The naira weakened against the US dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM), closing at N1,331.00/$ on Thursday, September 17, 2026, compared with N1,329.56/$ recorded on September 16.
The N1.44 movement represents a 0.11% depreciation of the naira at the official foreign exchange market, according to Central Bank of Nigeria (CBN) data.
In the parallel market, the dollar remained unchanged at N1,375/$ on September 18, according to Bureau de Change operators. The parallel-market rate was therefore N44 above the latest NAFEM rate, representing a gap of about 3.3% between the two markets.
Pound, Euro and Canadian Dollar Rates
The British pound weakened against the naira in the parallel market, with the exchange rate falling to N1,835/£1 from N1,840/£1 previously. The N5 decline represents a 0.27% appreciation of the naira against sterling.
The euro strengthened against the naira, rising to N1,576/€1 from N1,573/€1. The N3 movement represents a 0.19% depreciation of the naira against the European currency. The Canadian dollar remained unchanged at N980/C$1.
External Reserves Rise to $54.669 Billion
Nigeria’s external reserves increased to $54.669 billion as of September 16, 2026, from $54.608 billion on September 14, according to data from the Central Bank of Nigeria (CBN). The $61 million increase represents a 0.11% rise in the country’s reserves over the period.
