Dollar To Naira Today, September 22, 2026: Official Rate ₦1,329.80, Parallel Market ₦1,389

The Nigerian naira is trading at different levels against the United States dollar in Nigeria's official foreign exchange market and the parallel market as of Tuesday, September 22, 2026.

The latest confirmed official-market figure shows that the naira closed at ₦1,329.80 to $1 at the Nigerian Foreign Exchange Market (NFEM) on Monday, September 21.

The figure represents a slight improvement from the previous session's ₦1,331.20 per dollar, based on reports citing Central Bank of Nigeria data.

Meanwhile, the dollar was reportedly quoted at about ₦1,389 per dollar in the parallel market on Monday, with buying rates around ₦1,381.

Official Dollar-to-Naira Rate Today

The latest confirmed NFEM closing rate available for Tuesday's reports is:

$1 = ₦1,329.80

This means:

$100 = ₦132,980
$500 = ₦664,900
$1,000 = ₦1,329,800

The NFEM rate is based on transactions in Nigeria's formal foreign exchange market and serves as the official reference rate.

Parallel Market Dollar Rate

In the parallel market, the reported September 21 average was:

$1 = ₦1,389 selling rate

The reported buying rate was approximately:

$1 = ₦1,381

Parallel-market figures can vary from one location or dealer to another and can change during the day. The September 21 figures cited by NgnRates were based on user-submitted market reports rather than confirmed quotes from every dealer.

How Much Is $1,000 In Naira?

Using the reported rates:

At the NFEM rate of ₦1,329.80:

$1,000 = ₦1,329,800

At the reported parallel-market selling rate of ₦1,389:

$1,000 = ₦1,389,000

This represents a difference of approximately ₦59,200 for every $1,000.

Difference Between Official And Parallel Rates

The difference between the reported NFEM closing rate and the parallel-market selling rate was approximately:

₦1,389 − ₦1,329.80 = ₦59.20 per dollar

For larger transactions, the difference becomes more significant.

For example:

$100: about ₦5,920 difference
$500: about ₦29,600 difference
$1,000: about ₦59,200 difference
$5,000: about ₦296,000 difference

These are calculations based on the reported reference rates and do not represent guaranteed transaction prices.

Why Are The Two Rates Different?

The official and parallel markets operate differently, so their quoted rates can diverge.

Factors affecting the naira-dollar exchange rate include:

Dollar supply and demand
Foreign exchange inflows
Import-related demand
Monetary policy
International oil prices
Foreign investment flows
Demand from businesses and travellers

Recent reporting has also pointed to continued stability in the naira, supported in part by central-bank interventions and lower import demand.

Will You Get Exactly ₦1,329.80 At Your Bank?

Not necessarily.

The NFEM figure is an official reference rate and should not automatically be interpreted as the exact rate every customer will receive for every foreign-exchange transaction.

Banks, licensed Bureau de Change operators and other authorised dealers may quote different customer rates depending on the transaction, applicable charges, market conditions and other factors.

The same applies to parallel-market rates, which can change throughout the day.

What Nigerians Should Know

Anyone buying or selling foreign currency should check the rate applicable to their particular transaction before making payment.

A rate reported online in the morning may not be the same rate available later in the day.

Customers should also distinguish between the buying rate and selling rate.

The selling rate is generally the rate used when a dealer sells dollars to a customer, while the buying rate is what the dealer offers when purchasing dollars from the customer.