Did you know that the average Nigerian spends about NGN 7,500 on gifts and presents on their birthday? More importantly, this doesn’t even count the total amount they spend on gifts and presents on other occasions.If you’re also a Nigerian, then you know that this means that you should have at least 50000 naira to your name to be able to give as a gift.On top of that, you should also know how to exchange 5000 naira to the US dollar. In this article, we’ll be discussing how much $50000 is in naira, how to exchange 5000 naira to the USD, and how you can easily convert your naira to USD at a good rate.
One US dollar is equivalent to 6.3 naira as of December 2018. The USD to Naira exchange rate fluctuates with the market price of the USD and the demand for naira, so it’s better to check the current exchange rate before you exchange money.
Naira (pronounced “na-eye-ra”) is the official currency in Nigeria and the African Union. 1 naira is subdivided into 100 sen.
If you have 5000 naira to your name and you want to exchange it for USD, you can use a money transfer service like Western Union or Xoom. These services charge a fee for each transaction, so make sure that you’re getting a good exchange rate.
Another option is to convert your naira to bitcoin or Ethereum and then use a bitcoin or Ethereum exchange to trade your coins for USD. You’ll have to do some research to find out which exchanges accept naira as a method of payment and have good exchange rates. Once you have your coins, you can use them to buy goods and services online or sell them to get money into your bank account.
Five million naira is equal to $50000. That means that you need to have at least 20000 naira in your savings account to have enough money to give as a gift on a person’s birthday.
If you have 5000 naira in your local currency, you can exchange it to the USD at any local bank. Look for a bank that offers the best exchange rate and has good customer reviews. While you’re there, make sure to open a savings account that has at least 5000 USD to cover any large purchases you might need to make.
If you want to exchange your money on a more permanent basis, you can also visit a currency exchange in your area. These exchanges generally charge a fee for their services, but you can often find ones that offer good exchange rates.
Naira to dollar conversion is easy if you have 5000 naira in your local currency and you want to exchange it for USD. You can also use your naira to buy things online or in person with bitcoin or Ethereum.
You should always keep track of the exchange rates and make sure to convert your naira to USD as close to the date you need to give the gift as possible. This way, you’ll have the most accurate number to work with.
