The Nigerian naira opened trading on Thursday, September 10, 2026, stronger in the Nigerian Foreign Exchange Market, NFEM, although it continued to trade at a weaker value in the parallel market.
Market data showed the official exchange rate at approximately ₦1,322.72 to the US dollar. The rate was recorded at ₦1,322.72 on September 9, with the same figure listed for September 10.
In the parallel market, the dollar was being traded between ₦1,380 and ₦1,390, depending on whether the transaction involved buying or selling. One market tracker reported a buying rate of ₦1,380 and a selling rate of ₦1,390 early on Thursday.
Another tracker also placed the dollar at around ₦1,390 on September 10, although parallel-market rates may differ depending on the dealer and location.
The gap between the official NFEM rate of ₦1,322.72 and the parallel-market selling price of ₦1,390 stood at about ₦67.28 per dollar.
The naira has recorded relative gains in the official market in recent trading sessions. Reports citing Central Bank of Nigeria data indicated that the currency traded at around ₦1,320 per dollar on September 8, following further appreciation at the official market.
Despite the recent improvement in the official market, the parallel-market rate remained higher, highlighting the continuing difference between formal foreign-exchange transactions and informal market pricing.
Exchange rates can fluctuate throughout the day in response to factors including dollar supply and demand, market activity and interventions by the Central Bank of Nigeria.
For individuals and businesses purchasing dollars for legitimate purposes such as international travel, school fees, imports or other transactions, the rate offered by a bank or licensed Bureau de Change may differ from both the official NFEM rate and parallel-market quotations.
Source: Vanguard
