The naira/real exchange rate is a big talking point for people moving money from Brazil to other countries. For some, it’s a nightmare. For others, it’s a dream come true. However you look at it, the naira/real exchange rate is a big deal.
If you’re moving money from Brazil to any other country, you’ll want to know how much money you’ll need to bring. Your total cash outflow will depend on how much you plan on spending in the new country. You’ll also need to know what the exchange rate is for your destination currency. If you have the Skills to Help, check out our job listings here.
If you’re moving money from Brazil to Nigeria and you’d like to know how much money in Brazilian Real is 1000 Naira, this article will help answer your question.
The Nigerian currency is the naira. The Brazilian currency is the real.
The exchange rate between the two currencies changes daily and varies depending on which bank or currency seller you talk to. But for the most part, a 1000 Naira equals about $3 (USD). That means that a 1000 Naira equals about 3 Brazilian Reals.
If you are moving money from Brazil to Nigeria, it’s important to know the naira/real exchange rate. For some people, it’s a nightmare. For others, it’s a dream come true. However you look at it, the naira/real exchange rate is a big deal.
Nigerian Naira and Brazilian Real are two of the most popular currencies in Africa and South America respectively. The Nigerian economy is largely dependent on oil production and exports, while Brazil has been one of the fastest-growing economies in the world for more than a decade.
The Nigerian National Bureau of Statistics reports that about 93% of the goods exported from Nigeria were sent to other African countries. Meanwhile, Brazil mainly exports commodities like soybeans and sugarcane to Asian countries like China and Japan.
In recent years, these two countries have undertaken very different strategies with their foreign exchange rates. While Nigeria has devalued its currency by 30% since 2017 to combat inflationary pressures and balance its budget deficit, Brazil raised interest rates in 2017 as an anti-inflationary measure and as a way to control excessive spending on imports from abroad (including oil).
That said, cash transfers between these two countries can be difficult if you don’t know how much money you will need in your destination currency or how much money you need to bring with you when transferring funds from Nigeria back home (or vice versa).
The naira/real exchange rate is a big talking point for people moving money from Brazil to other countries. For some, it’s a nightmare. For others, it’s a dream come true. However you look at it, the naira/real exchange rate is a big deal.
If you’re moving money from Brazil to any other country, you’ll want to know how much money you’ll need to bring. Your total cash outflow will depend on how much you plan on spending in the new country. You’ll also need to know what the exchange rate is for your destination currency.
If you have 1,000 Brazilian real, this is how much it will cost you in Nigerian naira.
1,000 Brazilian real * (0.0003 NGN/BRL) = 30.00 NGN
This means that your total cash outflow will be 30,000 Nigerian naira.
An exchange rate is the sum of currency that a country’s government will trade for another country’s currency. The value of a country’s currency is based on how much currency they have and how many people use it.
It’s important to know an exchange rate before you move money from Brazil to any other country, because you want to be able to estimate how much money you need when you arrive. You also want to know how much money you’ll have left over in the new country if your conversion rates are less favorable than what you anticipated.
The naira/real exchange rate depends on the attractiveness of Nigeria and Brazil's respective economies, as well as their current inflation rates. When either of these countries experiences major economic growth, it can increase their attractiveness in general and make them more appealing destinations for investment. This can cause their currencies to rise against others such as the real or US dollar.
If the naira continues its upward trajectory, then a mega-rich Nigerian could find themselves with half a million dollars worth of goods after arriving in Brazil - which would equal 634,000 Brazilian reals!
If you're looking to exchange Nigerian Naira for Brazilian Real, you might be interested in the following table.
In this table, you'll find the amount of Nigerian Naira to Brazilian Real according to today's exchange rate. The table also shows the conversion to Brazilian Real according to tomorrow's exchange rate.
The last column shows the percentage difference between today and tomorrow's rates.
Today Tomorrow Difference
1 NGN = 0.0003 BRL 1 NGN = 0.0003 BRL 0%
10,000 NGN = 30 BRL 10,000 NGN = 30 BRL 0%
100,000 NGN = 300 BRL 100,000 NGN = 300 BRL 0%
1,000,000 NGN = 3,000 BRL 1,000,000 NGN = 3,000 BRL 0%
10,000,000 NGN = 30,000 BRL 10,000,000 NGN = 30,000 BRL 0%
100,000,000 NGN = 300,000 BRL 100,000,000 NGN = 300,000 BRL 0%
1,000,000,000 NGN = 3
