The Nigerian naira opened the new week at different rates against the United States dollar across the official foreign exchange market and the parallel market.
The latest available data from the Nigerian Foreign Exchange Market (NFEM) put the naira at approximately ₦1,331.20 per dollar, based on the most recent confirmed official-market rate from Friday, September 18. The rate was marginally stronger than the previous close of ₦1,331.28 per dollar.
As of Monday morning, a live USD/NGN benchmark stood at around ₦1,330.65 to the dollar, indicating that the naira remained close to the ₦1,330 level in early trading.
In the parallel market, the dollar was quoted at about ₦1,395 on Monday, according to market reports. This represents a difference of roughly ₦63.80 per dollar between the parallel-market rate and the latest NFEM rate.
The parallel-market rate has remained above the official rate in recent sessions, although the size of the gap has fluctuated in response to changes in dollar supply and demand.
Recent data also indicate that the naira has traded within a relatively narrow range in the official market.
Meanwhile, Nigeria’s external reserves stood at $54.61 billion as of September 14, according to Central Bank of Nigeria (CBN) data cited by BusinessDay. The reserves were reported to be at an 18-year high, representing a 30.52 percent increase from the corresponding period in 2025.
For Nigerians buying or selling dollars, actual exchange rates may vary depending on the bank, Bureau de Change operator, transaction size and location. Parallel-market quotations are indicative and may change throughout the day.
As of September 21, 2026, the latest available rates are approximately ₦1,331.20/$ in the NFEM and ₦1,395/$ in the parallel market, while the live USD/NGN benchmark is around ₦1,330.65/$.
