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 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 naira strengthened in the parallel market on Monday, appreciating to ₦1,470 per dollar from ₦1,476 recorded over the weekend.

However, at the Nigerian Foreign Exchange Market (NFEM), the naira experienced slight pressure, weakening to ₦1,450/$ compared to ₦1,446.9/$ last weekend, according to fresh data released by the Central Bank of Nigeria (CBN).

This reflects a ₦3.1 depreciation at the official window.

With these movements, the exchange rate gap between the parallel market and the NFEM further narrowed to ₦20, down from ₦29.1 recorded last Friday — indicating continued alignment between both markets as liquidity conditions improve.

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The naira maintained relative stability on Tuesday as improved liquidity in the Nigerian Foreign Exchange Market (NFEM) kept the official rate stronger than prices quoted in the parallel market.

Data from the NFEM showed that the volume-weighted closing rate settled at ₦1,448.03 per US dollar on November 18, 2025—approximately ₦5.60 or 0.39% stronger than the previous day.

Meanwhile, black-market trackers quoted the dollar between ₦1,455 and ₦1,460, keeping the spread at roughly ₦7–₦12 above the official market price. Bureau de change operators say cash demand continues to push retail USD prices above the formal window.

Understanding the Rate Movements

The NFEM—also listed as NAFEM or the I&E window—remains the primary benchmark for institutional, interbank and corporate FX flows. By contrast, the parallel market reflects on-the-spot cash demand and supply conditions.

Analysts attribute the recent stability to better FX inflows, reduced volatility, and improved liquidity following the Central Bank of Nigeria’s interest-rate cut earlier in September. Softer inflation pressures and targeted CBN interventions have also helped ease the sharp swings that dominated trading over the past year.

Impact on Businesses and Consumers

Corporate importers and firms with foreign-currency exposure continue to favour the NFEM window, where rates are more predictable and typically lower.
However, SMEs, travellers, and individuals needing immediate physical dollars still face higher cash prices in the parallel market.

Remittance beneficiaries are also seeing varied outcomes depending on whether funds are received through formal banks or informal currency exchanges.

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