The naira weakened marginally against the US dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday, September 14, 2026, while the parallel-market dollar rate remained unchanged at ₦1,380.
Data contained in a daily currency-rate report attributed to the Central Bank of Nigeria (CBN) showed the official exchange rate at ₦1,328.50/$1, compared with ₦1,328.00/$1 on the previous trading day. The ₦0.50 movement represents a marginal 0.04% depreciation of the naira at the official market.
The official NAFEM rate remains significantly below the parallel-market rate, where the dollar was quoted at ₦1,380/$1 on September 14, unchanged from the previous day. This leaves a gap of approximately ₦51.50 per dollar between the reported NAFEM rate and the parallel-market rate.
The pound was quoted at ₦1,845/£1, up from ₦1,840/£1 previously with the ₦5 increase representing a 0.27% depreciation of the naira against the pound while the euro, however, remained unchanged at ₦1,560/€1.
Against the Canadian dollar, the naira strengthened slightly, with the exchange rate falling to ₦985/C$1 from ₦990/C$1. This represents a 0.51% appreciation of the naira against the Canadian dollar.
Foreign Reserves Rise to $54.41 billion
Nigeria’s reserves rose to $54.410 billion on September 10, from $54.283 billion on September 9, according to the CBN figures shown in the report.
The increase of about $127 million represents a 0.23% rise in one day.
The reserve position is an important indicator of the country’s external liquidity and its capacity to meet foreign-exchange obligations.
For the naira, stronger external reserves can provide greater capacity for the monetary authorities to support foreign-exchange market liquidity, although the exchange rate is also determined by broader market conditions, including dollar supply, import demand, capital flows and monetary policy.
