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USD to NGN - Compare Exchange Rates

United States Dollar to Nigerian Naira - Convert Compare Save

The total cost you are charged by your foreign exchange provider consists of the margin from the mid-rate offered plus any fixed or percentage fees. These margins and fees vary significantly for International Money Transfers and Travel Money transactions as shown below.

 

USD to NGN interbank exchange rate = 360

Right now the USD/NGN interbank exchange rate is 360. It’s also called the mid-market rate or just the mid-rate and is the rate that banks use when trading large amounts of foreign currencies with one another.

It's the reference rate we use to calculate how much you are being charged to convert Nigerian Naira to United States 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

This USD/NGN Converter calculates equivalent United States Dollar to Nigerian Naira amounts at the market mid-rate. You can also enter your own rates to find out the percentage difference to the latest market rates you are being charged.

USD / NGN converter & margin calculator


$USD
₦NGN
Mid-rates:
 

Foreign Transfers Travel Money

Sending USD->NGN we recommend:

WorldRemit WorldRemit

1 Week USD to NGN
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United States Dollar

Nigerian Naira

1 USD 360.00 NGN
5 USD 1,800.00 NGN
10 USD 3,600.00 NGN
20 USD 7,200.00 NGN
50 USD 18,000.00 NGN
100 USD 36,000.00 NGN
250 USD 90,000.00 NGN
500 USD 180,000.00 NGN
1,000 USD 360,000.00 NGN
2,000 USD 720,000.00 NGN
5,000 USD 1,800,000.00 NGN
10,000 USD 3,600,000.00 NGN
50,000 USD 18,000,000.00 NGN
100,000 USD 36,000,000.00 NGN
See more

United States Dollar

Nigerian Naira

0.0028 USD 1 NGN
0.0139 USD 5 NGN
0.0278 USD 10 NGN
0.0556 USD 20 NGN
0.1389 USD 50 NGN
0.2778 USD 100 NGN
0.6945 USD 250 NGN
1.3890 USD 500 NGN
2.7780 USD 1,000 NGN
5.5560 USD 2,000 NGN
13.89 USD 5,000 NGN
27.78 USD 10,000 NGN
138.90 USD 50,000 NGN
277.80 USD 100,000 NGN
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United States Dollar to Nigerian Naira (USD-NGN) - 10 Year History

The below table shows the historic variation in the USD/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 USD versus other currencies : USD historical charts.

DateExchange RatePeriodChange
20 Apr 2019360.0000Latest
13 Apr 2019361.42551 Week-0.39%
21 Mar 2019360.28391 Month-0.08%
22 Oct 2018363.55466 Months-0.98%
20 Apr 2018360.00001 Year0%
20 Apr 2017316.02532 Years+13.91%
21 Apr 2014162.55405 Years+121.46%
22 Apr 2009148.125310 Years+143.04%

Why can't I just get the USD/NGN market rate I see on Google or in the Media?

The USD/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 USD / 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 USD/NGN midrate the better deal you are getting.

Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.

The three things you need in order to get a good USD to NGN exchange rate

  1. Know the latest USD/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.
  2. 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.
  3. Review up-to-date Currency News and Forecasts for both the and currencies, if available.

Currency news and forecasts for United States 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 USD vs NGN, you should pay attention to both United States Dollar and Nigerian Naira news and forecasts.

United States Dollar (USD) - Market news and forecasts

In the third week of April the Dollar Index was rallying strongly towards the mid-97s, slightly below major resistance at 97.70, a break of which would be massively positive for the greenback. The index was up 1.7 percent year-to-date.

The dollar’s strength comes in spite of a dovish surprise in March from the Federal Reserve, which ditched two interest rate hikes from its 2019 projections. Fortunately for dollar holders, the rest of the world has problems and other important central banks also turned dovish, removing much of the incentive for selling USD.

Bloomberg research warned in April of potential for a large upcoming move in the US dollar, up or down. Over the past quarter-century, three prominent troughs in the JPMorgan Global FX Volatility Index were followed by dollar moves over 6-month periods worth 10-15 percent. The index was trading in mid-April at a 5-year low.

Nigerian Naira (NGN) - Market news and forecasts

No recent Nigerian Naira market updates.