The dollar traded at about ₦1,410 in the parallel market on Tuesday, September 15, 2026, as Nigerians continued to monitor the naira’s performance against the United States currency.
Key Highlights
- Official NFEM rate: ₦1,326.30/$1 as of September 14, 2026.
- Parallel-market buying rate: about ₦1,385/$1.
- Parallel-market selling rate: about ₦1,410/$1.
- $100: ₦141,000 at the parallel-market selling rate.
- $500: ₦705,000.
- $1,000: ₦1.41 million.
- Parallel-market rates may vary by location, dealer and transaction size.
According to the latest figures from the Central Bank of Nigeria, the naira closed at ₦1,326.3014 per dollar at the Nigerian Foreign Exchange Market (NFEM) on Monday, September 14.
The NFEM rate is based on the volume-weighted average of transactions conducted in Nigeria’s official foreign exchange market.
At the latest official rate, $100 is equivalent to approximately ₦132,630, while $500 is worth about ₦663,150. Similarly, $1,000 would cost approximately ₦1.326 million at the official NFEM rate.
However, market trackers quoted the dollar at approximately ₦1,385 for buying and ₦1,410 for selling in the parallel market as of Tuesday morning.
This means that Nigerians buying $1,000 at the parallel-market selling rate would require about ₦83,700 more than at the latest official NFEM rate.
For smaller transactions, $100 would cost about ₦141,000 at the parallel-market selling rate, compared with approximately ₦132,630 at the official rate. Meanwhile, $500 would require about ₦705,000 in the parallel market, compared with ₦663,150 at the official rate.
Read also:
- Naira Trades Weaker At N1,390 To The Dollar At Parallel Market
- Naira to Dollar Exchange Rate Today: ₦1,390 Black Market Rate Sparks Fresh Concern
- Naira Under Pressure As Dollar Sells For ₦1,410 At Parallel Market
Why Dollar Rates Differ
Parallel-market exchange rates are not fixed and may vary from one location or dealer to another. Dollar availability, transaction size, demand and prevailing market conditions can influence the rate offered to buyers and sellers.
The gap between official and parallel-market rates also reflects differences in dollar supply and access to foreign exchange across Nigeria’s forex market.
For Nigerians planning international travel, school-fee payments, medical expenses, online transactions and other dollar-denominated payments, changes in the exchange rate can significantly affect the naira amount required.
Exchange rates may also change during the day as foreign exchange liquidity, demand and market activity fluctuate.
As of Tuesday, September 15, 2026, the latest available figures put the dollar at approximately ₦1,326.30 at the official NFEM window, while the parallel-market rate stood at about ₦1,385–₦1,410 per dollar.
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