The Nigerian naira opened the new trading week at about ₦1,326.84 to the US dollar in the Nigerian Foreign Exchange Market (NFEM) on Monday, September 14, 2026, while the parallel market continued to quote the dollar at a higher rate.
Current market reports put the parallel-market dollar at around ₦1,380 for buying and ₦1,390 for selling, although rates can vary between locations and individual dealers.
At the reported NFEM rate of ₦1,326.84/$, the difference between the official rate and the parallel-market selling rate of ₦1,390 is about ₦63.16 per dollar.
At ₦1,390 per dollar, a person buying $100 through the parallel market would need about ₦139,000, while purchasing $1,000 would cost approximately ₦1.39 million.
At the reported buying rate of ₦1,380, selling $100 would yield about ₦138,000.
The naira has remained relatively stable around the ₦1,320 to ₦1,330 range in the official market in recent trading sessions, while parallel-market quotations have remained around the ₦1,390 area.
The NFEM rate reflects transactions in Nigeria’s regulated foreign exchange market, while parallel-market rates are determined largely by prevailing demand and supply among informal dealers and Bureau de Change operators.
The gap between the two markets remains an important indicator for businesses and consumers who require foreign currency outside the official market.
Market participants will continue to watch foreign exchange liquidity, crude oil earnings, external reserves, diaspora remittances and foreign investment inflows for their potential effect on the naira.
Developments in Central Bank of Nigeria foreign exchange policy and activity in the NFEM will also remain important as businesses and investors assess whether the naira can sustain its recent stability against the dollar.
For Nigerians who need dollars for travel, imports, tuition, medical expenses or other international payments, the actual rate available may differ depending on the channel used and the dealer involved.
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