The naira is currently trading at about ₦1,321.37 to the US dollar based on the latest available official market data. In the parallel market, dollar quotes range from approximately ₦1,385 to ₦1,410, depending on the source and whether the transaction involves buying or selling dollars.
The Central Bank of Nigeria’s NFEM data, however, lists September 4 as its latest dated trading entry, at an official rate of ₦1,321.2160 per dollar. The September 9 figure of ₦1,321.37 should therefore be regarded as the latest available rate, rather than a confirmed CBN closing rate for September 9.
At an exchange rate of ₦1,321.37 per dollar, $100 is equivalent to approximately ₦132,137, while $1,000 is worth about ₦1,321,370.
Parallel-market rates vary across available trackers. NairaToday reports a buying rate of ₦1,385 and a selling rate of ₦1,410 per dollar. AbokiForex, meanwhile, reports a buying rate of ₦1,385 and a selling rate of ₦1,395.
At NairaToday’s quoted rates, someone selling $100 could receive approximately ₦138,500, while buying $100 could cost about ₦141,000. At AbokiForex’s selling rate, the same $100 would cost approximately ₦139,500. Actual parallel-market rates can vary depending on the dealer, location and transaction size.
Using the official rate of ₦1,321.37 and NairaToday’s parallel-market selling rate of ₦1,410, the difference is approximately ₦88.63 per dollar.
