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.

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The naira weakened by N11.10 against the US dollar in the interbank foreign exchange market on Wednesday, September 9, 2026, closing at N1,334/$ compared with N1,322.90/$ recorded on Tuesday.

The latest exchange rate data, analysed from figures published on the Central Bank of Nigeria (CBN) website, showed a 0.84 per cent depreciation of the naira.

The decline reversed some of the currency’s recent gains in the Nigerian Foreign Exchange Market (NFEM).

Despite the weaker exchange rate, interbank foreign exchange turnover increased significantly during the session, rising to $94.43 million from $55.60 million recorded on Tuesday.

Interbank FX turnover rises 70%

The latest figure represents an increase of $38.82 million, or 69.82 per cent, in interbank foreign exchange transactions.

The market recorded 86 interbank deals on Wednesday, compared with 58 transactions recorded in the previous session.

This represents an increase of 28 deals, or 48.28 per cent.

However, the increase in transaction activity did not translate into a stronger naira, as the currency closed weaker against the dollar.

Naira trades between N1,321.50 and N1,334/$

During Wednesday’s trading session, the naira traded between a high of N1,334/$ and a low of N1,321.50/$.

The weighted average exchange rate stood at N1,329.21/$, while the simple average was N1,329.44/$.

As of the time of filing the report, the CBN had not published Wednesday’s NFEM deals and total turnover, while the reported $94.43 million represented interbank transactions.

On Tuesday, the naira closed at N1,322.90/$ after trading between N1,318/$ and N1,323/$.

The session recorded 248 deals, including 58 interbank transactions, while total NFEM turnover stood at $933.78 million.

Naira remains stronger than August level

Wednesday’s depreciation came after the naira strengthened to N1,322.50/$ on September 4 and N1,320/$ on September 7 before weakening to N1,322.90/$ on September 8.

The currency had generally appreciated since late August, moving from N1,349.99/$ on August 24 to N1,320/$ on September 7.

At N1,334/$, the naira is now N14 weaker than its September 7 closing rate, representing a depreciation of about 1.06 per cent over the two trading sessions.

However, the currency remains stronger than its August 24 level by about N15.99/$, equivalent to an appreciation of roughly 1.18 per cent.

External reserves, oil output support Nigeria’s FX position

Nigeria’s external position has continued to receive support from foreign exchange inflows and improved oil earnings.

Nigeria’s external reserves reportedly crossed the $54 billion mark for the first time since December 2008, reaching $54.08 billion as of September 3, 2026.

Operational data from the Nigerian National Petroleum Company (NNPC) also showed relatively strong crude oil and condensate production during the second quarter.

Production averaged 1.68 million barrels per day in April, 1.73 million barrels per day in May and 1.72 million barrels per day in June, while July production stood at 1.68 million barrels per day.

Global dollar movement adds pressure

Developments in international financial markets could also influence Nigeria’s domestic foreign exchange conditions.

The dollar index was around 98.81 after moving away from a three-week low, while the euro and pound traded at approximately $1.1633 and $1.3547 respectively.

The yen’s recent gains also eased as investors looked ahead to the Bank of Japan’s monetary policy decision.

For Nigeria, developments in global currency markets remain an important factor in assessing domestic foreign exchange conditions.

Nigeria’s FX demand remains elevated

Nigeria’s total foreign exchange utilisation stood at $50.93 billion in 2025, representing the highest annual level since 2019.

Quarterly utilisation stood at $12.71 billion in the first quarter of 2025 and increased to $13.13 billion in the second quarter.

It later moderated to $12.01 billion in the third quarter before rising again to $13.08 billion in the fourth quarter.

The latest movement comes amid continued adjustments in Nigeria’s foreign exchange market, with the naira recording gains and losses as demand, liquidity and global currency conditions influence trading.

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The Nigerian Naira maintained relative stability against the United States Dollar during Tuesday’s trading session, holding firmly within its recently established horizontal corridor. Official transaction data published by the Central Bank of Nigeria (CBN) revealed that the local legal tender settled at an average reference rate of ₦1,379.80 per Dollar at the close of business. Financial analysts tracking the market noted that this performance highlights a period of minor consolidation for the domestic currency as supply side variables adjust to seasonal requirements.

Operating metrics within the official Nigerian Foreign Exchange Market (NFEM) indicated that commercial orders consistently cleared inside a narrow band between ₦1,370 and ₦1,380 per Dollar. The calculation of this daily baseline relies on a comprehensive volume-weighted average across all verified banking transactions, making it the supreme national parameter for currency valuations. Currency analysts observed that local market dynamics remain strongly anchored by ongoing institutional interventions, neutralizing potential macroeconomic shocks and matching domestic demand patterns.

Concurrently, parallel alternative channels—frequently referred to as the black market—witnessed marginal deviations based on logistical constraints and transactional volumes across varying geographical zones. In major urban trading hubs, Bureau De Change operators offered procurement quotations hovering near ₦1,390 per Dollar for institutional purchases, while secondary consumer liquidation rates shifted between ₦1,400 and ₦1,405 per Dollar. Financial market experts suggest that the minimal discrepancy existing between official and alternative windows indicates healthier market liquidity and diminished speculative pressure across the broader economy.

The post Naira Stabilizes Against Dollar on June 30, 2026 appeared first on Housing TV Africa.

The Nigerian currency appreciated to N1,365 per dollar on Thursday, gaining slightly against the U.S. dollar amid a broader decline in the global value of the greenback.

Data from the Central Bank of Nigeria (CBN) showed that the naira strengthened from N1,369/$ recorded on Wednesday, reflecting improved investor sentiment in global currency markets.

Global Dollar Weakness Drives Gains

The naira’s appreciation comes as the U.S. dollar heads for its sharpest weekly decline since January, driven by easing geopolitical tensions and renewed optimism over a ceasefire in the Gulf region.

Market analysts attribute the shift to expectations that oil shipments will resume through key global routes, particularly the Strait of Hormuz, following the ceasefire agreement.

Further direction in currency markets is expected to depend on ongoing diplomatic engagements between the United States and Iran.

Market Data Signals Currency Shift

Recent market data highlights a broad-based weakening of the U.S. dollar:

• The U.S. Dollar Index declined by 1.3 per cent this week
• The naira traded within a range of N1,351.5/$ to N1,365/$, with an average rate of N1,359.9/$
• Nigeria’s external reserves fell to $48.89 billion, down from $49.18 billion earlier in April

The weakening dollar reflects a shift away from safe-haven assets as geopolitical tensions begin to ease.

Major Currencies Gain Ground

Other global currencies also strengthened against the dollar:

• The euro rose to $1.1690
• The British pound gained 1.8 per cent to $1.3424
• The Chinese yuan appreciated to 6.83 per dollar in offshore trading
• The Australian and New Zealand dollars recorded weekly gains of nearly 3 per cent

These movements signal renewed investor confidence and a transition toward risk-sensitive assets.

Geopolitical Tensions Ease

The recent improvement in global currency markets follows weeks of heightened geopolitical uncertainty.

In March, tensions linked to the Middle East crisis drove investors toward the dollar as a safe-haven asset, strengthening the currency significantly.

However, the ceasefire agreement has led to a reversal of these positions, triggering a decline in the dollar’s value.

Despite the progress, uncertainties remain, particularly around shipping activity in the Strait of Hormuz, which has yet to return to normal levels.

Implications for Nigeria

For Nigeria, a weaker dollar could provide short-term relief for the naira, especially given the country’s dependence on oil exports and external reserves.

However, the continued decline in foreign reserves may limit the sustainability of the currency’s gains if not supported by stronger inflows.

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