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’.
USD to NGN Market Data
US dollar (USD) to Nigerian naira (NGN) market data - latest interbank exchange rate, trend, chart & historic rates.
USD to NGN is at 60-day lows near 1546, 2.0% below its 3-month average of 1577, having traded in a quite stable 5.7% range from 1523 to 1610
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Is the USD to NGN Exchange Rate Likely to Improve?
Predicting exchange rate movements is always challenging, as they’re influenced by a wide range of economic and geopolitical factors. One useful way to assess the current value of the US dollar against the Nigerian naira is to review how the USD/NGN rate has changed over time.
The table below shows the percentage change in the USD to NGN exchange rate across various timeframes—from the past 2 weeks to the last 20 years:
#FX Update: USD/NGN trading near 1546, down 2% from 3-month avg. Strong US jobs data boosting USD as Fed rate cut hopes fade. Analysts expect continued pressure on NGN amid Nigeria's cash crunch & oil price sensitivity - watch for moves in 1523-1610 range. #forex #USDNGN
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 * :
What is the
best Send Money conversion rate for USD to NGN?
The best USD to NGN exchange rate is 1537.55 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.
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.
How do USD-NGN rates compare between providers?
Looking at the
full comparison table
the best USD to NGN exchange rate is 1537.55 from Wise. The next best rate is 1522.85 from Western Union. Then WorldRemit with 1510.47.
Among the banks the Chase Bank rate is -84.1305 the Wells Fargo Bank rate is -93.4162 and the Citibank rate is -22.2262 compared to the mid-rate 1,547.6.
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 USD/JPY exchange rate has shown recent resilience, with the US dollar closing last week's session at 14-day highs near 144.9, just under its three-month average.