The naira weakened marginally against the US dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM), closing at N1,331.25/$ on 21 September 2026, compared with N1,329.99/$ recorded on 18 September.
The latest movement represents a N1.26 depreciation, or 0.09%, in the value of the naira at the official foreign exchange market, according to data from the Central Bank of Nigeria (CBN).
In the parallel market, the dollar also strengthened against the naira, rising to N1,373/$ on 22 September from N1,372/$ the previous day, according to Bureau de Change operators.
The N1 increase represents a 0.07% depreciation of the naira in the parallel market. The gap between the parallel-market rate and the latest NAFEM rate stood at about N42/$.
Pound, Euro and Canadian Dollar Rates
The British pound strengthened slightly against the naira in the parallel market, rising to N1,836/£1 from N1,835/£1. The N1 movement represents a 0.05% depreciation of the naira against sterling.
The euro remained unchanged at N1,575/€1 while the Canadian dollar rose to N979/C$1 from N978/C$1, representing a N1, or 0.10%, depreciation of the naira against the Canadian currency.
Nigeria’s External Reserves Rise to $54.720 Billion
Nigeria’s external reserves increased to $54.720 billion as of 18 September 2026, from $54.695 billion on 17 September, according to CBN data. The $25 million increase represents a 0.05% rise in the country’s external reserves.
