The Nigerian naira opened the new trading week relatively steady on Monday, 7 September 2026, with the latest available official-market rate putting the dollar at about ₦1,321.68, while the parallel market quoted the dollar at ₦1,390 for buying and ₦1,400 for selling.
The ₦1,321.68/$ figure was reported as the latest indicative Nigerian Foreign Exchange Market (NFEM) rate by financial news outlets including Vanguard and Techeconomy. However, the Central Bank of Nigeria’s (CBN) published NFEM table lists ₦1,321.2160/$ for Friday, 4 September, as its latest dated trading entry. The Monday figure should therefore be treated as an indicative rate rather than a confirmed CBN closing rate.
In the parallel market, Aboki Forex quoted the dollar at ₦1,390 for buying and ₦1,400 for selling on Monday, 7 September, according to reports published by Vanguard and other Nigerian financial news outlets.
At the quoted selling rate of ₦1,400, the difference from the indicative official rate of ₦1,321.68 is about ₦78.32 per dollar.
Actual parallel-market rates can vary depending on the dealer, location and transaction size.
The naira’s relative stability comes as Nigeria’s external reserves remain above $54 billion.
CBN reserve data showed gross external reserves at $54.0839 billion on 3 September 2026, up from about $53.99 billion on 2 September and $53.90 billion on 1 September.
The latest reserve level represents an increase of roughly $8.5 billion from the beginning of 2026, based on CBN figures.
The stronger reserve position provides a larger foreign-exchange buffer, although the naira’s movement will continue to depend on dollar supply and demand, foreign-exchange liquidity and broader market conditions.
The latest stability follows a stronger performance by the naira last week. Nairametrics reported that the currency closed the week around ₦1,322.50/$ on Friday, 4 September, compared with ₦1,335.50 at the start of the week.
For now, the key question is whether the naira can maintain its recent gains as trading continues this week.
