Nigeria is among top 10 foreign remittance receiver in the world. Nigeria received over $20 billion in 2015. With this whooping remittance sum, the remittance market of Africa is quite competitive. While sending their hard-earned money back home, Nigerians do check for cost-effective, innovative and reliable platform for money transfer.
Exchange Rate IQ offers such a unified platform where one can find all available options to transfer money to Nigeria. It offers side-by-side comparison of all the options in terms of exchange rate, fee, transfer time etc. You can get an estimated value in Nigerian Naira (NGN) for your remittance amount beforehand. With all this information, you can make a better decision in choosing a remittance service provider.
Exchange Rate IQ aims to make money transfer to Nigeria much more transparent and cheaper. The innovative platform not only saves you money but also your time and energy in finding the best remittance option.
Current Exchange Rate(Mid Market) :- 364 NGN/USD
Mid-market Rate is a currency exchange rate. Usually traders in currency exchange market have two exchange rates -
- Selling exchange rate - at which sellers are willing to sell a particular currency and
- Buying exchange rate - at which buyers are willing to buy a particular currency.
Mid-market rate is the mid-point of these two rates. This is the most transparent and the most accurate exchange rate. It is also known as “Interbank Rate” or “Spot Rate” or “Real Exchange Rate”. This is the rate which independent sources like Reuter, Google etc show.
