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Best USD to NGN Exchange Rates Compared Live

The best USD to NGN exchange rate is 1582.3. Compare foreign transfer and currency exchange rates, find better rates & deals.

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Comparing USD-NGN exchange rates

Exchange rates can vary significantly between different currency exchange providers, so it's important to compare US dollar (USD) to Nigerian naira (NGN) rates from different sources before making a conversion.

The above Dollar to Naira comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged vs the latest USD-NGN mid-rate (see below) and the possible savings of using another provider.

US dollar to Nigerian naira (USDNGN) rate guide contents:

 

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USD to NGN Market Data

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

 
1 USD =
1582.3We compare provider deals to this wholesale mid-market rate. Read more
NGN
+0.0%
USD to NGN at 1578 is 52.3% above its 3-month average of 1036, having traded in a highly volatile 110.2% range from 764.5 to 1607
|
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DateUSD/NGNChangePeriod
16 Feb 2024
1493.73
5.9% 2 Week
02 Dec 2023
789.76
100.3% 3 Month
02 Mar 2023
460.11
243.7% 1 Year
03 Mar 2019
361.73
337.2% 5 Year
04 Mar 2014
164.64
860.6% 10 Year
06 Mar 2004
138.25
1043.9% 20 Year
USD/NGN historic rates & change to 01-Mar-2024
 

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 1,582
$ 5 7,912
$ 10 15,823
$ 20 31,646
$ 50 79,115
$ 100 158,230
$ 250 395,575
$ 500 791,150
$ 1,000 1,582,300
$ 2,000 3,164,600
$ 5,000 7,911,500
$ 10,000 15,823,000
$ 20,000 31,646,000
$ 50,000 79,115,000
$ 100,000 158,230,000
USD NGN
$ 0.0006 ₦ 1
$ 0.0032 ₦ 5
$ 0.0063 ₦ 10
$ 0.0126 ₦ 20
$ 0.0316 ₦ 50
$ 0.0632 ₦ 100
$ 0.1580 ₦ 250
$ 0.3160 ₦ 500
$ 0.6320 ₦ 1,000
$ 1.2640 ₦ 2,000
$ 3.1600 ₦ 5,000
$ 6.3200 ₦ 10,000
$ 12.64 ₦ 20,000
$ 31.60 ₦ 50,000
$ 63.20 ₦ 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

 

Based on recent analyst forecasts and market updates, the US Dollar (USD) has shown resilience and strength against the Nigerian Naira (NGN). The recent positive economic indicators in the US, such as strong job reports and upbeat PMIs, have bolstered the USD and raised doubts about potential Federal Reserve rate cuts, likely until at least May. The USD to NGN exchange rate currently stands at 1597, significantly higher than its 3-month average, reflecting a volatile trading range from 764.5 to 1607.

Read our full review of recent USD to NGN forecasts.

 

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.

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.

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.

Keep track of currency Trends; Up📈 or Down📉 trends over periods from 1 week (1W) to 3 months (3M).

Add rates to your Rate Tracker and select to receive an daily email (mon-fri) or when a rate is trending


 

Read our Currency guide to Nigeria - a practical currency and money guide to travel, living and doing business in Nigeria with the Nigerian naira.

 
 
 

Country Currency 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

   
 
 

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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