Short answer
For naira to dollar, type an amount, keep NGN as the starting currency, and see what it is worth in dollars, or in any other listed currency, at a reference rate updated daily. Use the dollar figure in the lot and margin calculators, since most trading accounts run in USD. It is a reference rate, not the parallel-market (black-market) rate or the rate your bank or broker will apply.
Major currency cross rates
On this page
Why convert naira to dollar first?
Most trading accounts are opened in US dollars, while you deposit in naira, shillings or rand. That’s why the calculators on this site work in dollars. Convert your balance here, from naira to dollar or from shillings or rand, then use the result in the lot size calculator or the gold lot size calculator.
Where the rates come from
The rates are reference rates from a public data provider, updated once a day; the date of the last update is shown under the result. They are fine for planning, not a quote you can trade or deposit at.
To go the other way, from dollar to naira, tap the swap button (⇄). The result uses the same daily reference rate. It is not the parallel-market rate (often called the black-market or “aboki” rate) quoted by street dealers, and it is not the rate your bank or broker will give you.
Why the amount that lands in your account differs
- Your broker’s or bank’s exchange rate is usually different from the reference rate.
- Deposit and withdrawal fees may be taken, depending on the method and country.
- In some countries more than one exchange rate is in use. The converter shows the reference rate only.
Always check the final dollar amount on the deposit screen before you confirm.