Dollar to Naira Exchange Rate Today September 7, 2026
The Nigerian naira traded at ₦1,420 per US dollar in the official foreign exchange window on Monday, September 7, 2026, while parallel market dealers quoted rates around ₦1,480 to the greenback.
Financial market data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) indicated a slight gain for the local currency compared to previous trading sessions, driven by improved clearing of foreign exchange backlogs and steady crude oil export revenue.
In the parallel market, informal traders in Lagos and Abuja bought dollars at ₦1,480 and sold at ₦1,490, maintaining a modest spread between official and unofficial rates, Ejes Gist News has learned, as retail demand for foreign currency stabilised ahead of the third-quarter corporate settlement cycle.
Official and Parallel Market FX Rates
USD/NGN buying and selling rates by market window are listed below.
| Market Window | Buying Rate (USD/NGN) | Selling Rate (USD/NGN) |
|---|---|---|
| Official (NAFEM) | ₦1,425.50 | ₦1,430.00 |
| Parallel Market (BDC) | ₦1,480.00 | ₦1,490.00 |
| CBN Official Benchmark | ₦1,320.00 | ₦1,322.00 |
Exchange rate volatility has moderated following sustained policy measures by the Central Bank of Nigeria (CBN), including regular liquidity allocations to licensed Bureau De Change operators and elevated interest rates designed to attract foreign capital inflows.
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Drivers of Foreign Exchange Liquidity
Commercial banks reported consistent dollar supply during morning trading, supported by remittance inflows from the diaspora and increased international investor participation in domestic fixed-income instruments.
Crude oil production output remained crucial for foreign reserve accumulation, with Nigeria’s gross external reserves providing the central bank buffer capacity against external market shocks.
Importers and corporate treasurers continue to monitor central bank policy signals closely, evaluating seasonal demand shifts for foreign tuition payments and international commercial import orders.