Naira Opens New Week at ₦1,331/$ Officially, ₦1,395 in Parallel Market
The Nigerian naira opened the new trading week with varying exchange rates against the United States dollar across the official foreign exchange market and the parallel market, reflecting continued differences in dollar pricing across the country’s currency markets.
According to figures cited by Vanguard, the latest confirmed rate from the Nigerian Foreign Exchange Market (NFEM) stood at approximately ₦1,331.20 per US dollar as of Friday, September 18, 2026. This represented a marginal improvement from the previous rate of ₦1,331.28 per dollar.
A live USD/NGN benchmark was reported at around ₦1,330.65 per dollar on Monday morning, keeping the naira close to the ₦1,330 mark during early trading.
In the parallel market, the dollar was quoted at approximately ₦1,395 on Monday, according to market reports. Based on these figures, the difference between the NFEM rate and the parallel-market quotation was about ₦63.80 per dollar.
The premium in the parallel market has persisted in recent trading sessions, although the spread between official and unofficial rates can change in response to dollar supply, demand, liquidity and market conditions.
External Reserves Reach $54.61 Billion
Meanwhile, Nigeria’s external reserves stood at $54.61 billion as of September 14, 2026, according to Central Bank of Nigeria (CBN) data cited by BusinessDay. The reserve position was reported to represent an 18-year high and a 30.52% increase compared with the corresponding period of 2025.
Higher external reserves provide an indicator of the country’s foreign-exchange position and external liquidity. However, reserve levels alone do not determine the exchange rate available to individuals and businesses in the official or parallel markets.
Dollar-to-Naira Exchange Rate Today: September 21, 2026
|
Market |
Reported exchange rate |
|---|---|
|
NFEM (official market) |
₦1,331.20/$ |
|
Live USD/NGN benchmark |
₦1,330.65/$ |
|
Parallel market |
₦1,395/$ |
|
Official-to-parallel difference |
₦63.80/$ |
Rates are reported reference figures and may change during the trading day.
For Nigerians buying or selling dollars, the actual exchange rate may vary depending on the bank, Bureau de Change operator, transaction size and location. Parallel-market quotations are indicative and can change throughout the day.