The naira weakened marginally against the US dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM), closing at N1,329.00/$1 on Monday, September 14, 2026, according to data from the Central Bank of Nigeria (CBN).
The latest official rate represents a depreciation of N0.50, or 0.04%, from the N1,328.50/$1 recorded at the close of trading on Friday, September 11.
In the parallel market, however, the naira recorded a stronger performance on Tuesday, September 15. Bureau de Change (BDC) operators quoted the dollar at N1,375/$1, down N5 from the N1,380/$1 rate recorded the previous day. The parallel-market movement represents a 0.36% appreciation in the value of the naira against the dollar.
The gap between the official and parallel-market rates stood at approximately N46/$ on Tuesday, highlighting the continuing difference between pricing in the formal and informal segments of Nigeria’s foreign exchange market.
The British pound was quoted at N1,847/£1, compared with N1,845/£1 previously, representing a N2, or 0.11%, decline in the value of the naira against the pound.
The euro also strengthened against the naira, rising to N1,570/€1 from N1,560/€1, a N10, or 0.64%, movement. The Canadian dollar increased marginally to N986/C$1 from N985/C$1, representing a N1, or 0.10%, movement.
External Reserves Continue to Rise
Nigeria’s external reserves continued to rise, providing additional support for the country’s foreign-exchange position. CBN data showed that foreign exchange reserves increased to $54.487 billion as of September 11, 2026, from $54.410 billion recorded on September 10.
The $77 million increase represents a 0.14% rise in one day with the continued accumulation of reserves coming as Nigeria’s foreign-exchange market remains a key focus for investors, businesses and households.
