Dollar to Naira Exchange Rate Today, September 2, 2026

The Nigerian naira traded at ₦1,329.43 per U.S. dollar in the official foreign exchange market on Wednesday, September 2, while parallel-market dealers quoted the dollar at around ₦1,400–₦1,410, according to market data, as reported by Tech Economy.

The latest official rate, based on the Nigerian Foreign Exchange Market (NFEM), was derived from the Central Bank of Nigeria’s volume-weighted market data for September 1. The naira closed at about ₦1,329 per dollar.

At the official rate, $100 was equivalent to approximately ₦132,943, while $1,000 was worth about ₦1.329 million.

Parallel market remains above official rate

The parallel market continued to trade at a premium to the official NFEM rate.

Market data published on September 2 indicated a buying rate of approximately ₦1,400 per dollar and a selling rate of ₦1,405, while another market tracker quoted the dollar at around ₦1,410.

The resulting gap between the official and parallel-market rates was roughly ₦70–₦81 per dollar, depending on the parallel-market quotation used.

The spread highlights the different pricing dynamics across Nigeria’s formal and informal foreign-exchange markets, with parallel-market rates typically influenced by immediate local demand, available dollar supply and dealer-specific conditions.

Naira maintains recent gains

The latest official rate comes after the naira strengthened during August.

NFEM data showed the currency closing August at around ₦1,332.44 per dollar, before strengthening further to approximately ₦1,329.43 based on the latest available September 1 data.

The naira’s recent performance has coincided with increased foreign-exchange market activity and improving external liquidity conditions.

Nigeria’s official FX market recorded $14.45 billion in turnover during the available 19 trading days of August, up 13.8% from $12.69 billion in July. Average daily turnover also increased to about $760.43 million from $551.77 million in July.

The increased market activity suggests stronger liquidity and participation in the official FX market, although the continued premium in the parallel market indicates that pricing differences remain.

What the rates mean for businesses and consumers

For businesses with dollar-denominated obligations, importers and Nigerians sending or receiving foreign currency, the difference between the official and parallel rates remains significant.

A company converting $100,000 at the NFEM rate of ₦1,329.43 would receive approximately ₦132.94 million, compared with about ₦140.5 million at a ₦1,405 parallel-market rate.

Actual exchange rates available to individuals and businesses can differ depending on the bank, Bureau de Change operator, transaction size, liquidity and prevailing market conditions.

The Central Bank of Nigeria does not recognise the parallel market as an official foreign-exchange pricing channel, making the NFEM rate the appropriate benchmark for formal transactions.

As of September 2, the latest available data therefore put the official dollar-naira rate at approximately ₦1,329/$, while parallel-market quotations remained around ₦1,400–₦1,410/$.