The naira traded at different levels against the United States dollar on Monday, September 21, 2026, as Nigerians continued to track movements in the foreign exchange market.
Latest available data from the Nigerian Foreign Exchange Market (NFEM) placed the naira at about ₦1,331.20 to the dollar, based on the most recent confirmed official-market rate from Friday, September 18.
The figure represents a marginal appreciation from the previous rate of ₦1,331.28 per dollar, with the Nigerian currency gaining about eight kobo against the dollar.
Early market indications on Monday also placed a live USD/NGN benchmark at around ₦1,330.65 to the dollar, keeping the naira close to the ₦1,330 level.
Dollar to Naira Exchange Rate Today
Outside the official foreign exchange market, the dollar was quoted at about ₦1,395 on Monday, according to market reports.
Rates available to individual buyers and sellers may differ depending on location, transaction size, dollar availability and demand at the time of exchange.
| Market | Buying Rate | Selling/Reference Rate |
|---|---|---|
| Nigerian Foreign Exchange Market | — | About ₦1,331.20/$ |
| Other market dealers | — | About ₦1,395/$ |
How Much Is $100 in Naira Today?
Using the reported rate of about ₦1,395 to the dollar, anyone looking to purchase $100 would need approximately ₦139,500.
At the same rate, $500 would cost about ₦697,500, while $1,000 would require approximately ₦1.395 million.
A purchase of $2,000 at the same quoted rate would amount to approximately ₦2.79 million.
These calculations are estimates based on the reported exchange rate and may differ from what individual foreign exchange dealers offer at the time of a transaction.
Gap Between Exchange Rates
A difference remains between the latest Nigerian Foreign Exchange Market rate and the quotation available from other currency dealers.
Comparing the reported ₦1,395 rate with the latest NFEM figure of ₦1,331.20 gives a difference of approximately ₦63.80 for every dollar.
This means the dollar was quoted about ₦63.80 higher outside the official foreign exchange market than the latest confirmed NFEM benchmark.
The difference reflects varying conditions across segments of Nigeria’s foreign exchange market, where dollar supply, demand, location and transaction size can affect the rates available to buyers and sellers.
The latest official-market figure showed a slight improvement from ₦1,331.28 per dollar to ₦1,331.20, indicating limited movement in the value of the naira.
Recent data have also shown the Nigerian currency trading within a relatively narrow range in the official foreign exchange market.
Meanwhile, Nigeria’s external reserves stood at $54.61 billion as of September 14, according to Central Bank of Nigeria data cited by BusinessDay.
The figure represented an 18-year high and an increase of 30.52 per cent compared with the corresponding period in 2025.
Market participants continue to monitor dollar liquidity, foreign exchange demand, external reserves and developments in the official market for indications of the naira’s direction.
Naira Trades Around ₦1,331 At NFEM
The latest confirmed NFEM data placed the naira at approximately ₦1,331.20 to the dollar, while an early Monday USD/NGN benchmark stood at about ₦1,330.65.
Foreign exchange rates can, however, change during the trading session as demand and dollar liquidity fluctuate.
Businesses, importers, travellers, students and other individuals seeking foreign currency may therefore encounter rates different from figures quoted earlier in the day.
As of Monday, September 21, 2026, the latest available figures put the naira at about ₦1,331.20 per dollar at the Nigerian Foreign Exchange Market, while other currency dealers quoted approximately ₦1,395 per dollar.
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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