The Nigerian naira weakened slightly against the United States dollar at the official foreign exchange market on Friday, September 25, 2026, as the currency ended the trading week lower on a day-to-day basis.
Data linked to the Central Bank of Nigeria (CBN) showed the dollar closing at about ₦1,329.51 at the official market, compared with ₦1,328.67 recorded on Thursday.
This represented a marginal movement of about ₦0.84 per dollar compared with the previous day's rate.
Dollar-to-Naira Rate at the Parallel Market
The naira also recorded weakness at the parallel market on Friday.
Reports placed the dollar at around ₦1,390 at the parallel market, compared with about ₦1,385 on Thursday.
This represented a movement of approximately ₦5 per dollar in one day.
Parallel-market rates can vary depending on location, dealer and the prevailing demand and supply of foreign currency, so the rate available to individuals or businesses may differ from reported market figures.
Naira Still Recorded A Weekly Gain
Despite Friday's decline, the naira recorded a small improvement on a week-on-week basis at the official market.
The currency was about ₦1.68 stronger per dollar compared with the previous week's official rate, according to the figures reported for the period.
The broader official market also remained relatively stable during the week. Recent market data showed the naira trading around the ₦1,330-per-dollar level, with official-market movements remaining relatively narrow.
Nigeria's External Reserves Rise
The latest exchange-rate movement came as Nigeria's external reserves continued to strengthen.
CBN-linked data put the country's external reserves at approximately $54.86 billion as of September 24, 2026.
External reserves represent foreign-currency assets held by a country's monetary authorities. They are important for foreign-exchange liquidity and can support the country's ability to meet international payment obligations.
The improvement in reserves has therefore remained one of the developments being watched by participants in Nigeria's foreign exchange market.
What the Dollar Rate Means for Nigerians
Movements in the naira-dollar exchange rate can have implications for businesses and consumers.
Companies that depend on imported goods, equipment or raw materials may be affected when the naira weakens because they need more naira to purchase the same amount of foreign currency.
Consumers can also feel the impact when imported products or locally produced goods that depend on imported inputs become more expensive.
The exchange rate is therefore closely watched by importers, manufacturers, businesses, investors and households.
Official Rate And Parallel Market Rate
The official foreign exchange market and the parallel market can record different rates.
The official rate is the reference rate from Nigeria's formal foreign exchange market, while the parallel-market rate reflects transactions outside the official market.
As a result, Nigerians looking to buy or sell dollars should not assume that a published market rate will necessarily be the exact rate offered by a particular bank, Bureau de Change operator or other dealer.
What Happened To The Naira On Friday?
The latest figures show a mixed picture:
Official market: Dollar around ₦1,329.51
Previous official rate: About ₦1,328.67
Daily movement: Naira weakened by about ₦0.84
Parallel market: Dollar around ₦1,390
Previous parallel rate: About ₦1,385
Weekly official-market position: Naira recorded a small gain
External reserves: About $54.86 billion as of September 24, 2026
Meanwhile, the CBN's Monetary Policy Committee reduced the Monetary Policy Rate to 23 per cent at its September 21–22, 2026 meeting, another development being monitored in the country's financial markets.
Market participants will continue to monitor foreign-exchange liquidity, dollar demand, external reserves, monetary policy and other factors that could influence the naira's movement in the coming trading sessions.
0 Comments