The Nigerian naira opened the new week relatively stable against the United States dollar, although the official exchange rate remained significantly below the parallel-market quotation.
At the Nigerian Foreign Exchange Market (NFEM), the dollar was trading at around ₦1,326.84 on Monday, September 14, 2026, according to live exchange-rate data.
In the parallel market, the dollar was quoted at approximately ₦1,380 to buy and ₦1,390 to sell, based on the latest available market rates. The parallel-market selling rate was also around ₦1,390 at the close of last week.
The figures put the gap between the official NFEM rate and the parallel-market selling rate at about ₦63.16 per dollar.
At the prevailing parallel-market selling rate, Nigerians looking to buy $100 would need roughly ₦139,000, while $1,000 would cost about ₦1.39 million. Conversely, anyone selling $100 at the parallel-market buying rate of ₦1,380 would receive approximately ₦138,000.
The naira’s recent stability comes amid improved dollar liquidity and ongoing efforts by the Central Bank of Nigeria to support stability in the foreign exchange market. Recent NFEM trading has kept the official exchange rate within the ₦1,320–₦1,330 range, while parallel-market rates have remained close to ₦1,390.
The persistent difference between the two rates reflects the distinct pricing mechanisms and liquidity conditions in each market. The NFEM rate is determined by transactions within Nigeria’s regulated foreign exchange market, while parallel-market rates are driven largely by demand and supply among Bureau de Change operators and other informal currency dealers.
Going forward, the naira-dollar exchange rate is likely to remain sensitive to several factors, including foreign-exchange liquidity, crude-oil earnings, external reserves, diaspora remittances, foreign investment inflows and monetary-policy decisions.
Market participants will be closely watching NFEM trading this week for further indications of whether the naira can maintain its recent stability against the dollar.
