The Nigerian naira opened trading on Tuesday, September 15, 2026, at about ₦1,326.30 to the US dollar at the Nigerian Foreign Exchange Market (NFEM), while the dollar exchanged for between ₦1,385 and ₦1,410 in the parallel market.
The latest official exchange rate published by the Central Bank of Nigeria (CBN) put the NFEM rate at ₦1,326.3014/$ on Monday, September 14.
The figure represents the volume-weighted average of transactions recorded in the official foreign exchange market.
In the parallel market, currency trackers reported the dollar at approximately ₦1,385 for buying and ₦1,410 for selling on Tuesday.
However, parallel-market rates can differ depending on the dealer, location, transaction size and prevailing demand for foreign currency.
At the parallel-market selling rate of ₦1,410, the dollar is trading about ₦83.70 above the latest official NFEM rate, representing a notable difference between the two market segments.
For individuals purchasing dollars at the parallel-market selling rate, $100 would cost about ₦141,000, while $1,000 would require approximately ₦1.41 million.
The naira has remained relatively stable around the official market in recent sessions, with the latest CBN data showing the currency at ₦1,326.30/$ on September 14.
Despite the stability at NFEM, the continued difference between official and parallel-market rates highlights variations in foreign exchange supply, demand and accessibility across the two markets.
Exchange rates may change throughout the day as dollar liquidity and market demand shift.
As of Tuesday, September 15, available market indications therefore place the dollar at approximately ₦1,326.30/$ at NFEM, compared with ₦1,385–₦1,410/$ in the parallel market.
