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)

    What's in this Nigeria currency guide?

    1. USD/NGN trend
    2. Forecasts
    3. Travel Nigeria
    4. Spending NGN
    5. Send to Nigeria
         

    USD/NGN Trend (90-day)

    USD to NGN at 411.9 is near its 90-day average, range 410.2-412.6.
    |
    1-DAY+0.7%1d
    30-DAYLOW
     

    The below interactive chart displays the USD/NGN trend and UP DOWN HIGH LOW alerts

     
    USD to NGN Currency Trend Chart
       

    US dollar to Nigerian naira - Historical Rates

    USD/NGN wasChangePeriod
    411.36
    05 Oct 2021
    0.1% 2 Weeks
    411.22
    21 Jul 2021
    0.1% 90 Days
    382.00
    19 Oct 2020
    7.6% 1 Year
    313.87
    20 Oct 2016
    30.9% 5 Years
    159.20
    22 Oct 2011
    158.1% 10 Years
    117.51
    24 Oct 2001
    249.7% 20 Years
    USD/NGN change over periods to 19-Oct-2021
     

    $10,000 USD
    =
    ₦4,119,000 NGN

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

    USD to NGN - Quick Amounts

    Sell USD   →   Buy NGN
    USD NGN
    $ 1 411.90
    $ 5 2,060
    $ 10 4,119
    $ 20 8,238
    $ 50 20,595
    $ 100 41,190
    $ 250 102,975
    $ 500 205,950
    $ 1,000 411,900
    $ 2,000 823,800
    $ 5,000 2,059,500
    $ 10,000 4,119,000
    $ 20,000 8,238,000
    $ 50,000 20,595,000
    $ 100,000 41,190,000
    USD NGN
    $ 0.0024 ₦ 1
    $ 0.0121 ₦ 5
    $ 0.0243 ₦ 10
    $ 0.0486 ₦ 20
    $ 0.1214 ₦ 50
    $ 0.2428 ₦ 100
    $ 0.6070 ₦ 250
    $ 1.2140 ₦ 500
    $ 2.4280 ₦ 1,000
    $ 4.8560 ₦ 2,000
    $ 12.14 ₦ 5,000
    $ 24.28 ₦ 10,000
    $ 48.56 ₦ 20,000
    $ 121.40 ₦ 50,000
    $ 242.80 ₦ 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