LocalExchangeRates.com

Official Rate Sheet: Nigerian Naira (NGN) / South Korean Won (KRW)

Date generated:

Mid-Market Rate: 1 NGN = 1.0124 KRW

Real-Time Interbank Wholesale Feed: October 6, 2026

Nigerian Naira to South Korean Won Exchange Rate (NGN to KRW)

Real-time mid-market wholesale rate with zero retail markup. Check benchmark pricing before bank conversion or international wire transfer.

Bottom Line Up Front (BLUF): How much is 1,000 NGN in KRW?

1 NGN = 1.0124 KRW

At the current mid-market wholesale exchange rate, converting 1,000 Nigerian Naira (NGN) yields approximately 1,012.42 South Korean Won (KRW) (inverse rate: 1 KRW = 0.9877 NGN). This rate represents the pure interbank benchmark. Retail dealers and commercial banks typically apply a commercial spread between 1.5% and 3.5%. View live calculations, historical charts, and provider spreads below.

You Pay (Amount): NGN

You Receive (Estimate): KRW

Wycena na podstawie średniego kursu międzybankowego (0,00% marży)

Kurs rynkowy: 1 NGN = 1.0124 KRW

Kurs odwrotny: 1 KRW = 0.9877 NGN

Status danych: Live Data (Redis)

Looking for reverse calculation? Check KRW to NGN (South Korean Won to Nigerian Naira) Live Converter →

NGN to KRW Real-Time & Historical Rate Chart

Track historical volatility and key price support levels for Nigerian Naira against South Korean Won

Period High

1.0246 KRW

Period Low

1.0003 KRW

Volatility / Avg

1.0124 KRW

Mid-Market Trend

+0.25%

30-Day Range (1M) Position: 50% range

Min: 1.0003 KRW

Max: 1.0246 KRW

52-Week Range (1Y) Current Position: 65% Range

Min: 0.9770 KRW

Max: 1.0479 KRW

Standard Denomination Conversion Matrix (NGN & KRW)

Wholesale interbank rate matrix with zero retail markup or hidden fees.

Nigerian Naira → South Korean Won (NGN / KRW)

Wholesale Benchmark

Nigerian Naira (NGN)	South Korean Won (KRW)
1 NGN	1.01 KRW
5 NGN	5.06 KRW
10 NGN	10.12 KRW
25 NGN	25.31 KRW
50 NGN	50.62 KRW
100 NGN	101.24 KRW
200 NGN	202.48 KRW
250 NGN	253.11 KRW
500 NGN	506.21 KRW
1,000 NGN	1,012.42 KRW
2,500 NGN	2,531.05 KRW
5,000 NGN	5,062.11 KRW
10,000 NGN	10,124.22 KRW

South Korean Won → Nigerian Naira (KRW / NGN)

Wholesale Benchmark

South Korean Won (KRW)	Nigerian Naira (NGN)
1 KRW	0.99 NGN
5 KRW	4.94 NGN
10 KRW	9.88 NGN
25 KRW	24.69 NGN
50 KRW	49.39 NGN
100 KRW	98.77 NGN
200 KRW	197.55 NGN
250 KRW	246.93 NGN
500 KRW	493.87 NGN
1,000 KRW	987.73 NGN
2,500 KRW	2,469.33 NGN
5,000 KRW	4,938.65 NGN
10,000 KRW	9,877.31 NGN

Provider / Channel	NGN/KRW Effective Exchange Rate	Estimated Fee	Estimated Received (KRW)	Effective Difference
⚡ LocalExchangeRates Interbank Wholesale (Pure Benchmark)	1.0124 KRW	0.00%	5,062.11 KRW	Benchmark (0%)
🏦 Major Commercial High-Street Banks Standard bank wire / counter transfer	0.9770 KRW	~3.50%	4,884.94 KRW	-177.17 KRW
✈️ Airport Currency Exchange Kiosks Airport terminal cash counters	0.9112 KRW	~10.00%	4,555.90 KRW	-506.21 KRW

