The Nigerian naira is trading at different rates against the United States dollar across the official Nigerian Foreign Exchange Market (NFEM) and the parallel market on Wednesday, September 23, 2026, with the latest available figures putting the dollar at ₦1,327.78 at the official market and around ₦1,389 in the parallel market.
At the NFEM, the naira strengthened to ₦1,327.78 per dollar on Tuesday, September 22, from ₦1,329.80 recorded on Monday.
The latest movement represents a ₦2.02 appreciation by the naira against the dollar on a day-to-day basis.
In the parallel market, the dollar was quoted at about ₦1,389 on Tuesday, compared with ₦1,390 recorded the previous day.
The difference between the official NFEM rate and the parallel-market rate stood at approximately ₦61.22 per dollar.
At the parallel-market rate of ₦1,389, a customer buying $100 would need approximately ₦138,900, while $1,000 would cost about ₦1.389 million.
The actual exchange rate available to individuals and businesses may vary depending on the dealer, location, transaction size and prevailing market conditions.
The naira’s recent performance comes amid developments in Nigeria’s foreign exchange market, including changes in dollar liquidity and monetary policy.
The Central Bank of Nigeria has continued to monitor conditions in the foreign exchange market as the naira trades around the ₦1,300-per-dollar level at the official market. Reuters also reported in September that the naira had remained relatively stable, supported by central bank dollar sales and subdued import demand.
For Wednesday, September 23, the latest confirmed figures put the dollar at ₦1,327.78 at the NFEM and around ₦1,389 in the parallel market.
Exchange rates can change during the day as demand and supply conditions shift across both markets, meaning rates offered by banks, authorised dealers and parallel-market operators may differ.
