The naira weakened marginally against the US dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) to N1,329.50/$ , while the parallel-market rate remained unchanged at N1,375/$ on Wednesday, September 16, 2026.
According to Central Bank of Nigeria (CBN) data, the official NAFEM rate stood at N1,329.50/$ on September 15, compared with N1,329/$ on September 14. The N0.50 movement represents a 0.04% depreciation of the naira at the official market.
In the parallel market, the dollar was quoted at N1,375/$ on September 16, unchanged from the previous day, according to Bureau de Change operators. The difference between the parallel-market rate and the latest NAFEM rate was therefore about N45.50 per dollar, equivalent to a gap of roughly 3.4%.
The pound sterling also held steady at N1,847/£1 in the parallel market.
The euro, however, strengthened against the naira, rising to N1,575/€1 from N1,570 previously. The N5 movement represents a 0.32% depreciation of the naira against the euro. The Canadian dollar remained unchanged at N986/C$1.
External Reserves Rise to $54.61 Billion
Nigeria’s external reserves increased to $54.608 billion as of September 14, from $54.487 billion on September 11, according to CBN data.
The $121 million increase represents a 0.22% rise in the country’s external reserves over the period.
