Naira to Dollar exchange rate today, Tuesday, September 1, 2026
The Nigerian naira opened September 2026 at about ₦1,332.44 per dollar at the official foreign exchange market, while the US currency traded as high as ₦1,405 in the parallel market.
The difference in exchange rates highlights the continued gap between Nigeria’s official currency market and the street trading segment, despite recent improvements in the naira’s performance.
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Official market maintains naira gains
Latest available data from the Nigerian Foreign Exchange Market (NFEM) showed the naira exchanging at ₦1,332.44 per dollar on August 31.
The NFEM rate, recognised by the Central Bank of Nigeria as the official exchange rate, is determined using the volume-weighted average of transactions conducted during the trading session.
The local currency has recorded relative stability in recent sessions, supported by improved foreign exchange liquidity and stronger external buffers.
Earlier market data showed the naira appreciating to ₦1,338.59 per dollar, while activity at the official market recorded a significant rise.
Parallel market tells a different story
Away from the official window, the dollar continued to trade at considerably higher rates among parallel-market dealers.
NgnRates quoted the dollar at ₦1,390 for buying and ₦1,405 for selling, while other market monitors placed the rate between ₦1,400 and ₦1,415.
The disparity means Nigerians sourcing dollars outside the official market may pay roughly ₦60 to ₦80 more per dollar.
FX market records stronger turnover
Trading activity at the official foreign exchange market also improved in the latest reported session.
Data cited by AbokiFX showed that total turnover increased by 16.43 per cent to $1.06 billion, compared with $913.76 million previously recorded.
Despite the increase in the value of transactions, the number of deals completed during the session declined.
The stronger turnover reflects increased dollar liquidity, which analysts believe has helped support the naira at the official market.
What Nigerians should expect
Exchange rates may differ depending on the location, transaction size and the channel used to buy or sell foreign currency.
Banks, Bureau de Change operators and parallel-market traders may also offer varying rates based on prevailing demand and available dollar supply.
As of September 1, available figures place the official exchange rate between ₦1,332 and ₦1,338 per dollar.
Meanwhile, parallel-market rates remain within the ₦1,390 to ₦1,415 range, with movements expected as trading conditions change during the day.