Naira Gains Ground As Dollar Falls To ₦1,329.80 At Official Market

The Nigerian naira has recorded a modest gain against the United States dollar at the official foreign exchange market, with the latest available figures putting the currency at ₦1,329.80 per dollar on Tuesday, September 22, 2026.

According to Bush Radio Academy, the ₦1,329.80/$1 figure represents the most recent closing rate recorded at the Nigerian Foreign Exchange Market (NFEM) on Monday, September 21, based on data from the Central Bank of Nigeria (CBN). The rate improved slightly from the previous NFEM closing rate of ₦1,331.20/$1.

The movement indicates a modest appreciation of the naira in the official market, although the currency continues to trade at a different level in the parallel market.

In the parallel market, the dollar was reportedly selling at around ₦1,389, while the buying rate stood at approximately ₦1,381 per dollar. This leaves a difference of about ₦59.20 between the official NFEM rate and the reported parallel-market selling rate.

At the reported parallel-market selling rate, $1,000 would cost approximately ₦1.389 million, while a person selling $1,000 at the reported buying rate could receive about ₦1.381 million. Actual transactions may differ depending on the dealer, location, transaction size and prevailing market conditions.

The gap between the official and parallel markets reflects different pricing conditions and supply-and-demand dynamics across the two segments of Nigeria’s foreign exchange market. The CBN has stated that the NFEM operates under a willing-buyer, willing-seller framework, with market forces playing a role in determining exchange rates.

Exchange rates can also change during the day, particularly in the parallel market, where dollar availability and demand can influence quotations. Commercial banks and licensed Bureau de Change operators may therefore offer rates that differ from published reference figures.

As of Tuesday, September 22, 2026, the latest available figures place the dollar at ₦1,329.80 at the NFEM, while the reported parallel-market rates are around ₦1,381 for buying and ₦1,389 for selling.