The naira opened Thursday, September 10, 2026, on a relatively stronger note in the Nigerian Foreign Exchange Market, NFEM, although it continued to trade at a weaker level in the parallel market.
Available market data put the official exchange rate at about ₦1,322.72 to the US dollar. The same rate was recorded on September 9, with historical data also showing ₦1,322.72 for September 10.
In the parallel market, the dollar was trading between ₦1,380 and ₦1,390, depending on whether the transaction involved buying or selling. One market tracker recorded a buying rate of ₦1,380 and a selling rate of ₦1,390 early Thursday.
Another tracker also placed the dollar at around ₦1,390, although parallel market rates often differ from one location or dealer to another.
At a selling rate of ₦1,390, the gap between the parallel market and the official NFEM rate of ₦1,322.72 stands at about ₦67.28 per dollar.
The naira has shown some recent strength in the official market. Reports citing Central Bank of Nigeria data indicated that the currency traded around ₦1,320 per dollar on September 8, following further gains at the official window.
Despite the movement in the official market, the parallel market remained above the NFEM rate as of Thursday, highlighting the continued difference between regulated foreign exchange transactions and informal market pricing.
Exchange rates can change throughout the day as dollar supply, demand, trading activity and Central Bank interventions affect the market. For this reason, parallel market figures should be regarded as indicative rather than fixed rates.
Nigerians seeking dollars for travel, school fees, imports, business transactions and other legitimate needs may also receive different rates from banks and licensed Bureau de Change operators. The actual amount offered may therefore differ from both the official NFEM rate and the prevailing parallel market price.
