The Nigerian naira ended the week weaker against the United States dollar, with the latest official market rate at ₦1,331/$ and the parallel-market rate around ₦1,375/$, widening the gap between the two markets to about ₦44 per dollar.
Data from the Central Bank of Nigeria (CBN), as reported on Friday, September 18, 2026, showed the naira’s latest official-market closing rate at ₦1,331/$, compared with ₦1,329.56/$ on Wednesday, September 16. The ₦1.44 movement represents a 0.11% depreciation.
The CBN’s published data show that the ₦1,331 official closing rate was recorded on Thursday, September 17, rather than in a separate Friday trading session. Friday reports therefore used the latest available official rate for the week.
In the parallel market, the dollar was quoted at about ₦1,375 on Friday, September 18, compared with ₦1,370 on Wednesday, according to Vanguard. This left the parallel-market dollar about ₦44 above the latest official rate, representing a gap of roughly 3.3%.
The parallel market does not have one fixed nationwide rate, as quotations can vary by location, dealer, transaction size and available dollar supply. Reuters reported on Thursday, September 17, that the naira was changing hands at about ₦1,390 to the dollar in street trading, while LSEG data put the official rate at about ₦1,328/$ that day.
At the reported ₦1,375 parallel-market rate, a buyer seeking $100 would need about ₦137,500, while $1,000 would cost approximately ₦1.375 million. The difference between the official and parallel quotations remains important for businesses and individuals who depend on foreign currency for imports, international payments, tuition, travel and other dollar-linked transactions.
The latest movement came as Nigeria’s external reserves remained above $54 billion. Arbiterz, citing CBN data, reported that reserves stood at $54.669 billion as of September 16, 2026. The reserve position provides an important buffer as the authorities manage foreign-exchange liquidity and dollar demand.
The naira also faced an external monetary-policy development during the week. On September 16, 2026, the US Federal Reserve raised its federal funds target range by 25 basis points to 3.75%–4%, saying inflation remained elevated. The decision took effect on September 17.
The higher US interest-rate environment can affect emerging-market currencies by influencing the relative attractiveness of dollar-denominated assets, although the Friday movement in the naira cannot be attributed to the Fed decision alone.
Reuters reported on September 17 that traders expected the naira to remain broadly stable, citing CBN dollar sales and relatively subdued foreign-exchange demand. The report said dollar sales by the CBN were helping to meet short-term demand, while import demand remained relatively subdued in mid-September compared with the usual fourth-quarter seasonal increase.
For now, the latest figures show a relatively modest official-market weakening but a continued premium for dollars in the parallel market. The ₦44 difference between the two rates leaves dollar availability, market demand and CBN intervention among the key factors to watch as trading resumes in the new week.
