1 NGN = 0.0023 SAR
1 SAR = 434.7826 NGN
(Mid-market exchange rate)
Last updated Dec 13, 2024 06:54 GMT
Below is the live and historical Nigerian Naira to Saudi Riyal rate chart so you can see today's rate - and how the rates have changed over time.
1 NGN = 0.0023 SAR
Stat | Last 7 days | Last 30 days | Last 90 days | Last year | Selected period on chart |
---|---|---|---|---|---|
High | 0.0025 | 0.0025 | 0.0025 | 0.0048 | 0.0025 |
Low | 0.0022 | 0.0022 | 0.0022 | 0.0022 | 0.0022 |
Average | 0.0023 | 0.0022 | 0.0022 | 0.0027 | 0.0022 |
Volatility | 13.64% | 13.64% | 13.64% | 118.18% | 13.64% |
1 NGN is worth 0.0023 SAR today
At the current exchange rate of 0.0023 , a sum of 1,000 Nigerian Naira is worth 2.3 Saudi Riyal.
The Saudi Riyal is currently stronger than the Nigerian Naira given that 1 SAR is equal to 434.7826 NGN. Conversely, 1 NGN is worth 0.0023 SAR.
Today, to buy 1,000 Nigerian Naira, you need 2.3 Saudi Riyal. On the same date last year, you needed 4.7 Saudi Riyal for 1,000 Nigerian Naira. This change indicates that the Nigerian Naira has lost value against the Saudi Riyal by 51.06% over the past year.
The pair experienced high volatility of 118.18%.
High volatility means there is a higher risk of significant price changes. It is better to closely monitor the exchange rate in such situations.
Today's NGN to SAR exchange rate (0.0023) is higher compared to yesterday's rate (0.0022).
1 NGN | 0.00230 SAR |
5 NGN | 0.01150 SAR |
10 NGN | 0.02300 SAR |
20 NGN | 0.04600 SAR |
25 NGN | 0.05750 SAR |
50 NGN | 0.11500 SAR |
100 NGN | 0.23000 SAR |
250 NGN | 0.57500 SAR |
500 NGN | 1.15000 SAR |
1,000 NGN | 2.30000 SAR |
2,000 NGN | 4.60000 SAR |
5,000 NGN | 11.50000 SAR |
10,000 NGN | 23.00000 SAR |
1 SAR | 434.78261 NGN |
5 SAR | 2,173.91304 NGN |
10 SAR | 4,347.82609 NGN |
20 SAR | 8,695.65217 NGN |
25 SAR | 10,869.56522 NGN |
50 SAR | 21,739.13043 NGN |
100 SAR | 43,478.26087 NGN |
250 SAR | 108,695.65217 NGN |
500 SAR | 217,391.30435 NGN |
1,000 SAR | 434,782.60870 NGN |
2,000 SAR | 869,565.21739 NGN |
5,000 SAR | 2,173,913.04348 NGN |
10,000 SAR | 4,347,826.08696 NGN |
The currency code for Nigerian Naira is NGN.
The NGN currency symbol is ₦.
Minor unit: 1/100 = Kobo
NGN rank by most traded currencies: Not in top 40 traded currencies
Avg proportion of daily world trade volume: 0% (Low daily trade currency)
NGN rank by strongest currencies (buying power): 121
The Nigerian Naira is the currency of 1 countries:
Nigeria
The currency code for Saudi Riyal is SAR.
The SAR currency symbol is ﷼.
Minor unit: 1/100 = Halala
SAR rank by most traded currencies: 30
Avg proportion of daily world trade volume: 0.10%
SAR rank by strongest currencies (buying power): 35
The Saudi Riyal is the currency of 1 countries:
Saudi Arabia
Let's look at some practical information, ideas and tips to help you make sure you can get the most from your money when you convert Nigerian Naira to Saudi Riyal, to send a payment, for a trip overseas, when shopping online or to hold a balance in Saudi Riyal.
You can convert Nigerian Naira to Saudi Riyal either in a physical location or online. If you choose to exchange money at a currency exchange store, bank or at the airport, you'll be given your Saudi Riyal in cash. Or, you can choose to convert digitally, to send a payment overseas for example.
If you're exchanging money in a physical location you'll usually need to take the following steps:
Exchanging your money digitally is often easier. As an example, here's how to send a payment overseas:
Because banks, currency exchange offices and international payment services all set their own exchange rates, you'll need to shop around a little to find the best NGN to SAR exchange rate for your specific transaction.
Get to know the NGN/SAR mid-market exchange rate using reputable currency conversion tools, so you'll be able to see how the market is trending. You can often set up rate alerts so the service you choose will send you a message when the NGN/SAR mid-market exchange rate hits your preferred level. Once you see a rate you like, act fast to complete your transaction before markets move again.
