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USD to NGN - US Dollar to Nigerian Naira Converter

Convert US Dollar to Nigerian Naira with daily ECB exchange rates

1 USD = ~1397.86 NGN (rates vary)

Rates verified daily from ECB official reference rates•Source: European Central Bank (16:00 CET daily)•For informational purposes only. Not financial advice.

Quick Insight

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

NGN is a volatile currency. Mental math is unreliable—always check live rates.

Rates can move 5-10% in a week. Use live converter for accuracy.

⚠️ Verify before exchanges📊 Track rate trends🔔 Set rate alerts

Common USD - NGN Conversions

Forex Market Hours

Sydney
22:00 - 07:00 UTC
Active
Tokyo
00:00 - 09:00 UTC
Closed
London
08:00 - 17:00 UTC
Closed
New York
13:00 - 22:00 UTC
Closed

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

These are typical recurring economic events. Actual dates, times, and market impacts may vary. This information is for general awareness only and should not be used as the sole basis for financial decisions. Always verify current schedules from official central bank sources.

Tips & Recommendations

  • 1Airport exchange bureaus often have higher markups (10-15%) compared to other options
  • 2ATMs with local bank cards typically offer rates closer to mid-market rates
  • 3Paying in local currency helps avoid dynamic currency conversion (DCC) fees
  • 4Notifying your bank before travel can help prevent unexpected card blocks

Frequently Asked Questions

Key drivers include US interest-rate decisions, Nigerian policy on dollar supply, oil price trends, inflation differentials, and global risk sentiment. Changes in any of these can shift the rate and affect trade costs.

Economic Context

Trading Relationship

The US and Nigeria trade across energy, agriculture, and services. USD/NGN prices influence imports from fuel to consumer goods and remittance costs tied to diaspora payments.

Key Rate Factors

  • •Federal Reserve policy and US inflation trends
  • •Central Bank of Nigeria exchange-rate management
  • •Oil price impacts on Nigeria's import needs
  • •Political stability and policy clarity
  • •Global risk sentiment and USD liquidity

Central Banks

Federal Reserve System
Washington, D.C., United States
Sets US monetary policy, guides inflation control, and manages funding for banks.
Central Bank of Nigeria
Abuja, Nigeria
Oversees Nigeria's monetary policy, exchange-rate framework, and financial system stability.

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