The exchange rate between the US dollar (USD) and the Nigerian naira (NGN) can fluctuate over time due to various economic factors. As of my last knowledge update in September 2021, the exchange rate was around 1 USD to approximately 410-450 NGN in the unofficial or parallel market.
To convert the value of a $50 American Express gift card to Nigerian naira, you would multiply $50 by the prevailing exchange rate. Based on the rate mentioned earlier, it would be approximately:
$50 USD * 410-450 NGN/USD ≈ 20,500 – 22,500 NGN
So, a $50 American Express gift card could be worth roughly 20,500 to 22,500 Nigerian naira in the unofficial market. Please note that exchange rates can fluctuate, so it’s a good idea to check with a reliable source or a currency exchange service for the most current rates at the time of your conversion. Additionally, official exchange rates provided by banks or financial institutions may differ from unofficial rates in the parallel market.