Angola Currency To Naira: Exchange Rate Explained

The Angolan Kwanza (AOA) is the official currency in Angola, while the Nigerian Naira (NGN) is the official currency in Nigeria. As of August 2024, 1,000 Angolan Kwanzas are worth approximately 1,790 Nigerian Nairas. The exchange rate between the two currencies has seen some fluctuation, with a 30-day high of 1.8695 and a 90-day low of 1.5502. This information is particularly useful for individuals or businesses conducting financial transactions or conversions between the two currencies.

Angolan Kwanza to Nigerian Naira conversion

The Angolan Kwanza is the official currency of Angola, while the Nigerian Naira is the official currency of Nigeria. The standard notation for these currencies is AOA for the Angolan Kwanza and NGN for the Nigerian Naira. The currency symbol for the Angolan Kwanza is Kz, and the symbol for the Nigerian Naira is ₦.

As of August 2, 2024, 1,000 Angolan Kwanzas were worth approximately 1.790 Nigerian Nairas. This exchange rate fluctuates and has seen a 30-day high of 1.8695 and a 30-day low of 1.7358.

Converting between these currencies can be done using an online currency converter. To do this, simply input the amount you want to convert and select the currencies you want to convert between. The converter will then display the current exchange rate and how it has changed over time.

It is important to be aware of the potential extra costs associated with exchanging currencies through banks and traditional providers, as they may mark up the exchange rate.

AOA to NGN exchange rate

The Angolan Kwanza (AOA) is the official currency of Angola, while the Nigerian Naira (NGN) is the official currency of Nigeria. As of August 25, 2024, 1 AOA is worth 1.7416 NGN, or conversely, 1 NGN is worth 0.5742 AOA.

The AOA to NGN exchange rate has fluctuated over time. On May 3, 2023, the exchange rate was different from the current rate, with 1 AOA equalling 1.80 NGN. The performance of AOA to NGN over the last 30 days has seen a high of 1.8695 and a low of 1.7358, resulting in an average of 1.7997.

When converting between currencies, it is important to be aware of the mid-market exchange rate, which is the rate that banks and other financial institutions use when trading currencies. Online currency converters can provide real-time updates on exchange rates and allow users to track rates over time. These tools can be useful for those looking to make international money transfers or conduct business across borders.

It is worth noting that banks and traditional providers may have additional costs associated with currency exchange, which can result in marked-up exchange rates being passed on to the customer.

Kwanza to Naira FX Market Rate

The Kwanza is the official currency of Angola, while the Naira is the currency of Nigeria. As of August 2024, 1.00 Angolan Kwanza is equivalent to approximately 1.75 Nigerian Naira, with the exact rate depending on the source. The mid-market rate, according to Xe Currency Converter, is 1.7483825 Nigerian Naira to 1.00 Angolan Kwanza (or 0.57195722 Angolan Kwanza to 1.00 Nigerian Naira). This rate is for informational purposes only and may not be the rate you receive when sending money.

The Kwanza to Naira exchange rate has seen fluctuations in the past few months. In June 2024, the exchange rate was around 1.754 Nigerian Naira to 1.00 Angolan Kwanza. This was an increase from the beginning of the month when 1.00 Kwanza was trading at 1.7306 Naira. Looking back further, at the end of May 2024, the rate was as high as 1.81073. The Kwanza to Naira exchange rate has not been steady and has fluctuated over the past several months.

The mid-market rate is the midpoint between the buy and sell rates for a currency pair at any given time. It represents the current market value of a currency and is often used as a reference rate by forex traders and financial institutions. The mid-market rate is considered the most accurate representation of the true value of a currency in the open market.

When converting currencies, it is important to be aware of the various fees and charges that may be applied by different providers. Banks and traditional providers often add extra costs, which they pass on to customers by marking up the exchange rate. It is recommended to use a currency converter that offers the mid-market rate, as this ensures you get a competitive and transparent exchange rate for your transaction.

Currency converter tools

There are several online currency converter tools available, such as the Xe Currency Converter, which is one of the most popular options. It offers live foreign exchange rates for over 170 currencies and is free to use. You can also use the Xe Currency mobile apps to access the same trusted rates on the go. Other features include rate alerts, currency charts, and a travel expenses calculator.

Wise also offers a currency converter tool that provides the mid-market exchange rate. This tool allows you to compare exchange rates and see how rates have changed over time.

CoinMill.com is another website that provides a currency exchange rate conversion calculator for Angolan Kwanza (AOA) and Nigerian Naira (NGN). This calculator was last updated with exchange rates from 26 May 2024.

It is important to note that the rates provided by these tools are for informational purposes only and may not be the exact rates you receive when sending money.

Banks vs. currency converter providers

Banks and currency converter providers both offer currency exchange services, but there are some key differences between the two.

Banks

Major banks, such as Chase or Bank of America, often have ATMs overseas, which can be useful when travelling. Banks also provide reasonable exchange rates and typically charge lower fees for currency exchange. In addition, some banks may buy back leftover foreign currency in exchange for the local currency upon your return. However, there may be a small fee if you exchange small amounts of currency.

Currency Converter Providers

Online currency converter providers, such as Travelex and Wise, offer convenient foreign exchange services. They may also provide features such as tracking live exchange rates and comparing the best money transfer providers. However, the exchange rates may not be as favourable as those offered by banks, and there may be delivery charges for ordering cash online.

When exchanging currency, it is generally recommended to use your bank or credit union, as they typically offer better rates and lower fees. Online currency converters can also be a good option, but it is important to compare exchange rates and fees to ensure you are getting a fair deal.

Frequently asked questions