Loading...
Best Exchange Rates

Home pages - full list (A-Z)

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 mid-rate = 361

Right now the USD/NGN market mid-rate is 361 and represents ideally how many Nigerian Naira you can get for one 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:

USD / NGN mid-rate converter


$USD


₦NGN
1 United States Dollar equals
361 Nigerian Naira

Compare how much you can save on
USD/NGN exchange rates for:

Foreign Transfers

 
 
1 Week USD to NGN Chart
Loading USD/NGN rates
Sending to NGN we recommend: WorldRemit WorldRemit

United States Dollar

Nigerian Naira

1 USD 361.00 NGN
5 USD 1,805.00 NGN
10 USD 3,610.00 NGN
20 USD 7,220.00 NGN
50 USD 18,050.00 NGN
100 USD 36,100.00 NGN
250 USD 90,250.00 NGN
500 USD 180,500.00 NGN
1,000 USD 361,000.00 NGN
2,000 USD 722,000.00 NGN
5,000 USD 1,805,000.00 NGN
10,000 USD 3,610,000.00 NGN
50,000 USD 18,050,000.00 NGN
100,000 USD 36,100,000.00 NGN
See more

United States Dollar

Nigerian Naira

0.0028 USD 1 NGN
0.0139 USD 5 NGN
0.0277 USD 10 NGN
0.0554 USD 20 NGN
0.1385 USD 50 NGN
0.2770 USD 100 NGN
0.6925 USD 250 NGN
1.3850 USD 500 NGN
2.7700 USD 1,000 NGN
5.5400 USD 2,000 NGN
13.85 USD 5,000 NGN
27.70 USD 10,000 NGN
138.50 USD 50,000 NGN
277.00 USD 100,000 NGN
See more

NGN Country Guides
NigeriaNigeria

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 Feb 2019361.0000Latest
13 Feb 2019361.50001 Week-0.14%
21 Jan 2019362.43001 Month-0.39%
24 Aug 2018360.58006 Months+0.12%
20 Feb 2018360.50001 Year+0.14%
20 Feb 2017315.02342 Years+14.59%
21 Feb 2014165.18225 Years+118.55%
22 Feb 2009148.658310 Years+142.84%

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

26-January-19: 2018 was a reasonable year for the dollar. Measured by the US Dollar Index, the greenback appreciated by 4 percent, which was much better than 2017’s 10 percent loss. It was, though, something of a stuttering end to 2018 and the dollar has had mixed fortunes in early 2019.

In December, after lifting US interest rates to 2.25-2.5 percent, the Fed lowered its expectations for future hikes due to so-called “cross currents” (China, Brexit, trade wars etc.). Skepticism among analysts over future Fed hikes has for some time been the main reason for dollar pessimism for 2019, but now, there is also the prospect of a US economic slowdown to contend with.

“A slowdown in the economy is likely to weigh on USD particularly in the second half of this year,” a CIBC researcher said in January.

Of the same opinion was an expert at ING, who argued that the dollar is soon to “embark on a gradual long-term bearish trend.”

January’s extended US government shutdown also has dollar-negative ramifications. Not only is the shutdown likely to hit first-quarter GDP growth, disagreements within Congress bode poorly for the future of potentially inflationary fiscal spending.

Nigerian Naira (NGN) - Market news and forecasts

No recent Nigerian Naira market updates.

Currency News and Forecasts - United States Dollar

Pound at 2-Week High Ahead of May-Juncker Brexit Meeting
Euro to Strike 20-Month Low This Week; $1.12 Beckons
HSBC Cuts Australian Dollar Forecast; Aussie to Buy Only US66¢ at Year-End
China’s Ant Financial Acquires WorldFirst
New Zealand Dollar Jumps After RBNZ Says It Won’t Lower Interest Rates
Dollar Optimism Drives Markets