Deciding between EUR to USD and EUR to NGN transfers is a question of financial stability for thousands of expats. Yes, it is that deep. In this article, we’ll give you some currency conversion tips so that you can make wiser choices.
When to send EUR to USD
USD is a more stable currency compared to NGN. This fact determines most cases when it’s best to send dollars home.
Investing and saving
Stronger currency = higher chances of income. Dollar investments are more stable because the currency itself is less volatile. Imagine you've saved millions of naira and suddenly it weakens, and you can't buy what you'd initially planned. Practice shows that dollars are a more secure asset.
Moreover, since adding money to your broker account is not urgent, usually, you can monitor the EUR to USD rate and catch the hottest offer.
Planning bigger expenses
If your children need to pay tuition fees soon or your family plans a trip abroad, sending EUR to USD is more beneficial. Since it’s a stronger currency, you’ll lose less on the rate fluctuations. And again, you can catch the best EUR to USD rate when the transfer isn’t urgent.
Catching favourable trends
When you don’t really need USD back home but notice historical fluctuations of the EUR to USD rate, it may be a good idea to make a transfer. Take the chance to convert money beneficially and let the dollars just stay in your account. You’ll quickly find something to spend them on.
More tips:
- Top transfer apps for expats from Nigeria in the EU: A complete comparison guide.
- What is an IMTO license — and why it matters in Nigeria.
- Top reasons for Nigerians to move to Europe (Understanding the 'Japa' syndrome).
- Jobs in Europe for Nigerians: Most in-demand sectors.
- Nigerian dishes: 21 traditional foods to transport you to Africa.
When to send euros to naira
Euro-to-naira transfers are also useful in many situations.
Local needs
To avoid multiple currency conversions (euro → dollars → naira) and extra fees, it’s better to send NGN for everyday expenses. This works well for groceries, school fees, utility bills, restaurant meals, and other small, regular costs – in short, the kinds of expenses most people send money home for.
Maximising purchasing power
Even though NGN is more volatile, sometimes sending immediately when the euro is strong can increase the amount received. Always monitor the EUR to NGN rate to make sure that you and your family get the most value out of the transfer.
Gifts
One of the obvious ways to celebrate someone's birthday/wedding/graduation from abroad is by sending them money. When you have no idea what this gift will be used for, choosing naira is more reliable, as the person can spend them immediately on small treats. For presents, the EUR to NGN rate fluctuations don't matter that much.
How to send money to Nigeria
Whatever you pick: a euro to naira or a euro to dollars transfer, finding a reliable service is the key to success. Sometimes it can be hard: some providers seem suspicious, others have unfavourable offers or don’t send USD to Nigeria at all. We have a solution for you – Profee. This service:
- Keeps the euro-to-dollar and euro-to-Nigerian naira rates beneficial.
- Is officially licensed and fully secure.
- Offers transfers from Europe, the UK, Canada and the UAE.
- Has a generous referral programme for Nigerian expats.
- Makes sending money quick and seamles.
Try it out with a special welcome offer – find details on the app or website.
Note: To avoid extra conversions, make sure the transfer currency matches the currency of the receiving account.
FAQ – Currency conversion tips
When abroad, is it better to pay in USD or local currency?
Paying for daily needs is better in the local currency. It helps to avoid extra fees and conversions.
What is the best time to transfer money?
There’s no right answer to that. Monitor rates yourself and try spotting patterns. Remember that the behaviour of the euro to naira currency conversion rate will differ from the euro to dollar rate – each pair is unique.
How to transfer money from Europe to Nigeria?
- Join Profee.
- Select countries.
- Add transfer amount.
- Pick a payment method.
- Enter recipient details.
- Review and confirm.
Is sending money to Nigeria safe?
It’ll be safe if you know exactly who you’re transferring to and use Profee, which is trusted by over 800,000 clients.
How fast do bank transfers happen?
Usually, transfers take from several minutes to several days to arrive. It depends on your bank and the bank of your recipient.
