The Nigerian naira opened trading on Tuesday, September 15, 2026, at about ₦1,326.30 to the US dollar at the Nigerian Foreign Exchange Market (NFEM), while the dollar was quoted between ₦1,385 and ₦1,410 in the parallel market.
The latest official rate published by the Central Bank of Nigeria (CBN) placed the NFEM exchange rate at ₦1,326.3014/$ on Monday, September 14.
The NFEM figure represents the volume-weighted average of transactions conducted in the official foreign exchange market.
In the parallel market, available market indications put the dollar at approximately ₦1,385 for buying and ₦1,410 for selling on Tuesday.
However, parallel-market rates are not uniform and may vary depending on the dealer, location, transaction size and demand for foreign currency.
At the ₦1,410/$ selling rate, the dollar is about ₦83.70 higher than the latest official NFEM rate.
For Nigerians buying dollars at the reported parallel-market rate, $100 would cost approximately ₦141,000, while $1,000 would require about ₦1.41 million.
The naira has remained relatively stable around the official market in recent trading sessions, with the latest CBN figure keeping the currency at approximately ₦1,326.30/$.
However, the gap between the official and parallel markets continues to reflect differences in foreign exchange supply, demand and access to dollars across the two segments.
Exchange rates can change during the day as market liquidity and demand shift.
As of Tuesday, September 15, available market indications therefore put the dollar at approximately ₦1,326.30/$ at NFEM, compared with ₦1,385 to ₦1,410/$ in the parallel market.
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