The Nigerian naira weakened against the US dollar on Friday, September 18, 2026, with the local currency losing ground in both the official and parallel foreign exchange markets.

At the Nigerian Foreign Exchange Market (NFEM), the dollar was quoted at about ₦1,331, according to the latest data reported by the Central Bank of Nigeria (CBN).

In the parallel market, the dollar traded at approximately ₦1,375, representing a gap of about ₦44 per dollar between the two markets.

The official-market rate represents the CBN’s indicative NFEM exchange rate, which is derived from transactions in the formal foreign exchange market.

Dollar to naira exchange rate today

Market	Dollar rate
Official/NFEM	₦1,331/$
Parallel market	₦1,375/$
Market gap	₦44/$

The naira’s official-market rate moved from about ₦1,329.56/$ on Wednesday to ₦1,331/$, representing a depreciation of approximately ₦1.44 per dollar.

Meanwhile, the parallel-market rate rose from about ₦1,370/$ to ₦1,375/$, indicating a ₦5 depreciation in the value of the naira in that market.

What the exchange rate means for dollar buyers

At the parallel-market rate of ₦1,375/$, a buyer seeking $100 would need approximately ₦137,500, while $1,000 would cost about ₦1.375 million.

At the official-market indication of ₦1,331/$, the same $1,000 would be valued at approximately ₦1.331 million, creating a difference of about ₦44,000 between the two rates.

However, the actual rate available to individuals and businesses can vary depending on the authorised financial institution, dealer, transaction size and prevailing market conditions.

Naira remains relatively close across markets

Despite the latest depreciation, the difference between the official and parallel-market rates remains considerably narrower than during periods of severe foreign exchange market dislocation.

Recent market data also show the naira trading within a relatively tight range around the ₦1,300/$ level in the official market. External market data put USD/NGN at about ₦1,331 on September 18, broadly consistent with the official-market indication.

The exchange rate remains important for Nigerian businesses and households with dollar-linked obligations, including importers, international travellers, students paying overseas tuition and companies making foreign payments.

For businesses, even relatively small movements in the exchange rate can affect the naira cost of imported goods, technology services, raw materials and other dollar-denominated expenses.

Parallel-market rates can also change during the day as demand and supply conditions shift, meaning quoted rates should be treated as market indications rather than fixed prices.

As of Friday, September 18, 2026, the latest available figures therefore put the dollar at approximately ₦1,331 in the official market and ₦1,375 in the parallel market.