Hi, iam Richard Bez, I hope you have the best day today.
Whoa! 500 dollars naira - that’s a lot of money! It’s enough to make anyone’s eyes light up. But what can you do with it? Well, there are plenty of options. You could invest it, save it for a rainy day, or use it to treat yourself to something special. Whatever you decide, 500 dollars naira is sure to come in handy!
What Is $500 Dollars In Naira? [Solved]
Are you getting ripped off by your bank? Check out the conversion rates for US Dollars to Nigerian Naira - 500 USD is 194,000 NGN, 1000 USD is 388,000 NGN, 2000 USD is 776,000 NGN and 5000 USD is 1,940,000 NGN. Yikes! Make sure you’re not paying too much.
Exchange Rate: The current exchange rate for 500 dollars to naira is approximately 478.50 naira.
Currency: The currency of Nigeria is the Nigerian Naira (NGN).
History: The Nigerian Naira was introduced in 1973 and has been the official currency of Nigeria since then.
Denominations: The denominations of the Nigerian Naira are coins in 5, 10, 25, 50 kobo and 1, 2, 5 naira; and banknotes in 5, 10, 20, 50, 100, 200, 500 and 1000 naira denominations.
Economy: Nigeria is Africa’s largest economy with a GDP of over $400 billion USD as of 2019 according to World Bank data.
Inflation: Inflation in Nigeria has been on a steady decline since 2016 but still remains high at 11% as of 2020 according to Trading Economics data .
500 dollars is equal to about 200,000 naira - that’s a lot of cash! It’s enough to buy a few nice things or even take a mini-vacation. You could really make your money stretch with that amount.
