The naira recorded different values against the United States dollar across Nigeria’s official Foreign Exchange Market and the parallel market on Tuesday, September 22, 2026.

Official data from the Central Bank of Nigeria (CBN) showed that the naira closed at N1,329.80 per dollar at the NFEM on Monday, September 21.

This figure represented an improvement from the previous session’s rate of N1,331.20 per dollar.

The NFEM rate is calculated as the volume-weighted average exchange rate derived from transactions carried out in Nigeria’s formal foreign exchange market, and it serves as the official exchange rate for each trading day.

At the parallel market, the dollar exchanged for about N1,389 on Monday, with buying rates reported at around N1,381.

This implies that a customer seeking to purchase $1,000 in the parallel market would need approximately N1.389 million at the prevailing selling rate.

On the other hand, someone selling $1,000 in the same market could receive roughly N1.381 million, with the exact amount varying by dealer and location.

The difference between the NFEM rate of N1,329.80 and the parallel-market selling rate of N1,389 stood at about N59.20 per dollar.

Analysts note that the naira’s performance in both markets continues to be shaped by dollar supply and demand dynamics, foreign exchange inflows, import-related demand, and ongoing monetary policy developments.

For Nigerians engaging in foreign currency transactions, actual rates may vary from the reference figures depending on the bank, Bureau de Change operator, transaction size, location, and time of transaction.

Parallel-market rates remain particularly sensitive to intraday fluctuations, while the NFEM rate reflects transactions strictly within the official market.

As of Tuesday, September 22, 2026, the latest confirmed figures placed the dollar at N1,329.80 at the NFEM and around N1,389 in the parallel market.