500 Dollars to Naira
How much is 500 Dollars in Naira?
NGN₦770,343.43
The conversion calculation of $500 US Dollars to Naira is done using the following exchange rate (US$1=):
NGN₦1,540.69
This is an updated conversion, but for informational purposes only.
Conversions Between Dollars and Naira
Use the tool below in case you need to verify the Naira value of other dollar amounts or perform a conversion with immediately updated exchange rates:
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Naira Conversion and Burgernomics
The Economist magazine created the BigMac index in 1986 to indicate whether a given country’s currency is undervalued or overvalued relative to the dollar. Basically, the analysis is carried out according to purchasing power parity, in which an identical product in two different countries (the BigMac) should cost the same price in dollars.
Since there are no McDonald’s stores in Nigeria, the Naira is not part of the BigMac index. However, these purchasing power parity studies that are sometimes called “burgernomics” have alternatives to complement the original BigMac index. In fact, one of those is the Whopper index and Nigeria is part of that.
Our team did a search on Burger King’s website in June 2024 and found out that the price of a Whopper in Lagos is NGN5,500.00.
Considering today’s exchange rate, the price in US dollar of a Whopper in Lagos is:
US$3.57
The price of a Whopper is significantly lower than in September 2022, which means the the Naira is not overvalued as it was back in September 2022..
Top 10 country Whopper prices in USD in September 2022:
| Country | Whopper Prices in USD |
|---|---|
| Denmark | 9.01 |
| Switzerland | 8.60 |
| Israel | 8.48 |
| Norway | 8.29 |
| Sweden | 7.93 |
| Hong Kong | 7.53 |
| Nigeria | 7.04 |
| Maldives | 6.85 |
| New Zealand | 6.67 |
| Saudi Arabia | 6.67 |
The Whopper Index was researched from datafantic’s website and you can find the original article via this link.
More Conversions US Dollar to Naira
