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USD to NGN - Rate Guide

United States Dollar to Nigerian Naira exchange rates aren't all the same.

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

 

USD/NGN update & alerts

1 USD = 361.5 NGN

At 362.5 USD/NGN was trading near its 90-DAY average 361.68 with HIGH-LOW 363.83-352.89. There are currently no alerts. Updated: 14:07-AEDT 04:07-BST 23:07-EDT
 

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USD/NGN Exchange Rates and Providers Compared

This guide to the United States Dollar to Nigerian Naira exchange rate with 90-day chart & alerts, historic rates, forecasts and USD to NGN comparison tables for foreign transfers and travel money rates and fees on offer by banks and foreign exchange providers. Calculate amounts and rate margins with the USD/NGN Calculator.

Looking for NGN travel money? Then it is important to note that the Nigerian Naira is a closed currency. Which means that it is more difficult (but not impossible) to purchase the currency before departure and may 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

USD / NGN converter & margin calculator

U$USD
₦NGN
mid-rates

When sending United States Dollar to Nigerian Naira we recommend:

WorldRemit WorldRemit


Foreign Transfers Travel Money

United States Dollar

Nigerian Naira

1 USD 361.50 NGN
5 USD 1,807.50 NGN
10 USD 3,615.00 NGN
20 USD 7,230.00 NGN
50 USD 18,075.00 NGN
100 USD 36,150.00 NGN
250 USD 90,375.00 NGN
500 USD 180,750.00 NGN
1,000 USD 361,500.00 NGN
2,000 USD 723,000.00 NGN
5,000 USD 1,807,500.00 NGN
10,000 USD 3,615,000.00 NGN
50,000 USD 18,075,000.00 NGN
100,000 USD 36,150,000.00 NGN
See more

United States Dollar

Nigerian Naira

0.0028 USD 1 NGN
0.0138 USD 5 NGN
0.0277 USD 10 NGN
0.0553 USD 20 NGN
0.1383 USD 50 NGN
0.2766 USD 100 NGN
0.6915 USD 250 NGN
1.3830 USD 500 NGN
2.7660 USD 1,000 NGN
5.5320 USD 2,000 NGN
13.83 USD 5,000 NGN
27.66 USD 10,000 NGN
138.30 USD 50,000 NGN
276.60 USD 100,000 NGN
See more
Country Guides (USD & NGN)
United StatesUnited States (USD)NigeriaNigeria (NGN)East TimorEast Timor (USD)
EcuadorEcuador (USD)El SalvadorEl Salvador (USD)British Virgin IslandsBritish Virgin Islands (USD)
US Virgin IslandsUS Virgin Islands (USD)Caribbean NetherlandsCaribbean Netherlands (USD)Turks And Caicos IslandsTurks And Caicos Islands (USD)
ZimbabweZimbabwe (USD)

USD/NGN - Historical Trends

This table shows historic rates and trends of United States Dollar to Nigerian Naira over periods upto 10 years.

PeriodChange*USD/NGNDate
1 Day+0.1%361.990317 Oct 2019
7 Day+0.4%361.000011 Oct 2019
30 Day+0.3%361.406818 Sep 2019
3 Month+0.2%361.907320 Jul 2019
1 Year-0.3%363.500018 Oct 2018
5 Year+119.3%165.324019 Oct 2014
10 Year+141.3%150.252020 Oct 2009

*For period to 18-Oct 21UTC when USD/NGN was 362.5000

You can use our USD interactive charts to check USDNGN historic trends.

Get a Better FX Deal when you Send and Spend Abroad.

 

USD and NGN in the Markets

When determining the best time to make a foreign exchange transaction, in this case the USD vs NGN, you should pay attention to the recent market trends for both currencies.

United States Dollar (USD)

The US dollar has held its value this year despite a serious escalation in US-China trade tensions, mainly because the greenback is still considered a safer currency to own than most others. After grim employment data on June-7, the Dollar Index was up 0.5 percent on the year (it had fallen 2 percent from May’s 2-year high).

As in other parts of the world, interest rate cuts are now expected in the US following a drastic shift in economic forecasts. At least two Fed cuts are expected this year, with the first most likely to come in July.

Taking the blame for the economic downturn is US President Donald Trump, whose trade policies have set a ball rolling that could wipe $455bn from global output according to the IMF.

Read more in the article USD Forecasts.

 

Nigerian Naira (NGN)

No recent Nigerian Naira market updates.

Why can't I just get the USD/NGN market rate I see online or in the media?

The mid-rate is the rate you will see quoted online or the news. It is actually just the half-way point (hence mid-rate) between the last rate at which the USD / NGN was traded (bought or sold) in the international markets.

All foreign exchange providers charge a fee for providing their service and this fee is usually contained within the exchange rate margin (or difference to the mid-rate). Some providers such as Transferwise will quote you the mid-rate (or close to) and charge a separate percentage fee.

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.

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

We help you Compare & Save Money on Exchange Rates.

 

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