The Nigerian naira is trading at different levels against the United States dollar across the official Nigerian Foreign Exchange Market (NFEM) and the parallel market on Tuesday, September 22, 2026.
The latest available official data show that the naira closed at ₦1,329.80 per dollar at the NFEM on Monday, September 21, according to data from the Central Bank of Nigeria (CBN). This was a slight strengthening from the previous session’s closing rate of ₦1,331.20 per dollar.
The NFEM rate is the volume-weighted average exchange rate derived from transactions in Nigeria’s formal foreign exchange market and serves as the official exchange rate for the day.
In the parallel market, the dollar was quoted at around ₦1,389 on Monday, with reported buying rates of approximately ₦1,381 per dollar.
At the reported selling rate, a customer looking to buy $1,000 in the parallel market would need about ₦1.389 million. Conversely, someone selling $1,000 could receive roughly ₦1.381 million, although actual rates may vary by dealer and location.
The difference between the NFEM rate of ₦1,329.80 and the parallel-market selling rate of ₦1,389 was approximately ₦59.20 per dollar.
Exchange rates in both markets are influenced by factors including dollar supply and demand, foreign-exchange inflows, import-related demand and monetary-policy developments.
For Nigerians buying or selling foreign currency, the actual rate offered may differ from these reference figures depending on the bank or Bureau de Change operator, transaction size, location and time of the transaction. Parallel-market rates, in particular, can change throughout the day, while the NFEM rate reflects transactions in the official market.
As of Tuesday, September 22, 2026, the latest confirmed figures available put the dollar at ₦1,329.80 at the NFEM and around ₦1,389 in the parallel market.
