The Nigerian naira is trading at different rates against the US dollar across the official foreign exchange market and the parallel market as of Tuesday, September 1, 2026.
At the Nigerian Foreign Exchange Market (NFEM), the dollar was quoted at approximately ₦1,332.44 based on the latest available official data for August 31. The Central Bank of Nigeria (CBN) describes the NFEM rate as a volume-weighted average and the official exchange rate for the day.
Meanwhile, rates in the parallel market were reported at around ₦1,390 to ₦1,405 per dollar, depending on whether dollars are being bought or sold. Other market trackers put the rate within the range of ₦1,400 to ₦1,415.
This represents a gap of roughly ₦60 to ₦80 between the official NFEM rate and the parallel-market rate.
Recent figures suggest that the naira has maintained relative strength in the official market, supported by improved dollar liquidity and stronger external reserves. NFEM turnover also reportedly increased by 16.43 percent to $1.06 billion, up from $913.76 million, although the number of transactions declined.
For Nigerians buying or selling dollars today, the actual exchange rate may vary depending on the bank, Bureau de Change operator, location, transaction size and prevailing market demand.
As of September 1, the indicative rates are:
- Official NFEM: $1 = approximately ₦1,332–₦1,338
- Parallel market: $1 = approximately ₦1,390–₦1,415
Exchange rates may fluctuate throughout the day as market conditions change.
.jpeg)
.jpeg "Sunayen kofofin aljanna guda takwas 8")
0 Comment about the Post: