The dollar-to-naira exchange rate remained a key focus on Wednesday, September 2, 2026, as the naira continued to trade at different rates across Nigeria’s official and parallel foreign exchange markets.
At the Nigerian Foreign Exchange Market (NFEM), the latest available data from the Central Bank of Nigeria showed that the naira traded at N1,329.43 to the US dollar on September 1, while the currency closed at N1,329.00 per dollar.
The NFEM rate is determined using the volume-weighted average of transactions conducted in the official foreign exchange market.
Based on the latest official NFEM benchmark, $1 was valued at approximately N1,329.43, while $100 was equivalent to about N132,943.
Meanwhile, the dollar continued to trade above the official NFEM rate in the parallel market.
Live data published by Aboki Forex on September 2 showed that the dollar was being bought at around N1,400 and sold at approximately N1,405 in the parallel market.
Another market tracker, NairaToday, quoted the parallel-market dollar at around N1,410, highlighting the variations that can occur between different dealers and locations in the unregulated market.
The difference between the official NFEM rate and parallel-market quotations reflects the ongoing disparity between regulated foreign exchange transactions and rates influenced by supply and demand outside the formal banking system.
For Nigerians buying or selling foreign currency, the actual exchange rate may differ depending on the dealer, location, transaction volume and prevailing market conditions. Parallel-market rates can also change several times within a day.
As of September 2, the latest official NFEM benchmark stood at about N1,329.43/$1, while the parallel market was quoting the dollar at approximately N1,400-N1,410.
The exchange rates remain subject to further changes as foreign exchange trading continues throughout the day.