USD to NGN Exchange Rate Today
US Dollar to Nigerian Naira conversion for Nigerian diaspora in America. Track live USD/NGN rates every 30 minutes for remittances, family support, or business transactions to Lagos, Abuja, Port Harcourt—navigating Nigeria's evolving forex landscape.
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Frequently Asked Questions
What is the US Dollar to Nigerian Naira exchange rate?
The USD to NGN rate has been volatile, ranging from 400-1,600+ NGN per USD in recent years due to Nigeria's complex exchange rate system. Nigeria operates both official and parallel (black market) rates. The Central Bank of Nigeria (CBN) has implemented various currency reforms. For the 400,000+ Nigerian-American community, checking real-time rates is crucial before transfers. Our converter shows current mid-market rates updated every 30 minutes from OpenExchangeRates.
How can Nigerians in America send money home?
Nigerian-Americans have several remittance options: specialized services like Remitly (good for Nigeria, bank/cash pickup), WorldRemit (mobile money to GT Bank, Zenith, etc.), SendWave (low fees, popular for Nigeria), Wise (transparent pricing but limited for NGN); traditional MoneyGram/Western Union (high fees, wide agent network); or crypto (some use stablecoins for peer-to-peer). For Lagos, Abuja, Port Harcourt, Kano transfers, compare rates carefully—naira volatility means differences can be significant.
Why is the naira so volatile against the dollar?
NGN volatility stems from: Nigeria's oil-dependent economy (oil exports fund 90% of forex), CBN policy changes and multiple exchange rate windows, forex scarcity in official markets forcing parallel market premiums, inflation pressures (often 15-25%+), and structural economic challenges. The 2023 naira unification attempted to address this by moving toward a single rate. For diaspora sending remittances, this volatility means timing and rate-checking matter significantly.
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?
Given naira volatility, timing matters. Watch for: CBN policy announcements, oil price movements (higher oil = stronger naira), official vs parallel rate convergence, and inflation reports. For regular family support, consistent monthly transfers average out volatility. For large transfers (land purchase, building projects, business capital), send when naira is weak (high USD/NGN rate) to maximize naira received. Many Nigerian-Americans use rate alert apps.