Dollar Opens at ₦1,327.16 as Naira Starts New Week Stable

The naira opened the new trading week at about ₦1,327.16 per US dollar in Nigeria’s official foreign exchange market on Monday, September 28, 2026.

The indicative rate was recorded as trading resumed in the Nigerian Foreign Exchange Market (NFEM), with market participants monitoring movements in the naira alongside developments in the parallel market.

The NFEM rate reflects transactions conducted through Nigeria’s formal foreign exchange market, while the official rate is determined using a volume-weighted average of eligible transactions.

The ₦1,327.16 figure was an early indicative rate, meaning the final official closing rate for Monday could change depending on the volume and value of transactions completed during the trading session.

In the parallel market, the dollar was last widely quoted at around ₦1,385 per dollar, although reports noted that the Monday rate had not initially been independently confirmed and could vary between locations and individual dealers.

Later Monday market reports put the parallel-market rate at about ₦1,375 to buy a dollar and ₦1,385 to sell, meaning customers seeking to purchase $100 would need about ₦138,500, while selling $100 at the quoted buying rate would yield about ₦137,500.

Based on the ₦1,327.16 official indicative rate and the ₦1,385 parallel-market selling rate, the difference between the two rates was about ₦57.84 per dollar.

The naira had ended the previous trading week relatively stable across the two markets, with improved foreign exchange liquidity and stronger external reserves cited among factors supporting recent market conditions.

However, exchange rates can change during the day as dollar supply, demand, trading volumes and dealer quotations shift.

For Nigerians and businesses requiring foreign currency, the actual rate available may also differ depending on whether the transaction is conducted through a bank, licensed Bureau de Change operator or another authorised channel. Parallel-market quotations can vary by location and dealer.