Switch .com Best Exchange Rates .com Best Exchange Rates .com Best Exchange Rates
eg: USDCAD, GBP/EUR, AUD to USD, 500 Pound to Yen, 15K Dollar Peso, Send Japan

Nigeria - Nigerian naira - Currency Guide

 

Foreign exchange guide to Nigeria and the Nigerian naira (NGN)

     

USD/NGN Trend (90-day)

USDNGN at 380.5 has fallen 2.8% below its 90-day average, range 379.5-412.4.
1D-3.6%
|
Alert:1D-3.6% |
 
Recent USD to NGN Trend + Alerts

The above interactive chart shows the USD/NGN Exchange Rate, Trends and Alerts - UP DOWN HIGH LOW

   

NGN News, Forecasts and Trends

US dollar to Nigerian naira - Historical Rates

USD/NGNChangePeriod
380.50
30 Apr 2021
no change1 Week
397.78
07 Apr 2021
4.3% ▼30 Days
381.00
06 Feb 2021
0.1% ▼90 Days
389.50
07 May 2020
2.3% ▼1 Year
199.04
08 May 2016
91.2% ▲5 Years
156.14
10 May 2011
143.7% ▲10 Years

USD/NGN 10 year historic rates & change to 07-May-2021 : 380.50

 

$10,000 USD
=
₦4,056,730 NGN

Converted at USD/NGN interbank rate, compare Send Money and Currency Exchange exchange rates.

US dollar to Nigerian naira - Quick Convert

USD NGN
$ 1 405.67
$ 5 2,028
$ 10 4,057
$ 20 8,113
$ 50 20,284
$ 100 40,567
$ 250 101,418
$ 500 202,835
$ 1,000 405,670
$ 2,000 811,340
$ 5,000 2,028,350
$ 10,000 4,056,700
$ 50,000 20,283,500
$ 100,000 40,567,000
More amounts
USD NGN
$ 0.0025 ₦ 1
$ 0.0123 ₦ 5
$ 0.0247 ₦ 10
$ 0.0493 ₦ 20
$ 0.1233 ₦ 50
$ 0.2465 ₦ 100
$ 0.6163 ₦ 250
$ 1.2325 ₦ 500
$ 2.4650 ₦ 1,000
$ 4.9300 ₦ 2,000
$ 12.33 ₦ 5,000
$ 24.65 ₦ 10,000
$ 123.25 ₦ 50,000
$ 246.50 ₦ 100,000
More amounts
 

Frequently Asked Questions

 

What currency should I use in Nigeria?

The domestic currency in Nigeria is the Nigerian naira.

What is the Nigerian naira currency code and symbol?

The three letter currency code for the Nigerian naira is NGN — symbol is .

Which countries use the Nigerian naira?

It is the domestic currency in    Nigeria.

Is the Nigerian naira a closed currency?

Yes the Nigerian naira is a closed currency. Which means that you may find it difficult to purchase the currency (NGN) before departure and will probably need to buy it upon arrival. If you do manage to buy some of the currency or have some left over from a previous trip, make sure you are aware if you are allowed to bring this closed currency into the country.

For more information and a full list of closed currencies please refer to our guide: What is a closed currency?

 

Travel, Currency and Money saving tips for Nigeria

Travel money for Nigeria

As mentioned above, the Nigerian naira is a closed currency. Which means that you may find it difficult (or be permitted) to purchase the currency (NGN) before departure and will need to buy it upon arrival in Nigeria.

For these types of destinations, using a pre-paid travel card is a good solution. As no travel cards support loading closed currencies like the NGN you will incur currency conversion or foreign transaction fees if you use a travel money card in Nigeria.

However, using a pre-paid travel card is still a good idea as you can avoid ATM fees and also you can avoid using (and losing!) your main bank or debit/credit card.

 

Send Money to Nigeria - Best Rates

To get a good (and fair) exchange rate when sending money to Nigeria you need to find and compare exchange rates for International Money Transfers (IMTs).

The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.

You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.


Get a better deal for foreign transfers to Nigeria

When sending money to Nigeria it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :

  1. Open an account with a BER reviewed FX provider (id docs may be required)
  2. You specify the local or Nigerian naira amount you want to transfer
  3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
  4. Once your funds are received by the provider the converted NGN amount will be transfered to the recipient account you specify in Nigeria.

Use the above Send to Nigerian naira calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Nigerian naira deposited into the recipient bank account and less margins and fees kept by the banks!


Country/Currency Guides - A to Z


A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
V
W
Y
Z