The Nigerian naira opened Tuesday, September 22, 2026, trading at different rates against the United States dollar across the official foreign exchange market and the parallel market.
The latest confirmed official figure put the naira at ₦1,329.80 to the dollar at the Nigerian Foreign Exchange Market (NFEM) at the close of trading on Monday, September 21, according to data attributed to the Central Bank of Nigeria (CBN).
The rate represented a marginal appreciation from the previous session, when the naira closed at ₦1,331.20 per dollar.
The NFEM rate is the volume-weighted average exchange rate derived from transactions conducted in Nigeria’s formal foreign exchange market and serves as the official reference rate for the day.
However, the dollar commanded a higher rate in the parallel market, where it was quoted at about ₦1,389 per dollar on Monday, with reported buying rates around ₦1,381.
At the reported parallel-market selling rate, a customer seeking to purchase $1,000 would require approximately ₦1.389 million, while someone selling $1,000 could receive about ₦1.381 million, depending on the dealer and location.
The difference between the NFEM rate of ₦1,329.80 and the parallel-market selling rate of ₦1,389 stood at approximately ₦59.20 per dollar.
The naira’s performance across both markets continues to be affected by factors including dollar supply and demand, foreign exchange inflows, import-related demand and monetary policy developments.
For individuals and businesses buying or selling foreign currency, actual rates may vary from the reference figures depending on the bank or Bureau de Change operator, transaction size, location and timing.
Parallel-market rates, in particular, can change several times within a day, while the NFEM rate reflects transactions in the official foreign exchange market.
As of Tuesday, September 22, 2026, the latest confirmed figures in the source put the dollar at ₦1,329.80 at the NFEM and around ₦1,389 in the parallel market.
