The dollar-to-naira exchange rate opened the new trading week on Monday, September 28, 2026, as attention remained focused on developments in the Nigerian Foreign Exchange Market (NFEM) and the parallel market.
The official rate reflects transactions conducted through Nigeria’s formal foreign exchange market, while the parallel market rate is influenced by demand and supply among currency dealers operating outside the official market.
As trading began on Monday, the latest available indicative data showed the official dollar exchange rate at approximately ₦1,327.16 per dollar. The parallel market rate for September 28 had yet to be independently confirmed.
The Central Bank of Nigeria (CBN) determines the official NFEM rate using a volume-weighted average of transactions carried out in the market, with the closing rate reflecting the day’s trading activity.
In the parallel market, the dollar was last quoted at about ₦1,385 on Friday, September 25, according to BusinessDay, which reported that the rate had remained stable throughout the week.
However, the parallel market rate on Monday could differ from Friday’s figure, depending on dollar supply, demand and the rates offered by individual Bureau De Change operators.
The naira closed the previous trading week relatively stable in both the official and parallel markets, amid support from stronger external reserves.
The official NFEM closing rate and parallel market quotations are subject to change as trading progresses during the day.