How to Convert USD to Nigerian Naira To Your Advantage


In case you are in Nigeria, and you are looking for safe FOREX tips, this piece will do you good. You could be having cash regarding dollars; in this case, you need to have domestic currency. On the other hand, if you want to send money abroad, an international money transfer can be very expensive. To avoid this expense, you can use low-cost money transfer service. This method is far much cheaper than conventional banking and provides a broad selection of currencies.

You need to have right FOREX tips dollar to naira black market that will help you trade safely especially in situations where there is a conversation of Nigerian Naila to USD. The question which you are supposed to ask yourself is; is it the right time to change your currencies? It should be the time when the currency has reached the highest value. For instance in a recent most case, to be precise on Thursday 18th August 2016 where the exchange rate was 100.USD was trading at 35 036.58 Nigerian Naira. This is contrary to the worse days like on Friday 29th April 2016 where the exchange rate had significantly fallen to 100.00 USD was trading at 19 837.50 Nigerian Naira. It can be very traumatizing in case you lose or rather find it a great loss if you miss factoring in this.

There are several methods for converting Nigerian Naira to USD and vice versa. It all depends on the monetary form which you have. Additionally, a good FOREX broker will also tell you that it also depends on the frequency at which you receive and convert USD into local currency or the type of business which you do.
In case you occasionally change USD into Naira, FOREX bureaus can be suitable for you.

If you do international transactions or if you frequently receive USD, the easiest way to make the conversation is by the use of credit card. Credit cards which are sold as master cards can be loaded with USD, and you can withdraw them in Naira form. However, just as said before; you have to take advantage of the rates of exchange. When the rates are not favorable, just make minimum withdrawals and make large transactions when exchange rates a pleasant on your side. This is because credit cards use current market exchange rates. They also have inter bank rate benefits, unlike the foreign exchange bureaus .


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