The naira traded at different levels against the United States dollar on Wednesday, September 16, 2026, as Nigerians continued to monitor movements in the foreign exchange market.
Latest available data from the Central Bank of Nigeria showed that the naira stood at ₦1,329.15 to the dollar at the Nigerian Foreign Exchange Market on Tuesday, September 15.
The figure represents the volume-weighted average of transactions carried out in the official foreign exchange market and provides the latest benchmark heading into Wednesday’s trading.
Dollar to Naira Exchange Rate Today
Outside the official market, the dollar was exchanged at higher rates on Wednesday, with dealers quoting around ₦1,380 for buying and approximately ₦1,385 for selling.
The rates offered by individual dealers may differ depending on location, the amount being exchanged, availability of dollars and demand at the time of the transaction.
Market| Buying Rate| Selling/Reference Rate
Nigerian Foreign Exchange Market| —| ₦1,329.15/$
Other market dealers| About ₦1,380/$| About ₦1,385/$
How Much Is $100 in Naira Today?
Using the higher selling rate of ₦1,385 to the dollar, a Nigerian looking to purchase $100 would need approximately ₦138,500.
At the same rate, $500 would cost about ₦692,500, while anyone purchasing $1,000 would require roughly ₦1.385 million.
These calculations are estimates based on the quoted selling rate and may not represent the exact amount offered by every foreign exchange dealer.
Gap Between Exchange Rates
A difference remains between the latest official benchmark and rates available outside the official foreign exchange window.
Comparing the ₦1,385 selling rate with the latest official figure of ₦1,329.15 shows a difference of approximately ₦55.85 for every dollar.
The buying rate of about ₦1,380 is also ₦50.85 higher than the latest NFEM benchmark.
The variation reflects conditions across the different segments of Nigeria’s foreign exchange market, where dollar availability, demand and access to foreign currency can influence the price buyers eventually pay.
Naira Trades Around Latest Official Level
The latest available CBN data placed the naira at ₦1,329.15 to the dollar at the official foreign exchange market as of September 15.
However, foreign exchange rates can move during the trading day as demand and dollar liquidity change.
Businesses, travellers, importers and individuals seeking foreign currency may therefore encounter rates that differ from figures quoted earlier in the day.
For Wednesday, September 16, the latest available figures put the dollar at approximately ₦1,329.15 at the official foreign exchange market, while rates from other dealers were around ₦1,380 for buying and ₦1,385 for selling.
Note: Foreign exchange prices change from time to time and may vary according to market conditions, location, transaction size, dollar availability and individual dealers. The figures above are indicative rates based on information available at the time of publication and should not be treated as fixed prices.
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