Nigerian Naira

Nigerian Naira

The naira (sign: ₦; code: NGN) is the currency of Nigeria. It is subdivided into 100 kobo. The Central Bank of Nigeria (CBN) is the sole issuer of legal tender money throughout the Nigerian Federation. It controls the volume of money supplied in the economy in order to ensure monetary and price stability. The Currency & Branch Operations Department of the CBN is in charge of currency management, through the procurement, distribution/supply, processing, reissue and disposal/disintegration of bank notes and coins.

US Dollar

US Dollar

The United States dollar (sign: $; code: USD; also abbreviated US$ and referred to as the dollar, U.S. dollar, or American dollar) is the official currency of the United States and its territories per the United States Constitution since 1792. For most practical purposes, it is divided into 100 smaller cent (¢) units, but is occasionally divided into 1000 mills (₥) for accounting purposes. The circulating paper money consists of Federal Reserve Notes that are denominated in United States dollars (12 U.S.C. § 418). Since the suspension in 1971 of convertibility of paper U.S. currency into any precious metal, the U.S. dollar is, de facto, fiat money. As it is the most used in international transactions, the U.S. dollar is the world's primary reserve currency. Several countries use it as their official currency, and in many others it is the de facto currency. Besides the United States, it is also used as the sole currency in two British Overseas Territories in the Caribbean: the British Virgin Islands and Turks and Caicos Islands. A few countries use the Federal Reserve Notes for paper money, while still minting their own coins, or also accept U.S. dollar coins (such as the Sacagawea or presidential dollar). As of June 27, 2018, there are approximately $1.67 trillion in circulation, of which $1.62 trillion is in Federal Reserve notes (the remaining $50 billion is in the form of coins).

363 Nigerian Naira to US Dollar exchange rates chart

363 NGN to USD exchange rates graph
363 NGN to USD Spot rate – This is known more formally as the ‘interbank’ rate. It is the rate banks or large financial institutions charge each other when trading significant amounts of foreign currency. In the business, this is sometimes referred to as a ‘spot rate’. It is not the tourist rate and you cannot buy currency at this rate, as you are buying relatively small amounts of foreign currency. In everyday life it is the same as the difference between wholesale and retail prices. The rates shown in financial newspapers and in broadcast media are usually the interbank rates.

363 NGN to USD exchange rates table

Exchange NGN to USD
363 Nigerian Naira = 1.000 US Dollar
726 Nigerian Naira = 2.000 US Dollar
1815 Nigerian Naira = 5.000 US Dollar
3630 Nigerian Naira = 10.000 US Dollar
Exchange Nigerian Naira to US Dollar
363 Nigerian Naira to US Dollar Cross rate – This is the rate we give to customers who want to exchange currencies that do not involve the local currency. For example, if you want to exchange Australian dollars into US dollars.

363 NGN to USD exchange rates news

Bribes, beatings and gridlock at ports choke Nigeria's economy | IOL Business Report

Nigeria loses $19 billion annually, or about 5 percent of gross domestic product, from the delays, traffic, illegal charges and insecurity.

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Naira appreciates against dollar at parallel market
Naira appreciates against dollar at parallel market

The Naira on Tuesday appreciated against the dollar at the parallel market, exchanging at N360 to the dollar, stronger than N361 posted on Monday.

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An Ode To Nigerian Home Video Entertainment

Before the evolution of Nollywood around the mid-‘00s, the film industry operated on the blissfully simple method of the home video system. It was the only route for filmmakers to showcase their works, VHS tapes spooled in black casings. Or perhaps you remember them as cassettes and all you needed to have was a television […]

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US Dollar Losses Hit Pause after October CPI; Focus Remains on Brexit

The DXY Index is off the lows, and rates markets are continuing to price in December for another rate hike from the Fed.

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Pound-to-US-Dollar Exchange Rate: GBP/USD Starts The Week On Soft Footing As Brexit Anxiety Mounts

Brexit speculation failed to prevent the GBP/USD exchange rate sinking at the start of the week

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Pound US dollar exchange rate: GBP retreats as Brexit text faces Cabinet scrutiny

THE pound US dollar exchange rate has fallen as much as 0.5 per cent this morning, slumping from a high of $1.302 to the current rate of $1.295 as Brexit jitters weigh on sentiment.

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363 NGN to USD currency converter