Australian Dollar to Nigerian Naira - Convert Compare Save
AUD to NGN mid-rate = 260.1985
Right now the AUD/NGN market mid-rate is 260.1985
and represents ideally how many Nigerian Naira you can get for one Australian Dollar.
Looking for NGN travel money? Then it is important to note that the Nigerian Naira is a closed currency. Which means that you will not be able to
purchase the currency before departure and will need to buy it upon arrival. For more information and a full list of closed currencies
read our guide: What is a closed currency?
A good solution for closed currencies is to use a pre-paid travel card to avoid carrying large amounts of cash and also minimise ATM fees -
Compare Travel Cards
You can calculate equivalent Australian Dollar to Nigerian Naira currency amounts (at mid-rate) below.
AUD / NGN Converter
$AUD
₦NGN
1 Australian Dollar equals 260.1985Nigerian Naira
1 NGN =
0.003843AUD
1 NGN =
0.003843AUD
Compare how much you can save on AUD/NGN exchange rates for:
Australian Dollar to Nigerian Naira (AUD-NGN) - 10 Year History
The below table shows the historic variation in the AUD/NGN exchange rate over the last 10 years.
The percentage change is the difference from the date shown to present. This lets you decide if the current rate is in your favour.
You can also view our various charts of AUD versus other currencies : AUD historical charts.
Date
Exchange Rate
Period
Change
19 Jan 2019
260.1984
Latest
12 Jan 2019
263.3858
1 Week
-1.21%
20 Dec 2018
258.8467
1 Month
+0.52%
23 Jul 2018
265.2853
6 Months
-1.92%
19 Jan 2018
287.7729
1 Year
-9.58%
19 Jan 2017
238.7489
2 Years
+8.98%
20 Jan 2014
140.8470
5 Years
+84.74%
21 Jan 2009
97.1668
10 Years
+167.79%
Best Rates for AUD/NGN Transfers and Travel Money
The total transaction cost you will be charged is the margin from the mid-rate offered by your foreign exchange provider plus any fixed or percentage fees.
These margins and fees will vary significantly for International Money Transfers and Travel Money transactions.
Why can't I just get the AUD/NGN market rate I see on Google or in the Media?
The AUD/NGN mid-rate is the rate you will see
Quoted on Google
or the News, nobody except the largest banks and businesses can get exchange rates close to this mid-rate. It is actually just the theoretical half-way point (hence mid-rate) between
the last rate at which the AUD / NGN was traded (bought or sold) in the international markets.
Getting a good market rate is mainly about timing however the transaction margin
you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for
travel money and possibly over 5% to 6% when sending money.
The exact potential savings depends on the currencies being exchanged and the amount
you are transferring and if you are willing to shop around.
The closer your final exchange rate is to the market AUD/NGN midrate the better deal you are getting.
The three things you need in order to get a good AUD to NGN exchange rate
Know the latest AUD/NGN market mid-rate.
The closer your final exchange rate is to this real market rate the better deal you are getting.
You should also judge how the current rate compares to the historic rate over the past 10 years.
Compare your Bank's transaction costs
to several
licensed FX providers, remember to compare the exchange rate margins as well as the various types of fees.
We make that easy to do with our calculators for
Foreign Transfers
and
Travel Money
transactions.
Currency news and forecasts for Australian Dollar and Nigerian Naira
Whenever you are researching a particular exchange rate you are actually interested in two currencies as the value of a currency must always be quoted relative to a second currency.
So it follows that if you are determining the best time to transact, in this case the AUD vs NGN, you should pay attention to both Australian Dollar and Nigerian Naira news and forecasts.
Australian Dollar (AUD) - Market news and forecasts
17-January-19: The Australian dollar recovered strongly following a "flash crash" in early January which saw it briefly trade at a 10-year low of 67.4 US cents.
By the time of this report, AUD/USD was back at 72 cents and roughly in line with December’s median exchange rate. The Aussie was similarly strong against other major currencies following its mini crash.
Several months ago, most analysts agreed that the Aussie was heading higher in 2019, but things have changed. In recent months, investors have become increasingly certain that no increase to Australian interest rates will be seen until 2020; there is, in fact, now a 25 percent chance of an RBA cut, per derivatives pricing. Inaction on interest rates will force capital away from Australia and towards countries where rates are higher or are expected to increase.
One senior researcher at BNP Paribas said in January that the Australian dollar would “get absolutely crucified and could suffer a 25-30 percent [long-term] fall.”
In opposition to that view, at least relative to the US dollar, was a CIBC analyst, who said that at current levels the Aussie was “very undervalued” and was his “best bet” for 2019. The analyst’s view was based upon there being a positive resolution to the US-China trade spat. The Aussie could be worth as much as 78 US cents in the second half of 2019, the analyst said.
WorldRemit
Nigeria