1 NGN to KRW: Nigerian Naira to South Korean Won Exchange Guide

Searches for 1 NGN to KRW or convert NGN to KRW describe the amount of South Korean Won received per 1 Nigerian Naira. At today's wholesale baseline of 1 NGN = 1.0124 KRW (inverse: 1 KRW = 0.9877 NGN), understanding retail bank margins helps protect your funds:

🌏 International Transfers & Travel (Nigeria ↔ South Korea)

Whether remitting money internationally or budgeting for travel, benchmark retail bank quotes against the wholesale mid-market rate to avoid excessive markups.

🏦 Commercial Bank Spreads

Major commercial banks typically add markups between 1.5% and 3.5% on foreign currencies, whereas digital multi-currency accounts operate with tighter margins.

📈 Monetary Policy Drivers

Interest rate decisions and monetary policies set by Central Bank of Nigeria (CBN) and Bank of Korea (BoK) shape the medium-to-long term valuation of NGN/KRW.

NGN and KRW Currency Profiles

Official monetary framework, central bank governance, and banknote specifications for Nigeria and South Korea.

How the NGN to KRW Exchange Rate Works

Foreign exchange transactions between Nigeria (NGN) and South Korea (KRW) trade continuously on global wholesale interbank currency markets. The mid-market rate represents the exact mathematical midpoint between institutional buy (bid) and sell (ask) quotes without retail dealer markups.

Key considerations when converting or transferring between NGN and KRW:

Banking Channel Selection: Digital banking transfers and specialized multi-currency accounts generally offer exchange margins of 0.2% to 0.8%, whereas airport physical cash booths frequently charge 8% to 12% over the interbank baseline.
Central Bank Oversight & Policy: Monetary policy decisions, policy interest rate differentials, and currency reserves managed by Central Bank of Nigeria (CBN) and Bank of Korea (BoK) serve as the primary long-term drivers for this currency pair.
Customs Cash Declaration Thresholds: Travelers carrying banknotes or negotiable instruments between Nigeria and South Korea exceeding equivalent to 10,000 USD or EUR are legally required to file written declarations with border authorities.
Avoid Dynamic Currency Conversion (DCC): When using payment cards abroad or withdrawing cash from ATMs, always elect to be billed in the local currency (KRW) rather than your home billing currency to bypass costly DCC conversion markups.

LocalExchangeRates aggregates real-time wholesale interbank benchmarks to provide users with transparent, independent currency valuation.

Frequently Asked Questions: Nigerian Naira to South Korean Won Conversion

Common questions regarding Nigerian Naira to South Korean Won conversion, bank spreads, and transfer costs.

How much is 1,000 NGN in KRW today?

At the current mid-market exchange rate (1 NGN = 1.0124 KRW), 1,000 Nigerian Naira equals approximately 1,012.42 South Korean Won. Retail exchange bureaus and commercial banks typically apply a 1.5% to 3.5% transaction spread.

Where can I get the best exchange rate for Nigerian Naira?

To secure the best rates, avoid airport currency kiosks which routinely apply markups exceeding 8% to 12%. Converting currency at major commercial banks or using a low-fee multi-currency card typically delivers the closest rate to the mid-market benchmark.

Are there cash declaration limits when traveling with NGN?

Most international customs jurisdictions mandate a formal declaration when carrying physical cash or negotiable instruments exceeding the equivalent of 10,000 USD or EUR. Check with local customs authority (Central Bank of Nigeria (CBN)) prior to departure.

Does the exchange rate fluctuate during weekends?

Global interbank foreign exchange markets close on Friday evening (5:00 PM EST) and reopen on Sunday evening. Over the weekend, rates remain static at the Friday close, though retail providers may widen spreads to offset volatility risks.

How is the mid-market exchange rate calculated?

The mid-market exchange rate is the exact midpoint between global wholesale institutional buy (bid) and sell (ask) quotes. It serves as the global benchmark without any added retail broker or banking markup.