relationship between FRED Energy 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 FRED/NGN. When there is positive news in the market about the widespread adoption of FRED or major technological breakthroughs, it tends to trigger market optimism and drive the rise of FRED/NGN. Conversely, negative news, such as regulatory crackdowns and security vulnerabilities, may trigger market panic and lead to a decline in FRED/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.
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 FRED/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 FRED Energy and adjust their investment strategies accordingly in the evolving market.

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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.