The dollar-to-naira exchange rate opened the new trading week on Monday, September 28, 2026, with market participants monitoring movements in the Nigerian Foreign Exchange Market (NFEM) and the parallel market.
The official exchange rate reflects transactions in Nigeria’s formal foreign exchange market, while the parallel market rate is determined by demand and supply among currency dealers outside the official market.
As of early trading on Monday, the latest available indicative data puts the official dollar exchange rate at approximately ₦1,327.16 per dollar. The parallel market rate is yet to be independently confirmed for September 28.
The Central Bank of Nigeria (CBN) calculates the official NFEM rate using a volume-weighted average of transactions in the market. The closing rate is determined by trading activity for the day.
In the parallel market, the dollar was last quoted at approximately ₦1,385 on Friday, September 25, according to BusinessDay, which reported that the rate remained stable during the week.
The parallel market rate on Monday may differ from Friday’s quotation, depending on dollar supply, demand and individual Bureau De Change operators.
The naira ended the previous trading week broadly stable across the official and parallel markets, supported by stronger external reserves.
The official NFEM closing rate and updated parallel market quotations may change as trading progresses.
