The naira strengthened further against the United States dollar in the official foreign exchange market on Thursday, trading at about N1,329 per dollar.
Data from the Nigerian Foreign Exchange Market showed the official exchange rate at approximately N1,329.12 to the dollar as of September 3, 2026.
The rate represents the prevailing official benchmark, while the parallel market continued to trade at a significantly higher level.
The latest movement follows Wednesday’s reported close of N1,326.69 per dollar, described as a two-year high for the naira.
The naira’s recent performance has been linked to improved dollar liquidity, stronger external reserves and increased formal remittance inflows.
However, the parallel market continued to record higher dollar rates.
Aboki Forex quoted the dollar at N1,395 on Thursday, while another market tracker, TalentBase, reported a buying rate of around N1,400 and a selling rate of N1,410 in some locations.
Based on the N1,329.12 official rate, the difference between the official market and the N1,395 parallel-market rate is about N66 per dollar, while the gap with the N1,410 selling rate is about N81.
The naira reportedly appreciated by 1.5 per cent on the NFEM in August, while movement in the parallel market was significantly lower.
Nigeria’s external reserves also improved, reaching about $53.51 billion in August, while formal remittance inflows through international money transfer operators rose to a record $947 million in July.
Dollar-to-naira conversion today
At the official NFEM rate of N1,329.12 per dollar:
– $1 = N1,329.12
– $10 = N13,291.20
– $50 = N66,456
– $100 = N132,912
– $500 = N664,560
– $1,000 = N1,329,120
At the reported parallel-market rate of N1,395 per dollar:
$100 = N139,500
Exchange rates, particularly in the parallel market, can change throughout the day. Buyers and sellers are therefore advised to confirm the prevailing rate before completing transactions.