The dollar to naira exchange rate today, September 29, 2026, opened with the naira trading at ₦1,321.44 per dollar at the Nigerian Foreign Exchange Market, while the greenback sold for as much as ₦1,385 in the parallel market.
The latest figures show a significant gap between the official and parallel foreign exchange markets, with the difference between the NFEM rate and the parallel-market selling rate standing at ₦63.56 per dollar.
According to market quotations, the dollar was bought at about ₦1,375 and sold at ₦1,385 in the parallel market on Tuesday.
At the official market, the reported NFEM rate stood at approximately ₦1,321.44 per dollar.
The figures indicate that Nigerians sourcing dollars from the parallel market would pay considerably more than those able to access foreign exchange at the official market.
For instance, $100 would cost about ₦132,144 at the NFEM rate, compared with ₦138,500 at the parallel-market selling rate.
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For $500, the cost would be approximately ₦660,720 at the official rate and ₦692,500 in the parallel market.
Similarly, $1,000 would cost about ₦1.321 million at the NFEM rate, compared with ₦1.385 million at the parallel-market rate.
The difference reflects the continuing divergence between Nigeria’s formal foreign exchange market and the parallel market, where rates are influenced by demand, supply and access to foreign currency.
Market participants are monitoring foreign exchange liquidity, dollar supply, external reserves and inflows as the third quarter of 2026 approaches its end.
The naira-dollar exchange rate remains particularly important for importers, manufacturers, businesses with foreign-currency obligations and Nigerians paying for internationally priced goods and services.
A stronger official rate does not necessarily translate into cheaper dollars for every consumer, as access to the NFEM market is different from that of the parallel market.
The latest figures also come after several movements in the exchange rate throughout September, with the official market remaining around the ₦1,320–₦1,330 range in recent trading sessions, while parallel-market quotations have continued to carry a premium.
As trading progresses on Tuesday, market participants will be watching whether the naira maintains its position at the official market and whether the gap between the NFEM and parallel-market rates narrows or widens.
For now, the Dollar to Naira exchange rate today, September 29, 2026, stands at ₦1,321.44/$ at the NFEM, while the parallel market quotes the dollar at ₦1,375 buying and ₦1,385 selling.
