Connect with us

Politics

Naira Gains Slightly At ₦1,327.78 Against The Dollar…

Published

2 hours ago

on

The naira to dollar exchange rate today, Wednesday, September 23, 2026, shows the naira gaining slightly against the US dollar at the official foreign exchange market, while the currency also strengthened marginally in the parallel market.

Key Highlights

  • Naira appreciates to ₦1,327.78/$1 at the official NFEM.
  • Official rate gains ₦2.02 from Monday’s ₦1,329.80.
  • Dollar trades around ₦1,389/$1 in the parallel market.
  • Official-to-parallel market gap stands at about ₦61.22/$1.
  • $100 costs approximately ₦138,900 at the parallel rate.

The naira appreciated to ₦1,327.78 per dollar at the Nigerian Foreign Exchange Market (NFEM) on Tuesday, September 22, according to the latest available figures.

The latest rate represents a ₦2.02 gain compared with the ₦1,329.80 recorded at the official market on Monday.

In the parallel market, the dollar was selling for about ₦1,389 on Tuesday, compared with ₦1,390 recorded a day earlier.

The movement left the gap between the official and parallel-market rates at approximately ₦61.22 per dollar.

At the parallel-market rate of ₦1,389, buyers would need about ₦138,900 to purchase $100, while $500 would cost approximately ₦694,500 and $1,000 would require about ₦1.389 million.

The actual exchange rate available to buyers and sellers may vary depending on the location, dealer, transaction volume and prevailing demand and supply conditions.

Read also:

The latest movement comes amid continued developments in Nigeria’s foreign exchange market, where dollar liquidity, demand and monetary policy remain key factors influencing the value of the naira.

The Central Bank of Nigeria continues to monitor developments in the foreign exchange market as the naira maintains trading levels around the ₦1,300 mark at the official market.

Reuters had earlier reported that the naira remained relatively stable in September, with factors including central bank dollar sales and weaker import demand providing some support for the local currency.

For Wednesday, September 23, the latest available figures therefore place the dollar at ₦1,327.78 at the NFEM and around ₦1,389 in the parallel market.

However, exchange rates may change throughout the day as market participants respond to changes in dollar demand, supply and liquidity.

 

Related Topics:

Trending