The naira-dollar exchange rate continued to show a notable difference between Nigeria’s official and parallel foreign-exchange markets on Friday, September 11, 2026.
The latest available NFEM data showed the naira trading at ₦1,329.44 to the dollar, while the US currency was quoted at around ₦1,390 in the parallel market.
The figures represent a difference of ₦60.56 between the official exchange rate and the parallel-market selling rate.
How much is the dollar today?
At the latest parallel-market quotation, currency dealers were buying the dollar for about ₦1,380 and selling it at approximately ₦1,390.
This means Nigerians seeking to buy dollars from the parallel market would pay more than those able to access the currency at the latest official NFEM rate.
For $100, the parallel-market selling rate amounts to approximately ₦139,000, compared with about ₦132,944 at the NFEM rate.
The difference is roughly ₦6,056 for every $100 purchased at the two rates.
Official-parallel market spread remains
The parallel-market dollar is currently trading about 4.6 per cent above the latest official NFEM rate.
Recent market quotations have continued to place the dollar within the ₦1,380–₦1,390 range in the parallel market, showing that a gap remains between the two segments of Nigeria’s foreign-exchange market.
The differences in exchange rates can affect individuals and businesses that need foreign currency for international travel, tuition and school fees, imports, remittances and other legitimate transactions.
What could happen to the rates?
Foreign-exchange rates are not fixed and can change depending on prevailing market conditions.
Factors such as dollar availability, demand for foreign currency, trading activity and other developments within the forex market can influence rates throughout the day.
Parallel-market figures are also indicative, meaning individual dealers may offer different rates depending on their location, transaction size and prevailing market conditions.
The latest figures therefore provide a snapshot of the naira-dollar market on Friday and should not be regarded as a guaranteed rate for every transaction.