Currency Exchanger FAQ
We recently switched our base currency on the website to US Dollars (USD) and made all other currencies at their foreign exchange rates to the dollar. We feel you may have a few questions for us, so we answered them first hand. If none of these answer you questions, kindly contact our Billing Support Desk.
- What currencies do you support?
At the moment, we only support 3 currencies (US Dollars, British Poundsterling & Nigerian Naira). Final payments are made in either of Nigerian Naira or US Dollar through our merchant relationship with payment gateway providers such at 2Checkout, Pagatech, Paystack Inc., and GTBank Plc (Nigeria). We hope to support more currencies as demand arises. If we currently do not support your local currency, you may contact us. - What is the base currency for your products?
Our pricing is in the US Dollars and other currencies are provisioned at foreign exchange rates. For example, our domain names (.com) are sold at $14/yr and at exchanges rates http://fx-rate.net/USD/NGN/ for Nigerian Naira and http://fx-rate.net/USD/GBP/ for British Pounds. This also applies to other products; we set them in USD Dollars at same global exchange rates. - Can I change my currency later?
No, you are allowed to set your currency for billing only when you sign up as a new customer. After that, you cannot change your currency again. However you will still be billed at the exchange rates to the dollar. - I am already a customer, will this change affect my bills?
Yes, unless you are using our USD billing prior to this switch of base currency. But we made this as a gentle onboarding. All existing invoices will not be affected by the exchange rates until the next billing due date. If you have an invoice of 2,000 NGN for domain registration, you will be billed at $14 until your next billing date (domain expiry date) and same for all our products. - Why are your prices suddenly more expensive?
We didn't increase our prices, we only changed our base currency. This is because, our prices were initially based on Nigerian Naira and the inflation rate has caused a huge drift in our operations and revenues. If we continue on the Nigerian Naira's base pricing, we may likely run at a loss and most definitely not good for businesses that depend on us. We figured we can only solve this by switching currency, so that our base currency will be stable.
We have sold domains at $14 almost forever now, since the time when NGN to USD was N150 to $1. With the current exchange rates that is not in favor of our business continuity. - What should I do if I am unhappy with this switch?
Pray for Nigeria and ask God to stabilize the economy. We believe there is nothing we or you can do about it. Oh! Maybe you should vote for Change. - Can I contact you about this?
Sure! Any day, any time. Be free to reach us on Twitter: @gigalayer or Email: billing {@} gigalayer.com
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