The naira traded at different levels against the United States dollar on Thursday, September 17, 2026, as Nigerians continued to monitor movements in the foreign exchange market.
Latest available market data showed that the naira stood at about ₦1,330.31 to the dollar at the Nigerian Foreign Exchange Market on Thursday morning.
The figure provides the latest indication from the official foreign exchange market, where the Central Bank of Nigeria describes the NFEM rate as a volume-weighted average of eligible transactions.
Dollar to Naira Exchange Rate Today
Outside the official market, the dollar was exchanged at higher rates, with dealers quoting around ₦1,380 for buying and approximately ₦1,385 for selling, based on the latest available rates from the previous trading session.
Rates offered by individual dealers may differ depending on location, the amount being exchanged, dollar availability and demand at the time of the transaction.
| Market | Buying Rate | Selling/Reference Rate |
|---|---|---|
| Nigerian Foreign Exchange Market | — | ₦1,330.31/$ |
| Other market dealers | About ₦1,380/$ | About ₦1,385/$ |
How Much Is $100 in Naira Today?
Using the selling rate of ₦1,385 to the dollar, anyone looking to purchase $100 would need approximately ₦138,500.
At the same rate, $500 would cost about ₦692,500, while $1,000 would require approximately ₦1.385 million.
For those selling dollars to dealers at the buying rate of about ₦1,380, $100 would return approximately ₦138,000, while $1,000 would amount to about ₦1.38 million.
These calculations are estimates based on the quoted rates and may differ from what individual foreign exchange dealers offer.
Gap Between Exchange Rates
A difference remains between the latest NFEM benchmark and rates offered by dealers outside the official foreign exchange market.
Comparing the ₦1,385 selling rate with the latest NFEM figure of ₦1,330.31 gives a difference of approximately ₦54.69 for every dollar.
The buying rate of about ₦1,380 is also approximately ₦49.69 above the latest NFEM benchmark.
The difference reflects conditions across the various segments of Nigeria’s foreign exchange market, where demand, dollar supply, location and access to foreign currency can affect the rates available to buyers and sellers.
On Wednesday, the naira was reported at ₦1,329.86 per dollar at the NFEM, compared with ₦1,329.15 on Tuesday, representing a marginal depreciation of 71 kobo.
The latest Thursday indication of ₦1,330.31 also represents a slight weakening of about 45 kobo compared with Wednesday’s reported level.
Naira Trades Around ₦1,330 At NFEM
The latest available market indication placed the naira at about ₦1,330.31 to the dollar at the NFEM on Thursday morning.
Foreign exchange rates can, however, change during the trading day as dollar liquidity and demand shift.
Businesses, importers, travellers, students and other individuals seeking foreign currency may therefore encounter rates different from figures quoted earlier in the day.
As of Thursday, September 17, 2026, the latest available figures put the dollar at about ₦1,330.31 at the Nigerian Foreign Exchange Market, while other dealers quoted approximately ₦1,380 for buying and ₦1,385 for selling.
Note: Foreign exchange prices can change during the day 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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