The Nigerian naira strengthened slightly against the United States dollar at the official foreign exchange market on Tuesday, September 22, 2026.
The latest reported rate from the Nigerian Foreign Exchange Market (NFEM) showed the naira trading at about ₦1,329.80 to the dollar, compared with ₦1,331.20 recorded in the previous session.
The movement represents a marginal appreciation of the naira as foreign exchange market conditions remain relatively stable.
In the parallel market, however, the dollar continued to trade at a higher rate. Reports on Tuesday put the selling price at around ₦1,389 to $1, although rates may differ depending on location, dealer and transaction size.
At the official rate of ₦1,329.80, the equivalent value of selected dollar amounts is approximately:
- $100 — ₦132,980
- $500 — ₦664,900
- $1,000 — ₦1,329,800
- $5,000 — ₦6,649,000
The difference between official and parallel-market rates reflects the separate pricing conditions in the two segments of Nigeria’s foreign exchange market.
Market observers continue to monitor dollar supply, foreign exchange demand, monetary policy and external reserves as factors that could influence the naira’s movement.
Recent reports indicate that Nigeria’s external reserves had risen to about $54.61 billion by September 14, providing additional foreign-exchange liquidity support.
However, the rates reported online should not be regarded as guaranteed transaction prices. Banks, licensed Bureau de Change operators and other authorised dealers may quote different rates depending on their prevailing market conditions, charges and transaction type.
The naira’s exchange rate may also change during the day as market activity and dollar demand fluctuate.
