The Nigerian naira is trading at different rates against the United States dollar in the official Nigerian Foreign Exchange Market (NFEM) and the parallel market on Thursday, September 17, 2026.
The latest available market figures put the dollar at approximately ₦1,330.31 in the official market as of Thursday morning. The figure represents the latest indication for the NFEM, where exchange rates are determined by market transactions.
The Central Bank of Nigeria (CBN) defines the NFEM rate as a volume-weighted average and the official exchange rate for the day.
In the parallel market, the dollar is trading at approximately ₦1,380 for buying and ₦1,385 for selling, based on the latest available figures from the previous trading session.
On Wednesday, the naira traded at ₦1,329.86 to the dollar at the NFEM, compared with ₦1,329.15 on Tuesday, representing a marginal depreciation of 71 kobo. The parallel-market rate was around ₦1,385 per dollar.
The latest figures show that the difference between the official rate and the parallel-market selling price remains relatively small compared with periods earlier in the year when the gap was considerably wider.
For Nigerians purchasing dollars through the parallel market, the prevailing selling rate of about ₦1,385 means $100 would cost approximately ₦138,500, while $1,000 would require about ₦1.385 million.
Those selling dollars to parallel-market dealers at around ₦1,380 would receive approximately ₦138,000 for $100 and ₦1.38 million for $1,000.
Parallel-market exchange rates may differ depending on the location, dealer, transaction size and prevailing demand and supply conditions. Rates may also fluctuate throughout the day.
Recent movements in the foreign exchange market have been influenced by factors including dollar liquidity, demand from importers and other businesses, foreign exchange inflows and developments in Nigeria’s external reserves.
The naira’s performance in the official market also remains important to businesses and individuals seeking foreign exchange for international payments, imports, travel, tuition and other dollar-denominated expenses.
As of Thursday, September 17, 2026, the latest available figures therefore put the dollar at approximately ₦1,330.31 in the official market, while the parallel market is trading around ₦1,380 for buying and ₦1,385 for selling.