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Understanding the Table:
The comparison table above helps you see the total cost of your currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of available providers, simply enter your transaction type, details and click ‘GET RATES’.
Sending money to Nigeria can be an expensive business, more so if you aren’t even aware of all the hidden fees. Money transfer companies and banks profit by charging you fees and a normally hidden margin on the exchange rate.
Using your Bank to make international wire transfers to India can be especially expensive – often 5% to 10% worse than using a foreign exchange specialist to send to Nigeria bank accounts or pay a Nigerian naira invoice.
British pound (GBP) to Nigerian naira (NGN) market data - latest interbank exchange rate, trend, chart & historic rates.
In the near term, GBP/NGN is trading close to its recent lows, holding near 3.2% below its 3-month average. The dominant driver from structured analysis is risk sentiment, which is currently risk-off due to...
In the near term, GBP/USD is trading close to the 90-day average and remains near the high end of its recent range. The dominant driver is the rate differential, with the USD supported by safe-haven flows from...
In the near term, USD/NGN is trading close to its recent lows, holding near the 90-day average. The pair has traded within a volatile range and is supported by risk-off sentiment.
To help you understand the real-world value of the current exchange rate, the table below shows how much British pound are worth in Nigerian naira across a range of amounts.
This gives a quick view of what you’d get when converting different GBP amounts at today’s rate * :
*Converted at the current GBP-NGN interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
The best GBP to NGN exchange rate is 1823.45 from Wise. This is -0.6% compared to the mid-market rate 1,834.5.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare British pound (GBP) to Nigerian naira (NGN) rates from different sources before making a conversion.
The above Sterling to Naira comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged by banks and other foreign exchange providers against the latest GBP-NGN mid-rate and the possible savings of using various providers.
Looking at the full GBP to NGN - Send Money comparison table the provider with the best GBP to NGN exchange rate is Wise at 1823.45, -0.6% from the latest mid-market rate 1,834.5.
The next best is Western Union at 1797.76, -2% from the mid-rate.
Among the banks the Lloyds Bank rate is -68.7212 at -103.7% the Royal Bank of Scotland rate is -57.7145 at -103.1% and the Barclays Bank rate is -63.2178 at -103.4% compared to the mid-rate 1,834.5.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks and foreign exchange providers often apply a margin to the exchange rate, resulting in a less favorable rate for customers compared to the mid-market rate. For more competitive rates, you might consider using a specialized currency exchange service or platforms that offer rates closer to the mid-market rate.
View a full list of exchange rates by selecting your Base (from) currency:
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