Converting currency from one denomination to another is a common need in today’s globalized world. In this case, we are interested in converting 100 US dollars to Nigerian Naira.
When we want to convert one currency to another, we need to know the current exchange rate between the two currencies. This information allows us to determine the amount of the second currency we will receive in exchange for a specific amount of the first currency.
As of May 2023, the exchange rate between the US dollar and the Nigerian Naira in the black market is approximately 1 USD = 745 NGN. This means that for every one US dollar, you would receive 745 Nigerian Naira in exchange.
Using this exchange rate, we can calculate how much 100 US dollars would be worth in Nigerian Naira. To do this, we simply multiply 100 USD by the exchange rate of 745 NGN/USD. This gives us a total of 74,500 Nigerian Naira.
So, in summary, 100 US dollars is equivalent to 745 Nigerian Naira at the exchange rate of 1 USD = 745 NGN.
Originally posted on May 11, 2023 @ 2:00 pm