The Nigerian naira is currently trading at ₦1,329.80 to the US dollar in the official market and around ₦1,389/$1 in the parallel market, based on the latest available figures as of Tuesday, September 22, 2026.
The official exchange rate reflects the latest closing position recorded by the Nigerian Foreign Exchange Market (NFEM) on Monday, September 21, according to data from the Central Bank of Nigeria (CBN). The figure represents a slight appreciation of the naira from the previous NFEM closing rate of ₦1,331.20/$1.
Meanwhile, the dollar continued to trade at a higher rate in the parallel market.
Market indications from Monday showed the dollar selling for approximately ₦1,389, while buyers were purchasing it at around ₦1,381.
This difference means that the amount paid for dollars can vary depending on whether a person is buying or selling the currency.
For instance, $1,000 would cost about ₦1.389 million at the reported parallel-market selling rate. At the ₦1,381 buying rate, someone selling $1,000 would receive approximately ₦1.381 million.
Based on the latest figures, the parallel-market selling rate is about ₦59.20 higher per dollar than the NFEM rate.
The gap reflects the differing pricing conditions between Nigeria’s official and informal foreign exchange markets.
Exchange rates can fluctuate throughout the day depending on dollar demand and supply, foreign currency inflows, import-related transactions and other market conditions. Monetary policy developments can also influence exchange-rate movements.
