Naira Value Calculator
What is your money worth? Tell us what you have and what you want to do, and see the parallel and official reference values side by side.
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Calculator
Optional: enter an offer you have been quoted, to see how it compares with the references.
Enter an amount to see what it is worth.
Go Deeper
How the Calculator Works
You give us an amount in a foreign currency and tell us what you want to do with it. The calculator then looks at two references for that currency: the parallel market reference, which is the average of published parallel market quotes, and the official reference, an interbank rate from Open Exchange Rates. It shows both, the difference between them for your amount, and the range of quotes behind the parallel figure.
Changing the option changes which side of the quote range applies and which extra figures you see. The "Plan for" figures use the range, so you can budget for a worse outcome rather than only the average.
What Each Option Does
- Receive naira: you hand over foreign currency and receive naira. Dealers pay at the lower end of the quotes, so the calculator shows the average and the low-to-high range and tells you how much to plan for at the low end.
- Buy currency: you pay naira to buy foreign currency. Dealers charge at the higher end, so the calculator shows what it could cost at the average and at the highest quote.
- Send money to Nigeria: someone abroad sends money and the recipient gets naira. You can enter a provider's rate and fee to see the effective rate and how much the offer falls short of the reference.
- Pay school fees: the fees are priced in foreign currency. Besides the cost, you see what-if scenarios showing how the naira cost would change if the rate were a few percent higher or lower.
- Travel: the same cost view for a travel budget, with a cushion equal to the gap between the average and the highest quote.
- Compare rates: every rate level side by side, with an optional offer of your own added to the table.
Reading the Difference
The difference is the parallel reference result minus the official reference result for your amount. When you are receiving naira, a positive difference means the parallel reference gives you more naira. When you are buying or paying, a positive difference means the parallel reference costs more. The percentage shows the same gap relative to the official reference.
Comparing a Transfer Offer
For sending money, enter the rate a provider quoted and any fee. The calculator works out the total you pay (the amount plus the fee), what the recipient gets (the amount times the provider's rate), the effective rate (what the recipient gets divided by the total you pay), and how far the offer falls short of the parallel and official references. Fees and exchange-rate margins both reduce what arrives, so the effective rate is the fairest way to compare offers.
School Fee Scenarios
The what-if table shows the naira cost of the same fees if the rate were 1%, 2% or 5% higher or lower than the reference. These are sensitivity checks, not predictions. They show how much room to leave in a budget, and they say nothing about where the rate is heading.
Frequently Asked Questions
How much is my foreign currency worth in naira?
Enter the amount, choose the currency and choose what you want to do. The calculator shows the parallel market reference, the official reference and the difference between them, with the range across quotes and figures specific to your choice.
Why do the results change when I pick a different option?
Each option uses the side of the quote range that applies to it. Receiving naira uses the lower end because dealers pay less than the average, while buying currency, paying school fees and travelling use the higher end because dealers charge more. Some options also add extra figures, such as provider comparison or what-if scenarios.
What is the difference between the parallel reference and the official reference?
The parallel reference is the average of published parallel market quotes. The official reference is an interbank rate from Open Exchange Rates, not a Central Bank of Nigeria publication. The difference shows how far apart the two are for your amount.
Which rate will I actually get?
That depends on who you deal with, where, how you pay, how much you exchange and when. Treat the parallel and official references as a range to ask questions from, and confirm the exact rate and total with your bank or a licensed bureau de change.
Is the official reference available to me?
Not necessarily. Banks apply official rates to documented, regulated transactions, so the official reference is a comparison for context and not a promise that you can transact at that rate.
Are the school fee scenarios predictions?
No. They show what the same fees would cost if the rate were a few percent higher or lower, so you can see how sensitive the cost is. They say nothing about where the rate is heading.
Which currencies are supported?
The US dollar, British pound, euro and Canadian dollar are available whenever at least two quotes from two different websites exist for them. A currency without enough quotes is not offered, so that we never show a figure built on a single quote.
Can I use these figures for a payment, invoice or accounting?
No. They are indicative references for planning and sense-checking. Use the rate on your invoice or your bank's rate for formal payments, accounting and tax purposes.
