The Nigerian naira strengthened against the United States dollar at the official Nigerian Foreign Exchange Market (NFEM) on Tuesday, September 22, 2026, trading at N1,327.78 per dollar. This represents a day-to-day appreciation of N2.02 from the previous day’s rate of N1,329.80 recorded on Monday.
In the parallel market, the dollar was quoted at approximately N1,389 on Tuesday, a slight decrease from N1,390 the previous day. Consequently, the gap between the official NFEM rate and the street-market selling rate stands at about N61.22 per dollar. At this parallel-market rate, purchasing $100 requires approximately N138,900, while $1,000 costs about N1.389 million.
The Central Bank of Nigeria (CBN) continues to monitor conditions in the foreign exchange market as the naira trades around the N1,300-per-dollar level in the official market. Recent stability in the currency has been supported by central bank dollar sales and subdued import demand, according to reports from Reuters.
Market analysts note that the naira’s recent performance comes amid broader developments in Nigeria’s foreign exchange sector, including shifts in dollar liquidity and monetary policy. The CBN’s ongoing oversight aims to manage these fluctuations and maintain stability in the currency.
It is important to note that exchange rates available to individuals and businesses may vary depending on the specific dealer, location, transaction size, and prevailing market conditions. While the latest confirmed figures for Wednesday, September 23, place the dollar at N1,327.78 at the NFEM and around N1,389 in the parallel market, rates could change throughout the day as demand and supply conditions shift across both markets.
<small>Source: Vanguard News — read the original story there.</small>
