The Nigerian naira traded near ₦1,326.84 per dollar at the official foreign exchange market on Monday, September 14, 2026, while remaining close to ₦1,390 in the parallel market. According to live exchange rate data, the ongoing gap reflects distinct liquidity conditions across Nigeria’s regulated and informal currency trading segments.
The naira’s recent performance comes amid improved dollar liquidity and efforts by the Central Bank of Nigeria to stabilise the foreign exchange market. Recent NFEM trading has kept the official rate around the ₦1,320–₦1,330 range, while the parallel market has remained close to ₦1,390.
Official Nigerian Foreign Exchange Market Rates and Recent Movements
Activity at the Nigerian Foreign Exchange Market (NFEM) opened the week with the official rate holding significantly below parallel-market quotations. According to live exchange rate data for Monday, September 14, 2026, the dollar is currently around ₦1,326.84.
The naira weakened to ₦1,329.2129 per U.S. dollar at Nigeria’s official foreign exchange market on Wednesday, September 9, 2026, from ₦1,320.2469 the previous day, according to data attributed to the Central Bank of Nigeria (CBN). That rate moved from ₦1,320.2469 per dollar recorded on Tuesday, September 8, representing an increase of about ₦8.97 per dollar, or a 0.68% movement in the dollar-naira rate. The Tuesday rate of ₦1,320.2469 per dollar was also reported in market data published by Access Bank, which listed the figure as the CBN NFEM rate for September 8.
The CBN identifies its Nigerian Foreign Exchange Market (NFEM) rate as the official exchange rate derived from the volume-weighted average of transactions in the market. The latest available NFEM data for Friday, September 11, 2026, put the naira at ₦1,329.44 to the dollar. Furthermore, Central Bank of Nigeria data showed that the Nigerian currency gained to ₦1,326.52 against the dollar on Friday, September 11, from ₦1,328.22 recorded on Thursday, September 10, meaning the Naira appreciated by ₦1.70 against the dollar on a day-to-day basis at the official foreign exchange market.
Parallel Market Quotations and the Official-Parallel Spread
While the official NFEM rate moves within a regulated volume-weighted average framework, the parallel market operates under separate supply and demand pressures driven by Bureau de Change operators and other informal dealers. The parallel market is trading the dollar at about ₦1,380 to buy and ₦1,390 to sell, based on the latest available market quotations. The rate was also around ₦1,390 at the close of last week. At the black market, the Naira remained unchanged at ₦1,390 per dollar on Friday, the same rate recorded on Thursday.
The difference between the official NFEM rate and the parallel-market selling rate stood at roughly ₦63.16 per dollar on Monday, September 14, 2026, when the official rate was around ₦1,326.84 and the parallel rate was trading at about ₦1,390. On Friday, September 11, the figures indicated a gap of ₦60.56 between the official exchange rate of ₦1,329.44 and the parallel-market selling price of approximately ₦1,390. The parallel-market dollar is trading about 4.6 per cent above the latest official NFEM rate. Rates available to customers through banks, Bureau de Change operators and other authorised dealers can differ from official reference rates because of transaction margins, demand and supply conditions.
For Nigerians looking to buy dollars in the parallel market, $100 would cost approximately ₦139,000 at the parallel-market selling rate, compared with approximately ₦132,944 at the NFEM rate, amounting to roughly ₦6,056 for every $100 purchased at the two respective rates. Meanwhile, $1,000 would require about ₦1.39 million at the prevailing selling rate. On the other hand, anyone selling $100 at a parallel market buying rate of ₦1,380 would receive about ₦138,000. These varying rates can affect individuals and businesses that require foreign currency for international travel, tuition and school fees, imports, remittances and other legitimate transactions.
Broader Economic Indicators and Foreign Reserves Support
The naira’s recent stability at the official window coincides with a strengthening of the nation’s external position. Foreign reserves surged further to $54.41 billion as of September 10, 2026, according to data from the apex bank.
The dollar-naira exchange rate could continue to be influenced by foreign exchange liquidity, crude oil earnings, external reserves, diaspora remittances, investor inflows and monetary policy decisions in the coming days. Market participants will also be watching official NFEM trading closely this week for signs of whether the naira can sustain its recent stability against the dollar.
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