How Do You Spell NAIRA?

Pronunciation: [nˈe͡əɹə] (IPA)

The term "naira" is a word you might commonly hear in Nigeria. In phonetic terms, it can be transcribed as /naɪˈrɑː/. The first syllable, "na," rhymes with "bye" and is pronounced with a long "i" sound. The second syllable, "i," is pronounced with a short "i" sound, followed by an "r" sound. The last syllable, "a," is pronounced with a long "a" sound. In written form, the word is spelled as "naira," with an "n" and "r" separating the two "i" sounds.

NAIRA Meaning and Definition

1. Naira is the currency of Nigeria, West Africa's most populous country. It is denoted by the symbol "₦" and is subdivided into 100 kobo. The word "naira" is derived from the Nigerian Hausa language, meaning "money". As the official legal tender, the naira is issued and regulated by the Central Bank of Nigeria.

   The naira was introduced in 1973 to replace the Nigerian pound, as it reflected Nigeria's adoption of the decimal currency system. Since then, the naira has undergone several changes, including various coins and banknotes being issued with different designs and security features to discourage counterfeiting.

   As of September 2021, the exchange rate of the naira fluctuates due to various economic factors and is determined by the foreign exchange market. It is commonly exchanged for other major currencies such as the US dollar, euro, or British pound.

   The naira plays a crucial role in Nigeria's economy, facilitating domestic and international transactions. It is used for trade, investment, and everyday purchases within the country. The stability and value of the naira can have significant effects on Nigeria's economic growth and the wellbeing of its citizens, making it a subject of constant attention for policymakers and economists.

   Overall, the naira represents the primary unit of exchange in Nigeria, symbolizing the country's economic progress and serving as a vital tool for financial transactions within the nation and beyond.

Common Misspellings for NAIRA

• faira
• nayra
• naara
• namra
• nahra
• nai2a
• naiba
• naiva
• naipa
• nairi
• naire
• nairc
• nheira
• n aira
• na ira
• nai ra
• nair a

Etymology of NAIRA

The word "naira" is the currency of Nigeria, and its etymology can be traced back to the pre-colonial era. "Naira" is derived from the original name of Nigeria's currency, which was the "Nigerian pound". The pound was named after the country's river, the River Niger, which flows through Nigeria. The word "naira" itself comes from the combination of "Nig" from "Nigeria" and "aira" from the word "kobo", which was a subdivision of the original Nigerian pound. Hence, the currency was named "naira" to reflect the Nigerian identity and its connection to the River Niger. The naira was introduced in 1973 when Nigeria decimalized its currency system, replacing the pound.

Similar spelling words for NAIRA

• narrow,
• nary,
• NAIR,
• NARA,
• nauru.

Plural form of NAIRA is NAIRA OR NAIRAS