The dollar to naira exchange rate remains a key focus for Nigerians as the local currency continues to trade at different levels in the official and parallel foreign exchange markets.
The latest available market data puts the official Nigerian Foreign Exchange Market (NFEM) rate at about ₦1,321.68 per US dollar. The parallel market, meanwhile, is quoting the dollar at approximately ₦1,395 to buy and ₦1,405 to sell, according to the latest available market tracker figures.
This means that $100 is worth approximately ₦132,168 at the official rate, while purchasing $100 in the parallel market at the quoted selling rate would cost about ₦140,500.
Parallel market exchange rate
In the parallel market, the dollar is quoted at approximately ₦1,395 on the buying side and ₦1,405 on the selling side. This means Bureau De Change operators would pay about ₦1,395 for every dollar sold to them, while customers buying dollars would pay around ₦1,405 per dollar.
At the selling rate, $1,000 would cost approximately ₦1.405 million.
What is driving the exchange rate?
The naira’s recent performance has been influenced by developments in the foreign exchange market, including dollar liquidity and external reserves. Earlier reports showed the currency strengthening to around ₦1,315 per dollar in the official market, its strongest performance in about two years at the time.
However, parallel-market rates can vary by location, transaction size and individual dealer. Nigerians buying or selling dollars should therefore confirm the prevailing rate before completing a transaction.
The post Dollar to Naira Exchange Rate Today, September 8, 2026 appeared first on Vanguard News.