USD to NGN Exchange Rate Today
US Dollar to Nigerian Naira conversion for Nigerian diaspora in America. Track live USD/NGN rates for remittances, family support, or Lagos business transactions.
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Mid-Market Rate
After Fees
Exchange rate: Real-time mid-market rate from OpenExchangeRates API. Transfer fees: Based on typical provider fees.Note: Providers may offer different exchange rates than the mid-market rate shown. Always check the provider's website for their actual exchange rate and final pricing before sending.
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Frequently Asked Questions
What is the US Dollar to Nigerian Naira exchange rate?
USD to NGN rates have surged from ₦400 to ₦1,600+ per dollar following the 2023 naira unification—one of Africa's most dramatic currency depreciations. With 400,000+ Nigerian-Americans (largest African diaspora in the US), this is America's key African remittance channel. The CBN's 2023 reforms collapsed multiple exchange windows into a single I&E-determined rate, but parallel markets persist with 5-10% premiums. Houston, New York, and Texas-based Nigerians must verify rates constantly as intraday volatility can reach 3-5%. Our platform delivers real-time mid-market pricing via OpenExchangeRates, updated every 30 minutes.
How can Nigerians in America send money home?
Nigerian-Americans leverage America's diverse remittance infrastructure: Remitly (strongest US-Nigeria integration, instant bank deposits), WorldRemit (direct to GT Bank, Zenith, Access), SendWave (rock-bottom fees), Wise (transparent but NGN limited); MoneyGram/Western Union (expensive but ubiquitous Nigerian pickup); or crypto (peer-to-peer stablecoin transfers). Houston, New York, Texas, and Atlanta communities should verify final NGN amounts—naira's 2023 crash means provider spreads vary significantly. Mobile rate-tracking apps alert users to optimal conversion windows.
Why is the naira so volatile against the dollar?
The naira's extreme volatility reflects Nigeria's oil revenue dependence (petroleum funds 90% of forex earnings), creating vulnerability to crude price shocks. The CBN's 2023 unification reforms collapsed multiple exchange windows but parallel markets persist—official vs street rates often differ 10-15%. Chronic forex scarcity, persistent 15-25% inflation, and structural fiscal deficits compound instability. For Nigerian-Americans remitting $25B annually, this volatility makes rate timing critical—catching favorable windows can boost family support by 10-20%.
Do US banks offer naira transfers?
Most US banks don't directly transfer to NGN accounts or offer poor rates. Major banks (Wells Fargo, Bank of America, Chase) may do international wires to Nigerian banks but charge $40-50 fees plus poor exchange rates. Dedicated remittance services are far better: Remitly, WorldRemit, or SendWave offer direct NGN transfers to Nigerian bank accounts, mobile money, or cash pickup with fees of $2-10 and competitive rates—saving 40-60% compared to banks.
When is the best time to send dollars to Nigeria?
Houston Nigerians sending $1,000 monthly maximize value when dollar exceeds ₦800, gaining ₦800K versus ₦600K at ₦600—critical during naira crises. Nigerian Americans (400,000+ community, largest African diaspora) remit $25B annually to Lagos, Abuja, Port Harcourt families. Naira volatility (2023 unification crashed from ₦460 to ₦900) creates timing opportunities. Converting at ₦800 rather than ₦600 saves ₦200K monthly on $1K remittances—substantial for Texas or New York Nigerian diaspora funding family expenses, Lagos property (Lekki, VI, Ikoyi), or business capital during CBN reforms and oil market shifts.