Nigeria currency to usd

In Nigeria, it can be hard to know just how much the notes in your wallet are worth. The official exchange rate for the country's currency, the naira, is around 305 to the dollar. But banks lend to each other at a second rate. A third rate is used by international money transfer companies. Perhaps the most important rate is the one found on the black market (currently 380). Oil money Collapsing oil prices have heaped pressure on the naira. The country's central bank maintained a peg of roughly 200 against the dollar until June of last year. But then, as dollar reserves ran dry, the government changed tack and devalued the currency. The naira immediately plunged 30%. Since then, the central bank has intervened to keep the currency's official rate from depreciating further. Speculation runs wild on the black market, however. The naira hit a record low against the dollar of around 520 earlier this year, according to Abdullahi Abdulakeem Abdullahi, CEO of currency trading company Abu Ya'asir International. The exchange rate has since rebounded along with the price of crude. Dollar shortage Nigeria is suffering from a major shortage of dollars. Why are dollars needed? Nigeria exports plenty of oil, but it relies on shipments from abroad to source basic household items and food. Nigerian importers need to pay these foreign companies in their home currencies. But dollars and euros are in short supply. That's because anyone with foreign currency is trying to hold onto it -- a bet ...

Nigerian Naira US Dollar 0.001612 USD 10 NGN 0.016116 USD 0.161161 USD 200 NGN 0.322322 USD 300 NGN 0.483483 USD 400 NGN 0.644644 USD 500 NGN 0.805805 USD 1.61161 USD 5,000 NGN 8.058052 USD 10,000 NGN 16.116103 USD 100,000 NGN 161.161 USD 1,000,000 NGN 1,611.61 USD US Dollar Nigerian Naira 620.497 NGN 10 USD 6,204.97 NGN 62,049.74 NGN 200 USD 124,099.48 NGN 300 USD 186,149.22 NGN 400 USD 248,198.96 NGN 500 USD 310,248.7 NGN 620,497.39 NGN 5,000 USD 3,102,486.95 NGN 10,000 USD 6,204,973.9 NGN 100,000 USD 62,049,739 NGN 1,000,000 USD 620,497,390 NGN Date NGN USD Change Friday 06-16-2023 1 NGN 0.00161161 USD 0.0000000093 Thursday 06-15-2023 1 NGN 0.0016116 USD 0.0005366567 Wednesday 06-14-2023 1 NGN 0.00214826 USD 0.0000121281 Tuesday 06-13-2023 1 NGN 0.00216039 USD 0.0000022033 Monday 06-12-2023 1 NGN 0.00216259 USD 0.000000031 Sunday 06-11-2023 1 NGN 0.00216262 USD 0.0000074494 Saturday 06-10-2023 1 NGN 0.00215517 USD - We use quotation information as of 06-16-2023 01:42 AM ET to calculate the conversion rate of two currencies. Specified values are considered average but can match the rates of specific financial organizations. To get a result, you only need to: • indicate an amount of money to convert in the window with Nigerian Nairas; • wait for automatic NGN to USD conversion. With the help of this tool, you can convert any amount of Nigerian Nairas into US Dollars in a few seconds. •

Nigeria’s local currency unit is set to weaken further next year as its current exchange rate to the dollar is well above fair value, according to Bank of America. Three indicators -- the widely-used black-market rate, the central bank’s real effective exchange rate, and “our own currency fair value analysis” -- shows the naira is 20% overvalued, economist Tatonga Rusike said in a note to clients on Tuesday. “We see scope for it to weaken by an equivalent amount over the next six-nine months, taking it to as high as 520 per USD,” Rusike said.

ABUJA, June 7 (Reuters) - Nigeria's central bank allowed the naira to drop about 2% on the official market to a record low on Wednesday, but the currency's rate remained above where it trades at central bank auctions and on the black market. Nigeria is trying to find a way to unify its multiple exchange rate system, used to keep the naira artificially strong. New President Bola Tinubu told members of his governing party last week that the country would not have multiple exchange rates anymore. The naira fell as low as 475 naira to the U.S. dollar from Tuesday's trades of around 465 naira, before recovering to 466 naira. Traders said the central bank had allowed them to trade the currency as weak as 475 naira to the dollar on the official market, outside a previous band of 460 to 467 naira to the dollar. In the past, the bank has allowed the naira to weaken in 5 naira increments. The central bank has been adjusting the naira gradually on the official market to avoid a large-scale devaluation. The bank sold the dollar at Last Thursday, the central bank

Nigerian Naira to US dollar exchange rate. Check live NGN to USD exchange rates chart, history Nigerian Naira to US dollar exchange rates data in charts and detailed tables. Accurate exchange rates updates in live mode, so all information are fresh. Below you'll find both exchange rates NGN/USD and inverse USD/NGN. If you want to convert the values of each currency, it's very comfortable to use real time NGN to USD converter aside. In NGN/USD chart you can do analysis and make some decisions: keep, sell or buy your wanted currency. In this page you'll also find basic information about Nigerian Naira and US dollar currency, banknotes and their coins. Don't forget, if you have any questions about Nigerian Naira or US dollar exchange rates, currencies future, denominations of banknotes validity - just ask or read already answered questions at the bottom of this page. NGN to USD exchange rate is published here and is very accurate, updating 24/7 with live exchange rates. Conversion of 1 ngn to usd displayed in three ways: 1 ngn to usd exchange rate, ngn to usd converter and ngn to usd live and history chart. Also you can see Nigerian Naira to United States Dollar and United States Dollar to Nigerian Naira prepared conversions. Convert 1 NGN to USD, but you can you go to full

NGN to USD Conversion Table NGN [Nigerian Naira] USD [United States Dollar] 0.01 Nigerian Naira 2.14823E-5 United States Dollar 0.1 Nigerian Naira 0.0002148228 United States Dollar 1 Nigerian Naira 0.0021482277 United States Dollar 2 Nigerian Naira 0.0042964554 United States Dollar 3 Nigerian Naira 0.0064446831 United States Dollar 5 Nigerian Naira 0.0107411386 United States Dollar 10 Nigerian Naira 0.0214822771 United States Dollar 20 Nigerian Naira 0.0429645542 United States Dollar 50 Nigerian Naira 0.1074113856 United States Dollar 100 Nigerian Naira 0.2148227712 United States Dollar 1000 Nigerian Naira 2.1482277121 United States Dollar How to Convert NGN to USD 1 Nigerian Naira = 0.0021482277 United States Dollar 1 United States Dollar = 465.5 Nigerian Naira Example: convert 15 Nigerian Naira to United States Dollar: 15 Nigerian Naira = 15 × 0.0021482277 United States Dollar = 0.0322234157 United States Dollar Popular Currency Conversions • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • Convert NGN to Other Currency Units