The naira strengthened slightly against the United States dollar in Nigeria’s official foreign exchange market on Thursday, September 4, 2026, trading at N1,323.21 per dollar.
The latest rate from the Nigerian Foreign Exchange Market, NFEM, represents an improvement from the N1,326.6862 per dollar rate published by the Central Bank of Nigeria for September 2.
The official exchange rate is calculated using the volume-weighted average of transactions completed on the NFEM, meaning the rate can change as foreign exchange trading continues.
In the parallel market, however, the dollar was quoted at about N1,400 for buying and N1,410 for selling, maintaining a notable difference between the two markets.
At the parallel market selling rate of N1,410, a person looking to buy $100 would need about N141,000, while $1,000 would cost approximately N1.41 million.
The difference between the official rate of N1,323.21 and the parallel market selling rate of N1,410 stands at N86.79 per dollar.
The gap reflects differences in foreign exchange liquidity, supply and demand across the official and parallel markets.
The naira’s performance in the coming days is expected to remain influenced by the availability of dollars, demand from businesses and individuals, and overall liquidity in the foreign exchange market.
Parallel market rates can also vary between locations and currency dealers and may change several times within a day.
Buyers and sellers are therefore advised to confirm the prevailing exchange rate before completing foreign exchange transactions
How did this story make you feel?
Most readers reacted Like.
Join the conversation
Share a thoughtful response. Submissions may be reviewed before appearing.
Reader responses are closed on older stories.
