Find Today's Best US Dollar to Nigerian Naira Exchange Rates
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Compare USD-NGN exchange rates and fees before your next money transfer
| Sending 300 USD with | Your recipient gets | Exchange rate | Fees |
|---|---|---|---|
| | 129827.26 NGN Check rates |
Instarem USD to
NGN rate: 1 USD = 446.142 NGN | 9 USD |
How Much is the US Dollar Exchange Rate in Nigerian Banks Today?
Today's USD-NGN Commentary
It has been two calm weeks for the USD-NGN exchange rate, with little fluctuations to talk about. Therefore, the difference between the current rate (USD 1 = NGN 460.493) and the average rate over the past 14 days is very small (a difference of only 0.06%). During the past two weeks, 1 USD gave you on average 460.2303 NGN, the current rate gives you 0.06% more. For a 500 USD transfer, it would be close to 131.38 NGN more arriving on the recipient's side.
Key facts about USD and NGN
About the US dollar
- Name:
- US dollar
- Symbol:
- $
- Minor unit:
- 1/100 Cent
- Central Bank:
- Federal Reserve Bank
- Countries:
- United States, American Samoa
- Rank in the most traded currencies:
- #1
About the Nigerian naira
- Name:
- Nigerian naira
- Symbol:
- ₦
- Minor unit:
- 1/100 Kobo
- Central Bank:
- Central Bank of Nigeria
- Country:
- Nigeria
Where To Get US Dollars Cheap in Nigeria?
Traditionally, large banks and black-market currency exchange counters sell US dollars — but at a very poor rate. International money transfer specialists almost always offer lower fees and better exchange rates.
To learn more about how companies like WorldRemit, Remitly, and Small World can send your money to Nigeria, read our article on how to receive money from abroad in Nigeria.
US dollars (USD) and Nigerian nairas (NGN) exchange rates with other main currencies
What is the Nigerian Bank Dollar Exchange Rate?
When large banks in Nigeria exchange naira for US dollars, and vice versa, they use the interbank exchange rate, also called the mid-market exchange rate. When you go to a bank counter to buy US dollars, the bank teller will buy your naira (NGN) and give you US dollars (USD) at a rate that is weaker than the mid-market exchange rate.
This is why our experts at Monito recommend that you use an international money transfer specialist to send US dollars. They offer lower fees and better exchange rates than traditional banks.
Run a search on our comparison engine to find the best provider for you:
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Photo by Fatima, Wikimedia Commons. 