The Nigerian naira is trading at different levels against the United States dollar across the official Nigerian Foreign Exchange Market (NFEM) and the parallel market on Tuesday, September 22, 2026
The latest available official data show the naira closed at ₦1,32980 per dollar at the NFEM on Monday, September 21, according to data from the Central Bank of Nigeria (CBN). The rate was stronger than the previous session’s ₦1,331.20 per dollar.
The NFEM rate is the volume-weighted average exchange rate derived from transactions in Nigeria’s formal foreign exchange market and serves as the official exchange rate for the day
In the parallel market, the dollar was quoted at around ₦1,389 per dollar on Monday, with reported buying rates around ₦1,381
This means customers looking to buy $1,000 in the parallel market would need about ₦1389 million at the reported selling rate, while someone selling $1,000 could receive roughly ₦1.381 million, depending on the dealer and location.
The gap between the NFEM rate of ₦1,32980 and the parallel-market selling rate of ₦1,389 stood at about ₦59.20 per dollar.
The naira’s movement in both markets continues to be influenced by dollar supply and demand, foreign exchange inflows, import-related demand and monetary policy developments
For Nigerians buying or selling foreign currency, actual rates may differ from the reference figures depending on the bank, Bureau de Change operator, transaction size, location and time of the transaction
Parallel-market rates are particularly subject to intraday changes, while the NFEM rate reflects official-market transactions
As of Tuesday, September 22, 2026, the latest confirmed figures available put the dollar at ₦1,32980 at the NFEM and around ₦1,389 in the parallel market.