The Nigerian naira is trading at different rates against the United States 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 about ₦1,332.44 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.
In the parallel market, the dollar is trading at about ₦1,390 to ₦1,405, depending on whether the transaction involves buying or selling dollars.
NgnRates listed the parallel-market buying rate at ₦1,390 and selling rate at ₦1,405, while other market trackers reported rates around ₦1,400 to ₦1,415.
The figures indicate a gap of roughly ₦60 to ₦80 between the official NFEM rate and the parallel-market price.
The latest data also indicate that the naira has maintained relative strength in the official market.
AbokiFX reported that the naira strengthened to ₦1,338.59 per dollar in the NFEM on Thursday, supported by improved dollar liquidity and stronger external buffers, while parallel-market rates remained around ₦1,400 per dollar.
NFEM turnover also rose significantly in the latest reported session.
Data cited by AbokiFX showed that total turnover increased by 16.43 per cent to $1.06 billion from $913.76 million, although the number of deals declined.
In the parallel market, AbokiFX’s latest accessible Lagos data did not display a fresh quote for August 31, with the platform showing zeros for the latest listed session and directing users to its subscription service for current rates.
For Nigerians buying or selling dollars, the actual rate may vary depending on the bank, Bureau de Change operator, location, transaction size and prevailing market demand.
As of September 1, the indicative rate is that $1 is worth approximately ₦1,332 to ₦1,338 at the official NFEM window, while the parallel market is around ₦1,390 to ₦1,415 per dollar.
The rates may change during the day as market conditions evolve.
