Key Takeaways

• The reported official/reference dollar-to-naira rate stood at ₦1,329.8019/$1 on Monday, September 21, 2026.
• The rate was lower than the previous reported figure of ₦1,331.2027/$1.
• The parallel market closed at ₦1,389/$1 on Monday.
• The difference between the reported official/reference and parallel-market rates was about ₦59.20 per dollar.
• Actual rates offered by banks, Bureau de Change operators and other dealers may differ because of transaction margins and prevailing market conditions.

Latest Dollar to Naira Exchange Rate

The Nigerian naira was quoted at ₦1,329.8019 to the US dollar at the official foreign exchange market on Monday, September 21, 2026, according to data attributed to the Central Bank of Nigeria.

The reported figure represents a movement from the previous rate of ₦1,331.2027/$1.

Based on those two reported figures, the rate moved by about ₦1.40 per dollar between the two observations.

The latest figure provides the reference point for the dollar-to-naira exchange rate being reported for September 22.

What the Parallel Market Is Quoting

The parallel foreign exchange market recorded a higher dollar rate on Monday, with the US currency closing at ₦1,389/$1.

That was about ₦59.20 above the reported official/reference rate of ₦1,329.8019/$1.

The difference illustrates that exchange-rate quotes can vary across different segments of Nigeria’s foreign exchange market.

However, the parallel-market figure should not be treated as a substitute for the official/reference rate. The two figures represent different market segments.

Why Bank and BDC Dollar Rates May Differ

The rate available to an individual or business may not exactly match either of the reported reference figures.

Commercial banks, Bureau de Change operators and other foreign exchange dealers can quote different rates because of transaction margins, demand and supply conditions, and other market-specific factors.

As a result, anyone looking to buy or sell dollars should check the rate being offered by the particular bank, BDC or authorised dealer involved in the transaction.

What the Latest Rate Means for the FX Market

The latest movement shows a relatively small change in the reported official/reference exchange rate compared with the previous figure.

For businesses and individuals that conduct dollar-linked transactions, the exchange rate remains an important market indicator because the amount of naira required for a dollar-denominated transaction depends on the applicable rate at the time of the transaction.

The difference between the official/reference and parallel-market quotations also highlights the importance of identifying which market rate is being reported when discussing the value of the naira.

What Could Influence the Naira Next?

Market participants will continue watching foreign exchange inflows, demand for dollars and Central Bank of Nigeria policies for indications of how the naira may perform through the rest of the month.

These factors are areas to monitor rather than confirmed explanations for the latest day-to-day movement in the exchange rate.

The available report does not establish that any single one of these factors caused the Monday rate change.

What the Exchange Rate Means for Consumers and Businesses

Changes in the dollar-to-naira exchange rate can be relevant to businesses and individuals whose transactions involve foreign currency.

However, the reported movement from ₦1,331.2027 to ₦1,329.8019 per dollar is not, by itself, evidence that prices of imported goods or other dollar-linked products have changed.

Actual effects depend on the transaction, the applicable exchange rate and other costs involved.

Frequently Asked Questions

What is the dollar to naira exchange rate today?

The reported official/reference exchange rate was ₦1,329.8019 for $1 on Monday, September 21, 2026.

What was the previous dollar-to-naira rate?

The previous reported rate was ₦1,331.2027/$1.

What is the parallel-market dollar rate?

The report states that the dollar closed at ₦1,389 on the parallel market on Monday.

How much is the difference between the official and parallel-market rates?

Based on the reported figures, the difference was approximately ₦59.20 per dollar.

Why can my bank’s dollar rate be different?

Banks, BDC operators and other foreign exchange dealers may apply different transaction margins and operate under prevailing demand and supply conditions, so their quoted rates may differ from reference rates.

What could affect the naira’s next movement?

The factors identified in the report include foreign exchange inflows, demand for dollars and CBN policies.

Dollar to Naira Rate: What to Watch Next

The reported official/reference rate remains at the centre of the latest dollar-to-naira update, while the parallel market continues to quote a higher figure.

The next developments to watch are movements in foreign exchange inflows, dollar demand and CBN policies, as these will help shape the broader foreign exchange market environment.

For now, the reported rate is ₦1,329.8019/$1 at the official/reference market, compared with ₦1,389/$1 at the parallel market.