The live mid-rate USD to NGN exchange rate is 1,588.3. Compare currency conversion rates - Reduce FX costs.
The best USD to NGN exchange rate is 1577.94 from Wise.
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.
Looking at our comparison table the best USD to NGN exchange rate is 1577.94 from Wise. The next best rate is 1562.85 from Western Union. Then WorldRemit with 1550.14.
Among the banks, the Chase Bank rate is -86.3663, the Wells Fargo Bank rate is -95.8959, and the Citibank rate is -22.8359 compared to the mid-rate 1,588.3.
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.
The Dollar to Naira comparison table above 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 USD-NGN mid-rate (see Market Data below ) and the possible savings of using various providers.
US dollar (USD) to Nigerian naira (NGN) market data - latest interbank exchange rate, trend, chart & historic rates.
| Date | USD/NGN | Change | Period |
|---|---|---|---|
16 May 2025 | 1602.34 | 0.8% ▼ | 2 Week |
01 Mar 2025 | 1502.50 | 5.8% ▲ | 3 Month |
30 May 2024 | 1468.92 | 8.3% ▲ | 1 Year |
31 May 2020 | 386.94 | 310.9% ▲ | 5 Year |
02 Jun 2015 | 199.06 | 698.8% ▲ | 10 Year |
04 Jun 2005 | 132.57 | 1099.4% ▲ | 20 Year |
Here are some popular conversion amounts for USD to NGN (US dollar to Nigerian naira)*.
*Converted at the current USDNGN interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
The USD to NGN exchange rate has recently experienced notable activity, with the current rate standing at 1588 NGN, which is 1.1% above its three-month average of 1570 NGN. Over the last three months, the exchange rate has remained relatively stable, fluctuating within a 7.6% range between 1496 NGN and 1610 NGN.
Read our full review of recent USD to NGN forecasts.
There are several ways to save on exchange rates when converting US dollar to Nigerian naira:
Generally speaking, if you are buying Nigerian naira with US dollar, then it's better for the USD/NGN exchange rate to be higher.
However working against you are the fees all foreign exchange providers charge for providing their service. These fees is usually contained within the exchange rate margin (or difference to the mid-rate).
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.
Read our Currency guide to Nigeria — a practical currency and money guide to travel in Nigeria plus living and doing business with the Nigerian naira.
It's worth noting that while these tips can help you save on exchange rates, it's important to be aware that no single method is guaranteed to provide the best exchange rate in every situation, and it may require some research and comparison-shopping to find the best option for your specific needs.
It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.
To help with this you can add USD/NGN to your personalised Rate Tracker to track and benefit from currency movements.
Rather than requiring you to set a target rate, our Rate Alerts keep you informed of recent trends and movements of currency pairs.
Add rates to your Rate Tracker and select to receive an daily email (mon-fri) or when a rate is trending
| United States (USD) | Nigeria (NGN) |
There is no definitive answer to this question since it can vary greatly depending on the individual's lifestyle and location within Nigeria. However, according to Numbeo's Cost of Living Index for 2018, Lagos, Nigeria's largest city, ranks as the 95th most expensive city in the world out of a total of 679 cities.
The expat life in Nigeria is generally good. There are many things to do and see, and the people are generally friendly and welcoming. However, there are some challenges, such as the high crime rate and the lack of infrastructure.
The main law that foreigners should be aware of in Nigeria is the National Immigration Act. This act regulates the entry and exit of foreigners into the country. It also sets out the requirements for obtaining a visa and other permissions to stay in Nigeria.
The business climate in Nigeria is challenging. Corruption is rampant, and the rule of law is weak. Infrastructure is poor, and power shortages are common. Despite these challenges, Nigeria is Africa's largest economy, and many businesses are doing well.
The economy in Nigeria is in a recession.
Read more at our Nigeria (NGN) country guide
Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more
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