What is the Remitly Send Money conversion rate for USD to NGN?
The Remitly USD to NGN exchange rate is 1336.56. This is -2.5% compared to the latest USD-NGN mid-market rate 1,370.8.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare US dollar (USD) to Nigerian naira (NGN) rates from different sources before making a conversion.
The above Remitly - Dollar to Naira comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged by Remitly and other foreign exchange providers against the latest USD-NGN mid-rate and the possible savings of using various providers.
How do Remitly USD-NGN rates compare between providers?
Looking at the full USD to NGN - Send Money comparison table the provider with the best USD to NGN exchange rate is Wise at 1361.92, -0.65% from the latest mid-market rate 1,370.8.
The next best is Western Union at 1343.41, -2% from the mid-rate.
Among the banks the Chase Bank rate is -74.4076 at -105.4% the Wells Fargo Bank rate is -82.6326 at -106% and the Citibank rate is -19.5744 at -101.4% compared to the mid-rate 1,370.8.
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 like Remitly or platforms that offer rates closer to the mid-market rate.