The Nigerian naira is trading at different rates against the United States dollar across the official Nigerian Foreign Exchange Market (NFEM) and the parallel market on Wednesday, September 23, 2026
The latest available data show that the naira strengthened to N1,32778 per dollar at the NFEM on Tuesday, from N1,329.80 recorded on Monday.
The latest movement represents a N202 appreciation by the naira against the dollar on a day-to-day basis.
In the parallel market, the dollar was quoted at about N1,389 on Tuesday, down from N1,390 recorded the previous day
The parallel-market rate puts the gap between the official NFEM rate and the street-market selling rate at about N6122 per dollar.
At the parallel market rate of N1,389, customers buying $100 would need approximately N138,900, while $1,000 would cost about N1389 million.
The exchange rate available to individuals and businesses may vary depending on the dealer, location, transaction size and prevailing market conditions
The naira’s recent performance has come amid developments in Nigeria’s foreign exchange market, including changes in dollar liquidity and monetary policy
The Central Bank of Nigeria has continued to monitor conditions in the foreign exchange market as the naira trades around the N1,300-per-dollar level at the official market Reuters also reported in September that the naira had remained relatively stable, supported by central bank dollar sales and subdued import demand.
For Wednesday, September 23, the latest confirmed figures put the dollar at N1,32778 at the NFEM and around N1,389 in the parallel market.
The rates could change during the day as demand and supply conditions shift across both markets