NGN to ZAR - Nigerian Naira to South African Rand Converter

Convert Nigerian Naira to South African Rand with real-time exchange rates

1 NGN = ~0.0114 ZAR (rates vary)

Quick Insight

This currency pair is highly volatile. Always check live rates before transactions.

This pair is volatile. Mental math is unreliable; check live rates before transfers.

Rates can shift 3-7% in a week. Rely on live converters for accuracy.

⚠️ Always verify before transactions📊 Monitor rate trends🔔 Set rate alerts

Common NGN - ZAR Conversions

Forex Market Hours

Sydney

22:00 - 07:00 UTC

Closed

Tokyo

00:00 - 09:00 UTC

Closed

London

08:00 - 17:00 UTC

Closed

New York

13:00 - 22:00 UTC

Active

Most volatile: London-NY overlap (13:00-17:00 GMT). Best spreads during high liquidity hours.

Upcoming High Impact Events

US Non-Farm Payrolls

First Friday of month

High Impact

USD pairs

ECB Rate Decision

Every 6 weeks

Medium Impact

EUR pairs

Tips & Recommendations

1Avoid airport exchange bureaus - markups can reach 10-15%
2Use ATMs with local bank cards for near mid-market rates
3Pay in local currency to avoid dynamic currency conversion (DCC)
4Notify your bank before travel to prevent card blocks

Frequently Asked Questions

Key drivers include central bank policy, inflation gaps, trade balances, commodity cycles, and risk sentiment. Exchange rate moves reflect shifts in liquidity, capital flows, and macroeconomic expectations across both economies.

Economic Context

Trading Relationship

Nigerian and South African economies engage in regional trade, with NGN/ZAR movements affecting trans-Saharan and southern Africa commerce. Rates influence pricing, invoicing, and cross-border liquidity between Lagos and Johannesburg.

Key Rate Factors

•Central bank policies in Nigeria and South Africa
•Inflation differentials and interest rate gaps
•Trade balances and commodity-linked demand
•Political stability and remittance flows
•Global risk sentiment and safe-haven demand for the USD

Central Banks

Central Bank of Nigeria

Abuja, Nigeria

Sets monetary policy, manages inflation, and regulates payment systems in the Nigerian economy.

South African Reserve Bank

Pretoria, South Africa

Monitors price stability, sets interest rates, and oversees financial sector stability in South Africa.

Exchange rates fluctuate continuously. This converter provides indicative rates for informational purposes. For large transactions, consult with a licensed financial professional.

Rates sourced from European Central Bank reference rates. ECB Reference Rates