NGN 500 = SGD 0.445
Convert1 NGN = 0.00089 SGD | 1 SGD = 1123.59551 NGN
Last Updated Feb 14, 5:30 ISTOur converter applies the mid-market rate. It is solely for informational purposes. The Rate might differ while transferring money.
NGN to SGD Exchange Rate Chart
1 NGN = 0.00089 SGD
The exchange value of 500 NGN in Singapore Dollar is 0.445 SGD as on Feb 14.
You can check the exchange rate of 500 Nigerian Naira to Singapore Dollar by using the Paytm currency exchange rate calculator.
All you need to do to see the exchange 500 NGN to SGD online is as follows:.
There are several online ways to convert NGN to SGD.
Most banks in India allow NGN to SGD conversion through their internet banking or mobile apps.
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Apps like Wise, PayPal, and Western Union allow NGN to SGD conversion quickly.
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A Forex card is a prepaid card that holds multiple currencies, including NGN.
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Some people use crypto exchanges to convert USD to INR through Bitcoin, Ethereum etc.
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There are several offline methods to exchange NGN to SGD. Let‘s explore them.
1. Banks
Banks offer currency exchange services at competitive rates. You need to visit a branch with your NGN cash and exchange it for SGD.
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Private money exchange centers, like Thomas Cook, Muthoot Forex, and Western Union, offer offline NGN to SGD conversion.
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Airports have forex counters where travelers can exchange NGN to SGD.
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Some hotels and travel agencies offer currency exchange services for guests.
Steps to Exchange NGN to SGD at a Hotel or Travel Agency:
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In busy markets and tourist spots, you may find local money changers who exchange NGN for SGD
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Most offline exchanges require identity proof. Here are the common documents needed:
Document Type | Required For |
---|---|
Passport | All exchanges (mandatory for foreigners) |
Always carry a valid ID when exchanging currency.
Method | Exchange Rate | Transfer Fee | Availability | Speed |
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Bank Transfer | Low | Low | Limited hours | 1-3 days |
Any Third Party App | High | Low | 24/7 | Instant/Few minutes |
Forex Card | Medium | Low | 24/7 | Instant |
Crypto Exchange | High | Low | 24/7 | Few minutes |
Exchange Centers | Good | Medium | Widely available | Few minutes |
Airport Counters | High | High | 24/7 at airports | Few minutes |
Hotels/Agencies | Very High | Medium | Only for guests | Few minutes |
Local Money Changers | Varies | Low | Risky but quick | Few minutes |
Converting Nigerian Naira (NGN) to Singapore Dollar (SGD) offers several advantages, depending on your financial needs and market conditions. Here are some key benefits:
NGN is a strong and widely traded currency. If the exchange rate is favorable, converting NGN to SGD can give you more value for your money.
Since 1 NGN equals a significantly higher amount in SGD, converting NGN to SGD increases your purchasing power, allowing you to afford more goods and services in Singapore.
If you‘re an NRI, tourist, or returning from the Nigeria, converting NGN to SGD ensures you have local currency for daily expenses, shopping, and travel within Singapore.
Converting NGN to SGD can help you invest in Singapore assets, such as real estate, stocks, mutual funds, and fixed deposits, which often offer higher returns compared to Nigeria markets.
Using a direct NGN to SGD conversion method (like Forex cards or money changers) helps avoid unnecessary fees and unfavorable exchange rates charged by international payment gateways or credit card companies.
For businesses involved in international trade, converting NGN to SGD at the right time can help optimize costs, manage foreign exchange risks, and improve profit margins.
By choosing the right conversion method and timing, you can maximize the benefits of NGN to SGD exchange.
Source of the rates:apilayer.com