The naira records marginal movement at the official market as parallel-market rates remain relatively stable.
The Nigerian naira is trading at different rates against the United States dollar across the official foreign exchange market and the parallel market on Thursday, September 17, 2026.
The latest available data puts the dollar at approximately ₦1,330.31 at the Nigerian Foreign Exchange Market (NFEM).
The Central Bank of Nigeria (CBN) describes the NFEM rate as the volume-weighted average exchange rate for the day.
In the parallel market, the dollar is quoted at approximately ₦1,380 for buying and ₦1,385 for selling, based on the latest available rates.
Wednesday’s Exchange Rate
On Wednesday, September 16, the naira traded at ₦1,329.86 per dollar at the NFEM, compared with ₦1,329.15 on Tuesday.
The movement represented a marginal depreciation of 71 kobo.
Meanwhile, the parallel-market rate remained around ₦1,385 per dollar.
Dollar-To-Naira Conversion
At the parallel-market selling rate of ₦1,385:
- $100 costs approximately ₦138,500.
- $500 costs approximately ₦692,500.
- $1,000 costs approximately ₦1.385 million.
At the buying rate of ₦1,380:
- $100 yields approximately ₦138,000.
- $500 yields approximately ₦690,000.
- $1,000 yields approximately ₦1.38 million.
Parallel-market rates may vary depending on the dealer, location, transaction size and market demand. Rates can also change throughout the day.
The naira’s performance remains important for importers, businesses, international travellers, students paying overseas tuition and individuals making dollar-denominated payments.
