The dollar-to-naira exchange rate opened the new trading week on Monday, September 28, 2026, with attention focused on developments in the Nigerian Foreign Exchange Market (NFEM) and the parallel market.
Latest indicative data available in the early hours of Monday put the official exchange rate at about ₦1,327.16 per dollar.
The parallel market rate for Monday had yet to be independently confirmed as of the time of reporting.
The Central Bank of Nigeria (CBN) determines the official NFEM rate based on the volume-weighted average of transactions conducted in the market, while the closing rate reflects trading activities for the day.
In the parallel market, the dollar was last quoted at about ₦1,385 on Friday, September 25, according to BusinessDay, which reported that the rate remained relatively stable during the week.
However, the parallel market rate on Monday could differ from Friday’s figure, depending on dollar supply, demand and the rates offered by individual Bureau de Change operators.
The naira ended the previous trading week broadly stable in both the official and parallel markets, amid improved external reserves.
Market participants are expected to continue monitoring developments in the foreign exchange market as trading progresses, with the official NFEM closing rate and parallel market quotations subject to change during the day.