The naira opened the new trading week on Monday, September 28, with attention focused on its movement against the United States dollar across Nigeria’s foreign exchange markets.
Latest available indicative data placed the dollar at approximately ₦1,327.16 in the Nigerian Foreign Exchange Market (NFEM) during early trading on Monday.
The NFEM serves as the benchmark for transactions conducted in Nigeria’s official foreign exchange market. The Central Bank of Nigeria (CBN) determines the rate using a volume-weighted average of eligible transactions completed in the market.
Dollar to Naira Exchange Rate Today, Monday, September 28, 2026
An updated rate from currency dealers outside the official market had yet to be independently confirmed for Monday at the time of reporting.
The most recent available quotation placed the dollar at approximately ₦1,385 on Friday, September 25, with the exchange rate remaining relatively stable during the previous trading week.
Rates available to customers on Monday may differ from Friday’s level depending on dollar supply, demand, location, transaction size and individual dealers.
Market| Buying Rate| Selling/Reference Rate
Nigerian Foreign Exchange Market| —| About ₦1,327.16/$
Other market dealers| —| Latest confirmed: About ₦1,385/$
How Much Is $100 in Naira Today?
Using the latest confirmed rate of approximately ₦1,385 per dollar outside the official market, $100 would amount to about ₦138,500.
At the same rate, $500 would be approximately ₦692,500, while $1,000 would amount to about ₦1.385 million.
A person exchanging $2,000 at the same rate would receive or require approximately ₦2.77 million.
These calculations are estimates based on the latest confirmed quotation and should not be treated as Monday’s final rate. Actual prices may vary among dealers.
Gap Between Exchange Rates
Comparing the early Monday NFEM indication of ₦1,327.16 with the latest confirmed outside-market quotation of ₦1,385 gives a difference of about ₦57.84 per dollar.
The comparison involves rates from different trading days because an independently confirmed outside-market quotation for Monday was not yet available.
Naira Begins New Week Against Dollar
The Nigerian currency ended the previous trading week broadly stable across the official and other segments of the foreign exchange market.
Attention will now turn to Monday’s trading as businesses, importers, travellers and other market participants monitor dollar supply and demand.
The official NFEM closing rate may also differ from the early indication as transactions continue throughout the session.
Updated quotations from other currency dealers could equally emerge during the day, depending on prevailing foreign exchange conditions.
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