The Nigerian naira recorded mixed movements against the United States dollar on Wednesday, September 23, 2026, with the currency strengthening slightly at the official foreign exchange market while remaining weaker in the parallel market.
At the Nigerian Foreign Exchange Market (NFEM), the naira appreciated to N1,327.78 per dollar on Tuesday, from N1,329.80 recorded on Monday, representing a N2.02 gain against the dollar.
However, the dollar was quoted at about N1,389 in the parallel market on Tuesday, compared with N1,390 recorded the previous day.
The difference between the official NFEM rate and the parallel-market rate stood at approximately N61.22 per dollar.
At the parallel-market rate of N1,389, a customer buying $100 would require about N138,900, while $1,000 would cost approximately N1.389 million.
Exchange rates available to individuals and businesses may vary depending on the dealer, location, transaction size and prevailing market conditions.
The naira’s recent movement comes amid developments in Nigeria’s foreign exchange market, including changes in dollar liquidity and monetary policy.
The Central Bank of Nigeria continues 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.
As of Wednesday, September 23, the latest confirmed figures put the dollar at N1,327.78 at the NFEM and around N1,389 in the parallel market.
The rates remain subject to change during the day as demand and supply conditions shift across both markets.
