1 NGN to IQD - Convert Nigerian Naira to Iraqi Dinar

Looking at the 30-day window, the NGN/IQD pair traded in a range of 0.925300 to 0.988400. The monthly average was 0.957216 with 1.73% volatility. The relatively low volatility indicates stable trading conditions for the NGN/IQD currency pair.

The current mid-market exchange rate is 1 NGN = 0.951970 IQD, updated as of July 3, 2026, 6:22 AM UTC. Mid-market rates represent the fairest available rate and are the midpoint between buy and sell prices on global currency markets. Actual transaction rates from banks or money transfer services may include a markup above this rate.

Nigerian Naira to Iraqi Dinar Exchange Rate

The NGN/IQD exchange rate tells you how many Iraqi Dinar (IQD) you receive for every Nigerian Naira (NGN). At the current mid-market rate of 1 NGN = 0.951970 IQD, this pair reflects live supply and demand conditions on the global foreign exchange market. The rate updates every 15 minutes on this page, giving you the most current data available.

What Affects the NGN to IQD Rate

Exchange rates between Nigerian Naira and Iraqi Dinar are influenced by central bank interest rate decisions, inflation differentials, trade balances, and broader economic data releases from both countries. Political stability, commodity prices, and global risk sentiment can also cause significant moves. Monitoring these factors helps explain why the NGN/IQD rate fluctuates throughout trading sessions and over longer time periods.

How to Get the Best NGN to IQD Rate

To minimize conversion costs, compare the rate offered by your bank or transfer service against the mid-market rate shown on this page. Online money transfer services and fintech apps often provide rates 2-3% better than traditional banks. For larger amounts, the savings from finding a competitive rate can be substantial. Always check the total cost including both the exchange rate markup and any fixed fees charged by the provider.

Sending Money from NGN to IQD

International money transfers from Nigerian Naira to Iraqi Dinar can be made through banks, online transfer services, or specialist forex brokers. Transfer times range from instant to several business days depending on the corridor and provider. Online services like Wise, Revolut, and OFX typically offer better rates and lower fees than traditional bank wire transfers, though availability varies by country and currency pair.

Iraqi Dinar Overview

The Iraqi Dinar (IQD) is the official currency of Iraq. The Central Bank of Iraq manages the currency through a managed float system, with oil exports providing the primary source of foreign exchange. The IQD exchange rate against NGN reflects relative economic conditions between the two currency areas.

Mid-Market Rate Explained

The mid-market rate of 1 NGN = 0.951970 IQD shown on this page is the fairest available exchange rate. It sits exactly between the buy and sell prices quoted by major financial institutions. No single provider can offer exactly the mid-market rate since their business model requires a small spread, but the best providers come within 0.5-1% of this benchmark. Use our rate as your comparison baseline.