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    Best USD to NGN Exchange Rates Compared Live

    The live mid-rate USD to NGN exchange rate is 1,557.0. Compare currency conversion rates - Reduce FX costs.

    USD-NGN Best Exchange Rates
     
     

    What is the best Send Money conversion rate for USD to NGN?

    The best USD to NGN exchange rate is 0.9935 from Wise. This is - compared to the mid-market rate 1,557.0.

    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.

    How do USD-NGN rates compare between providers?

    Looking at our comparison table the best USD to NGN exchange rate is 0.9935 from Wise, - from the mid-market rate 1,557.0. The next best rate is 0.976 from WorldRemit, - from the mid-rate. WorldRemit with 0.976 is - from the mid-rate.

    The Western Union rate is 0.984 which is - from the mid-rate.

    Among the banks, the Citibank rate is 0.985 at -, the Chase Bank rate is 0.945 at -, and the Wells Fargo Bank rate is 0.939 at - from the mid-rate.

    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.

     

    Compare Rates

     

    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. 

     
     
     

    USD to NGN Market Data

    US dollar (USD) to Nigerian naira (NGN) market data - latest interbank exchange rate, trend, chart & historic rates.

     
    Sell USD   →   Buy NGN
    1 USD =
    1,557.0We compare provider deals to this wholesale mid-market rate. Read more
    NGN
    ▼-0.1% since yesterday
    USD to NGN is at 7-day lows near 1552, 3.4% below its 3-month average of 1607, having traded in a fairly volatile 9.8% range from 1545 to 1697
    |
    Tracker

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    DateUSD/NGNChangePeriod
    08 Jan 2025
    1545.18
    		0.3% ▲2 Week
    24 Oct 2024
    1644.32
    		5.7% ▼3 Month
    23 Jan 2024
    909.33
    		70.5% ▲1 Year
    24 Jan 2020
    362.50
    		327.7% ▲5 Year
    25 Jan 2015
    190.86
    		712.3% ▲10 Year
    27 Jan 2005
    132.90
    		1066.6% ▲20 Year
    USD/NGN historic rates & change to 22-Jan-2025
     

    What are equivalent amounts of USD and NGN?

    Here are some popular conversion amounts for USD to NGN (US dollar to Nigerian naira)*.

    USD NGN
    $ 1 ₦ 1.0000
    $ 5 ₦ 5.0000
    $ 10 ₦ 10.00
    $ 20 ₦ 20.00
    $ 50 ₦ 50.00
    $ 100 ₦ 100.00
    $ 250 ₦ 250.00
    $ 500 ₦ 500.00
    $ 1,000 ₦ 1,000
    $ 2,000 ₦ 2,000
    $ 5,000 ₦ 5,000
    $ 10,000 ₦ 10,000
    $ 20,000 ₦ 20,000
    $ 50,000 ₦ 50,000
    $ 100,000 ₦ 100,000
    USD NGN
    $ 0.0006 ₦ 1
    $ 0.0032 ₦ 5
    $ 0.0064 ₦ 10
    $ 0.0128 ₦ 20
    $ 0.0321 ₦ 50
    $ 0.0642 ₦ 100
    $ 0.1605 ₦ 250
    $ 0.3210 ₦ 500
    $ 0.6420 ₦ 1,000
    $ 1.2840 ₦ 2,000
    $ 3.2100 ₦ 5,000
    $ 6.4200 ₦ 10,000
    $ 12.84 ₦ 20,000
    $ 32.10 ₦ 50,000
    $ 64.20 ₦ 100,000

    More amounts

    *Converted at the current USDNGN interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.

     
     

    Forecasts for USD to NGN

     

    Recent shifts in the USD to NGN exchange rate have been influenced by a confluence of factors, including US economic data, political developments, and local economic challenges in Nigeria. Following the election of Donald Trump, the US dollar (USD) has experienced a notable strengthening, attributed to inflation expectations and anticipated policy changes. Market analysts indicate that this bullish sentiment for the USD is bolstered by expectations of sustained elevated US interest rates, despite Trump's vocal inclination towards a weaker dollar. Financial institutions like JPMorgan and Goldman Sachs have revised their forecasts to reflect a predicted continuation of USD strength, which is expected to push the currency higher amid a tumultuous global economic landscape.

    Read our full review of recent USD to NGN forecasts.

     
    NGN and flag

    How to get a good USD to NGN exchange rate

    There are several ways to save on exchange rates when converting US dollar to Nigerian naira:

    1. Shop around for the best USD/NGN exchange rate: Exchange rates can vary significantly between different currency exchange providers, so it's important to compare rates from different sources before making a conversion.
    2. Timing is important: Keep an eye on the USD/NGN rate on currency markets, as exchange rates can fluctuate frequently. Try to make your transactions when the exchange rate is in your favor. You can do this easily with our BER Smart Rate Tracker.
    3. Use a credit/debit or travel card that doesn't charge foreign transaction fees: Some credit cards charge additional fees for transactions made in a foreign currency, so it's important to check with your card issuer to see if they charge these fees and what their exchange rate is.
    4. Use a multi-currency account: Having a multi-currency account allows you to hold and transfer money in both USD and NGN at close to the interbank rate. It also allows you to make payments or withdrawals in the local currency while avoiding high conversion fees.
    5. Buy currency in advance: If you know that you will need foreign currency in the future, consider buying it in advance when the exchange rate is favorable.

    The key is reducing excessive costs and fees

    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, living and doing business in Nigeria 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.

    Multi-Vendor Quote

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    Click below for the Request Quotes form and enter your transfer details (BER account required).

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    Save time and money - fewer websites to visit and you get a much better exchange rate & service.

    Compare Rates

    Will the US dollar rise against the Nigerian naira?

    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.

     
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    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

     
     

    Currency Country Guides

    United StatesUnited States (USD)NigeriaNigeria (NGN)
     

    What is the cost of living in Nigeria?

    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.

    How is the expat life in Nigeria?

    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.

    Read more at our Nigeria (NGN) country guide

       
     
     
     

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    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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