Understanding the exchange rate between the Nigerian Naira (NGN) and the US Dollar (USD) is crucial for international transactions, investments, and financial planning. This article provides an overview of the current exchange rate, historical trends, and tools for converting NGN to USD.
As of November 6, at 3:50 PM UTC, ₦1,000,000.00 (one million Naira) is currently worth $695.51. This conversion is based on the mid-market exchange rate, which is used for informational purposes.
It's important to note that you likely won't receive this exact rate when sending money through a specific service, as exchange rates and fees can vary depending on the provider and payment method.
Current NGN to USD Exchange Rate
Currently, 1 Nigerian Naira is worth approximately $0.000696. To get an idea of different amounts, here's a quick reference table:
- 0.5 NGN: $0.000348
- 1 NGN: $0.000696
- 5 NGN: $0.0035
- 10 NGN: $0.0070
- 50 NGN: $0.0348
- 100 NGN: $0.0696
- 500 NGN: $0.35
- 1,000 NGN: $0.70
Conversely, here's how much NGN you can get for USD:
Read also: What to Buy with 40 Million Naira
- 0.5 USD: NGN 718.80
- 1 USD: NGN 1,437.60
- 5 USD: NGN 7,188.00
- 10 USD: NGN 14,376.00
- 50 USD: NGN 71,880.00
- 100 USD: NGN 143,760.00
- 500 USD: NGN 718,800.00
- 1,000 USD: NGN 1,437,600.00
Historical NGN to USD Exchange Rate Trends
Analyzing historical exchange rates can provide valuable insights into the volatility and potential future movements of the NGN/USD pair. Here's a summary of recent trends:
In the past 30 days, the NGN to USD exchange rate reached a high of 0.0007017 and a low of 0.0006805, with an average rate of 0.0006866. Over the last 90 days, the NGN to USD exchange rate peaked at 0.0007017 and dipped to a low of 0.0006511, averaging 0.0006704.
Compared to last year, the exchange rate has changed. On this day last year, ₦1,000,000.00 would have been exchanged for $595.75, $99.76 lower than today’s rate. The most favorable exchange rate over the past seven days was $695.51.
NGN to USD Exchange-Rate Statistics
Here is a table summarizing the NGN to USD exchange-rate statistics over the last 7, 30, and 90 days:
| Statistic | Last 7 Days | Last 30 Days | Last 90 Days |
|---|---|---|---|
| High | 0.00070158 | 0.00070158 | 0.00070158 |
| Low | 0.00068654 | 0.00067767 | 0.00064990 |
| Average | 0.00069275 | 0.00068488 | 0.00066866 |
| Volatility | 0.79% | 0.43% | 0.35% |
Currency Information
Read also: ₦500,000,000 to USD Conversion
The currency code for Nigerian Nairas is NGN. The currency symbol is ₦. Our currency rankings show that the most popular Nigerian Naira exchange rate is the NGN to USD rate.
The currency code for US Dollars is USD. The currency symbol is $. Our currency rankings show that the most popular US Dollar exchange rate is the USD to USD rate.
Tools and Resources for Currency Conversion
Several tools and resources are available to help you convert NGN to USD and stay informed about exchange rate fluctuations:
- Online Currency Converters: Use online converters to quickly calculate the value of NGN in USD.
- Rate Alerts: Set up rate alerts to receive notifications when the exchange rate reaches your desired level.
- Historical Currency Rates: Analyze rate trends over time to make informed decisions.
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