Did the Dollar to Naira Exchange Rate Change? Google Conversion Error Causes a Stir Online

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According to Google, the US dollar to Naira exchange rate saw a dramatic change Friday, but is the conversion rate correct? Find out what’s really happening with the dramatic change to Nigeria’s currency, here. Getty Images

UPDATE 02/22/19 - 5:00 p.m. ET - The Google conversion tool has been updated and now shows the Dollar to Naira conversion rate as $1 USD to 361.75 NGN.

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According to Google, the US dollar to Naira exchange rate saw a dramatic change Friday, but are the results correct? Find out what's really happening with the reported changes in Nigeria's currency, here.

Ahead of the Nigeria's Saturday elections, a strange thing appeared to be happening with the country's currency. On Friday, many following the US dollar to Nigerian naira exchange rate noticed an unexpected increase in the Naira's value. A quick search of "Naira to Dollar" in Google brings up the search engine's tool for converting between USD and NGN. If you look at the graphic, it shows the conversion rate at $1 equalling 184 naira. If the figure were correct, it would indicate that the naira had nearly doubled in value after closing at around 363 NGN to USD on Thursday.

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Google's currency converter Friday showed the Nigerian Naira gaining value against the US dollar. Google

So what't going on? Basically, it looks like Google's currency converter is experiencing a glitch of some kind. If you check other live market reports and conversion tools, you'll find the trade rate at 363 NGN to 1 USD.

This isn't the first time Google's currency converter has shown incorrect figures. In January, the tool produced incorrect values of various currencies against the Pakistani rupee.

As more is learned about what is happening with the naira to dollar rate and Google's conversion tool, we'll be sure to update this post.

UPDATE 02/22/19 - 5:00 p.m. ET - The Google conversion tool has been updated and now shows the Dollar to Naira conversion rate as $1 USD to 361.75 NGN.

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Did the Dollar to Naira Exchange Rate Change? Google Conversion Error Causes a Stir Online | U.S.