Naira to Dollar Rate Today: ₦1,331 Official, ₦1,395 Parallel Market

The naira began the week relatively steady against the US dollar, with the currency trading at different levels in Nigeria’s official and parallel foreign exchange markets.

In the official market, the latest available NFEM data showed the naira at ₦1,331.20 to the dollar, based on the confirmed rate for Friday, September 18.

The latest figure was slightly stronger than the previous rate of ₦1,331.28/$, indicating only marginal movement in the official market.

A live USD/NGN benchmark was around ₦1,330.65/$ on Monday morning, suggesting that the naira remained around the ₦1,330 mark during early trading.

However, the dollar continued to command a higher rate in the parallel market, where it was quoted at approximately ₦1,395/$.

This created a spread of roughly ₦63.80 per dollar between the NFEM rate and the parallel-market quotation.

The parallel market has continued to trade above the official market in recent sessions, although the premium changes as dollar availability and demand shift.

The official market has, meanwhile, seen relatively limited movement in recent sessions, with the naira trading within a comparatively narrow range.

External reserves hit $54.61bn

Nigeria’s foreign reserves also remained a key indicator for the country’s external position.

According to CBN data cited by BusinessDay, external reserves reached $54.61 billion as of September 14. The figure was described as an 18-year high and was 30.52 per cent higher than the level recorded during the corresponding period of 2025.

Current dollar-to-naira rates

As of Monday, September 21, the reported reference rates were:

• NFEM/official rate: ₦1,331.20/$
• Live USD/NGN benchmark: ₦1,330.65/$
• Parallel-market rate: ₦1,395/$
• NFEM-to-parallel difference: about ₦63.80/$

However, individuals and businesses may receive different rates when buying or selling dollars. Banks, Bureau de Change operators and other dealers can quote different prices based on transaction size, location, margins and prevailing market conditions.

Parallel-market rates are particularly fluid and may change several times during the day.

Therefore, as of September 21, 2026, the latest available reference figures place the dollar at around ₦1,331.20 in the NFEM and ₦1,395 in the parallel market, while the live USD/NGN benchmark is approximately ₦1,330.65/$.

Africans Angle News