Politics
Naira to Dollar Exchange Rate Today, Sept 18 2026
The Naira to Dollar exchange rate today, Friday, September 18, 2026, shows the Nigerian currency weakening against the United States dollar in both the official and parallel markets.
The dollar was quoted at about ₦1,331 in the official market, while the parallel-market rate rose to approximately ₦1,375 per dollar on Friday. Data reported from the Central Bank of Nigeria (CBN) showed the official rate rising from ₦1,329.56 per dollar on Wednesday.
Key Highlights
- Dollar rises to about ₦1,331 in the official market.
- Parallel-market dollar rate increases to about ₦1,375.
- Naira loses about ₦1.44 against the dollar at the official market from Wednesday.
- Official and parallel-market rates differ by about ₦44 per dollar.
- $100 costs approximately ₦137,500 at the reported parallel-market selling rate.
- $1,000 costs about ₦1.375 million at the same rate.
- Reuters reported that the naira remained broadly stable amid CBN dollar sales and relatively weak import demand.
Naira To Dollar Exchange Rate Today
The official-market exchange rate stood at approximately ₦1,331 per dollar on Friday.
The latest figure represents a depreciation from the ₦1,329.56 per dollar recorded on Wednesday, meaning the naira lost about ₦1.44 against the US currency between the two reported quotations.
The official rate is based on transactions in Nigeria’s formal foreign exchange market and is closely watched by businesses and individuals with dollar-denominated obligations.
Dollar Rises To ₦1,375 In Parallel Market
In the parallel market, the dollar was quoted at about ₦1,375 on Friday, compared with approximately ₦1,370 on Wednesday, a ₦5 increase in the dollar’s parallel-market price.
Based on the reported rates, the difference between the official and parallel markets was approximately ₦44 per dollar on Friday.
Parallel-market rates are not uniform and can change depending on the location, dealer, transaction size and prevailing demand and supply conditions.
How Much Is $100, $500 And $1,000 In Naira?
At a parallel-market rate of ₦1,375 per dollar:
| US Dollars | Approximate Naira Value |
|---|---|
| $100 | ₦137,500 |
| $500 | ₦687,500 |
| $1,000 | ₦1,375,000 |
These calculations are based on the reported parallel-market rate and may differ from the amount offered by individual dealers.
Read also:
Reuters Reports Naira At ₦1,328/$
Reuters reported on Thursday that the naira was trading at around ₦1,328 per dollar in the official market, while street-market transactions were around ₦1,390 per dollar.
The Reuters report said expectations of continued dollar sales by the Central Bank of Nigeria, alongside relatively weak import demand, were supporting a broadly stable outlook for the naira.
The differing quotations also illustrate how rates can vary depending on the timing and source of market data.
What Is Driving The Naira-Dollar Exchange Rate?
Market participants continue to monitor foreign exchange liquidity, dollar demand and CBN interventions as factors affecting the naira’s performance.
Developments in foreign exchange inflows, demand from importers and businesses, and the availability of dollars can also influence exchange-rate movements. Reuters said traders expected Nigeria’s currency to remain broadly stable, with CBN interventions and lower import demand providing support.
What The Dollar Rate Means For Nigerians
Changes in the Naira to Dollar exchange rate can affect the cost of imported goods and services, international payments, school fees, travel expenses and other dollar-denominated transactions.
Businesses that depend on imported raw materials or equipment may also face changes in operating costs when the naira moves against the dollar.
For Nigerians purchasing dollars through the parallel market, the reported ₦1,375 rate means that $1,000 would cost approximately ₦1.375 million.
As of Friday, September 18, 2026, the latest reported figures therefore put the dollar at about ₦1,331 in the official market and ₦1,375 in the parallel market. Parallel-market quotations can change during the day and may differ across locations and dealers.
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