The naira strengthened to ₦1,380 per US dollar in Nigeria’s parallel market on Tuesday, September 15, 2026, down from ₦1,390 recorded on Monday, September 14.
The latest figure was reported on Wednesday, September 16, and therefore represents the latest reported Tuesday market rate. Check the live intraday rate for today here.
At the official Nigerian Foreign Exchange Market (NFEM), the naira moved slightly weaker, with the indicative rate at ₦1,329.50 per dollar, compared with ₦1,329 on Monday.
Dollar to Naira Rate
| Market | Latest reported rate | Market date |
|---|---|---|
| Official NFEM | ₦1,329.50/$ | September 15, 2026 |
| Parallel market | ₦1,380/$ | September 15, 2026 |
| Difference | ₦50.50/$ | September 15, 2026 |
The parallel-market figure is a reference rate. Actual dollar quotations can vary by dealer, location, transaction size and available dollar supply.
At ₦1,380/$, $100 is equivalent to approximately ₦138,000, while $1,000 is about ₦1.38 million.
Naira Gains ₦10 in Parallel Market
The naira improved from ₦1,390/$ on Monday to ₦1,380/$ on Tuesday, representing a ₦10 reduction in the parallel-market dollar rate.
In percentage terms, the move represents an approximately 0.72% appreciation of the naira against the dollar based on the parallel-market reference.
The latest movement shows that the parallel-market dollar rate remained below the ₦1,400 level while the official and parallel-market rates continued to move closer together.
Official NFEM Rate Moves to ₦1,329.50
The official exchange rate moved in the opposite direction.
According to CBN data cited in reporting, the NFEM indicative rate increased from ₦1,329/$ to ₦1,329.50/$ on Tuesday. That represents a 50-kobo depreciation of the naira per dollar.
The difference between the two markets was therefore:
₦1,380 − ₦1,329.50 = ₦50.50 per dollar
The gap narrowed from approximately ₦61/$ on Monday to ₦50.50/$ on Tuesday.
Official vs Parallel Dollar Rate
The latest figures show the parallel-market reference rate about 3.80% above the official NFEM rate.
| Indicator | Amount |
|---|---|
| Official NFEM rate | ₦1,329.50/$ |
| Parallel-market rate | ₦1,380/$ |
| Dollar-rate difference | ₦50.50/$ |
| Parallel-market premium | ≈3.80% |
The narrowing spread means the two reported reference rates were closer on September 15 than they were on the previous trading day.
NFEM Turnover Jumps 177.6%
Trading activity in the official foreign-exchange market also increased significantly.
NFEM interbank turnover rose 177.6% to $262.12 million, compared with $94.4 million in the previous session.
The increase points to substantially higher trading activity in the official market during the reported session. However, turnover by itself does not determine the direction of the naira.
Dollar supply, demand, liquidity, foreign-exchange inflows and market transactions remain important factors in determining exchange-rate movements.
How Much Is $100, $500 and $1,000 in Naira?
Using the reported parallel-market reference of ₦1,380/$:
| US dollars | Naira equivalent |
|---|---|
| $1 | ₦1,380 |
| $10 | ₦13,800 |
| $50 | ₦69,000 |
| $100 | ₦138,000 |
| $500 | ₦690,000 |
| $1,000 | ₦1,380,000 |
| $5,000 | ₦6,900,000 |
| $10,000 | ₦13,800,000 |
At the official NFEM rate of ₦1,329.50/$, $1,000 is approximately ₦1,329,500.
These are mathematical conversions based on the reported reference rates and do not represent guaranteed transaction rates from banks or dealers.
What the Latest Naira Movement Means
The latest data show three important developments in Nigeria’s FX market:
- The parallel-market dollar rate fell by ₦10 to ₦1,380/$.
- The official NFEM rate moved slightly higher to ₦1,329.50/$.
- The official-parallel market gap narrowed to ₦50.50/$.
The increase in NFEM turnover to $262.12 million also indicates substantially higher official-market activity during the reported session.
For people buying dollars, the actual rate available remains important because parallel-market quotes can differ from one dealer or location to another.
Naira Exchange Rate Today: Date and Rate Timing
For clarity, the figures in this report should be read as follows:
Publication date: Wednesday, September 16, 2026
Latest market session reported: Tuesday, September 15, 2026
Parallel-market reference: ₦1,380/$
Official NFEM rate: ₦1,329.50/$
Previous reported session: Monday, September 14, 2026
Therefore, ₦1,380/$ should not be described as a confirmed live September 16 intraday rate without a separate September 16 market quotation.
Key Naira Exchange Rate Figures
| Item | Latest figure |
|---|---|
| Parallel-market dollar | ₦1,380/$ |
| Previous parallel rate | ₦1,390/$ |
| Parallel-market movement | ₦10 lower |
| Official NFEM rate | ₦1,329.50/$ |
| Previous NFEM rate | ₦1,329/$ |
| Official-market movement | 50k weaker |
| Official/parallel gap | ₦50.50/$ |
| NFEM interbank turnover | $262.12 million |
| Turnover change | +177.6% |
Bottom Line
The naira strengthened to ₦1,380 per dollar in the parallel market on Tuesday, September 15, 2026, from ₦1,390 on Monday.
Meanwhile, the official NFEM rate moved slightly weaker to ₦1,329.50/$, leaving a difference of approximately ₦50.50 per dollar between the two reported market rates.
Exchange rates can change during the trading day. Parallel-market rates are indicative and may vary by dealer, location, transaction size and dollar availability.