Another smart option is to open a multi-currency account which lets you hold a selection of major world currencies, often including Nigerian Naira and Saudi Riyal. This can be helpful if you transact internationally often, live overseas, receive payments from abroad, invest in diverse markets or even if you simply love to shop online with international retailers. Because you can hold a balance in the currency or currencies of your choice, there's no need to convert from one currency to another unnecessarily - you can wait until exchange rates are favorable to avoid losing out.
You'll be able to exchange Saudi Riyal to Nigerian Naira in the same way as you'd exchange Nigerian Naira to Saudi Riyal. If you have Saudi Riyal in your pocket in cash, you can take them along to a currency exchange service and ask if they'll buy back in exchange for Saudi Riyal. Be aware that the exchange rate might not be great - so coming back from a trip with as little foreign cash as possible is a smart plan.
On the other hand, if you hold Nigerian Naira in a bank or specialist provider account, you'll be able to take advantage of online currency exchange services which can often offer fast, efficient and good value conversion which uses a better rate than a bank would.
You can exchange currencies in person at a currency exchange store, bank or airport, or use an online service instead. It's helpful to know that in person currency exchange options can offer a pretty poor deal overall, as exchange rates commonly include a markup - an extra fee. If you're exchanging somewhere with little local competition - like at an airport or hotel, for example - the chances are that the rate you get will be even worse.
A good alternative is to open a multi-currency account which lets you hold and exchange currencies digitally - and if you pick an account which also offers a linked debit card, you can make ATM withdrawals at home and abroad whenever you need cash. Digital specialist services can often offer a better exchange rate with lower overall costs compared to using your bank or exchanging cash in person - plus they're intuitive to use and let you manage your money with just your phone.
NGN | USD | EUR | PHP | GBP | DZD | EGP | MXN | INR | |
---|---|---|---|---|---|---|---|---|---|
To NGN | - | 1,641.55000 | 1,717.96000 | 28.06790 | 2,077.79000 | 12.28690 | 32.30600 | 81.18130 | 19.34900 |
To USD | 0.00061 | - | 1.04652 | 0.01710 | 1.26635 | 0.00748 | 0.01968 | 0.04947 | 0.01179 |
To EUR | 0.00058 | 0.95555 | - | 0.01635 | 1.21003 | 0.00715 | 0.01881 | 0.04728 | 0.01127 |
To PHP | 0.03563 | 58.48000 | 61.15760 | - | 73.97210 | 0.43776 | 1.14902 | 2.88354 | 0.68737 |
To GBP | 0.00048 | 0.78967 | 0.82643 | 0.01352 | - | 0.00591 | 0.01554 | 0.03907 | 0.00931 |
To DZD | 0.08139 | 133.60200 | 139.73400 | 2.28618 | 169.10700 | - | 2.62931 | 6.60716 | 1.57473 |
To EGP | 0.03095 | 50.81260 | 53.15240 | 0.87031 | 64.33280 | 0.38039 | - | 2.51259 | 0.59880 |
To MXN | 0.01232 | 20.21290 | 21.15060 | 0.34680 | 25.59210 | 0.15130 | 0.39800 | - | 0.23831 |
To INR | 0.05168 | 84.83880 | 88.74170 | 1.45482 | 107.41000 | 0.63502 | 1.67002 | 4.19630 | - |
The Nigerian Naira to Saudi Riyal exchange rate today is 0.0023 . Use this guide to learn more about exchanging NGN to SAR in the easiest and best value way for your specific needs.
The NGN to SAR rate today is 0.0023 . That means that 1,000 Nigerian Naira would be worth 2.3 Saudi Riyal.
Exchange NGN to SAR in person at a bank, currency exchange store or airport - or for a better exchange rate and to avoid standing in line in a physical store, use a digital service. Online currency exchange services are safe, intuitive and easy to use, to send payments internationally, or hold and exchange multiple currencies including NGN to SAR.
If you want to send money from Nigeria - or anywhere else in the world - to Saudi Arabia, you'll be able to do so through your bank or an online specialist service like Wise. Specialist international money transfer services can often offer better exchange rates and lower overall costs for payments to Saudi Arabia - plus, you'll be able to get everything arranged with just your laptop or phone.
The mid-market exchange rate is the rate that banks and currency exchange services get when they buy and sell currencies like Saudi Riyal and Nigerian Naira on wholesale markets. It's an important benchmark you can use to measure whether the exchange rate you're offered by a bank or exchange service is fair.
Usually banks and exchange services add a percentage margin - known as a markup - to the exchange rate they get themselves. But this markup can vary a lot, and in some cases pushes up the cost of currency exchange significantly. Learning about the mid-market rate and monitoring it can mean you get a better deal when you exchange currencies.
Get the live Nigerian Naira to Saudi Riyal exchange rate with our handy tools, to help you compare your options.
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