The naira weakened marginally against the US dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM), closing at N1,329.56/$ on Wednesday, September 16, 2026, compared with N1,329.50/$ recorded on September 15.
The N0.06 movement represents a 0.005% depreciation of the naira at the official foreign exchange market.
In the parallel market, the dollar remained unchanged at N1,375/$ on September 17, according to Bureau de Change operators.
The parallel-market rate was therefore N45.44 above the latest NAFEM rate, representing a gap of about 3.4% between the two markets.
Pound, Euro and Canadian Dollar Rates
The British pound strengthened against the naira in the parallel market, with the exchange rate falling to N1,840/£1 from N1,847/£1 previously.
The N7 decline in the naira cost of the pound represents a 0.38% appreciation of the naira against sterling.
The euro also declined to N1,573/€1 from N1,575/€1, meaning the naira appreciated by N2, or 0.13%, against the European currency.
The Canadian dollar similarly fell to N980/C$1 from N986/C$1. The N6 decline represents a 0.61% appreciation of the naira against the Canadian dollar.
External Reserves Rise to $54.608 billion
Nigeria’s external reserves increased to $54.608 billion as of September 14, 2026, from $54.487 billion on September 11, according to data from the Central Bank of Nigeria (CBN).
The $121 million increase represents a 0.22% rise in the country’s reserves over the period.
