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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.
US dollar (USD) to Nigerian naira (NGN) market data - latest interbank exchange rate, trend, chart & historic rates.
USD/NGN Outlook: The outlook for USD/NGN is slightly weaker, likely to move sideways due to its position below the recent average and lack of a clear driver.
USD/EUR Outlook: The outlook for USD/EUR is likely to decrease as the rate is below its recent average and near recent lows, pressured by ongoing political uncertainty in the U.
USD/JPY Outlook: Bearish, as the rate is below its recent average and near the lower end of its 3-month range.
To help you understand the real-world value of the current exchange rate, the table below shows how much US dollar are worth in Nigerian naira across a range of amounts.
This gives a quick view of what you’d get when converting different USD amounts at today’s rate * :
*Converted at the current USD-NGN interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
The best USD to NGN exchange rate is 1386.16 from Wise. This is -0.65% compared to the mid-market rate 1,395.2.
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 Dollar 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 USD-NGN mid-rate and the possible savings of using various 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 1386.16, -0.65% from the latest mid-market rate 1,395.2.
The next best is Western Union at 1372.91, -1.6% from the mid-rate.
Among the banks the Chase Bank rate is -79.9353 at -105.7% the Wells Fargo Bank rate is -84.121 at -106% and the Citibank rate is -19.9404 at -101.4% compared to the mid-rate 1,395.2.
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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