Naira Gains 22 Kobo as Dollar Falls to N1,326.30 at Official Market

The naira gained 22 kobo against the United States dollar at the official foreign exchange market on Monday, September 14, 2026, closing at N1,326.30 compared with N1,326.52 on Friday.

Data from the Central Bank of Nigeria showed the local currency started the new trading week on a positive note, though the gain was small. The naira has continued to trade around the N1,300 range at the official market.

Parallel market holds at N1,390

The official market movement did not reflect at the parallel market. At the black market, the dollar remained at N1,390 on Monday, the same rate recorded at the close of trading last week. The gap between the official and parallel market rates stood at about N63 per dollar on Monday.

The naira had also appreciated against the dollar on Friday, extending a recent trend of gains at the official market.

External reserves rise to $54.49 billion

Nigeria’s external reserves continued to improve, reaching $54.49 billion as of September 11, 2026. The rise came amid recent stability and gains recorded by the naira in the official foreign exchange market.

The foreign exchange market remains important to Nigeria’s economy because movements in the value of the naira against major international currencies affect businesses, importers, consumers and investors. A stronger naira can reduce the local currency cost of imported goods and services and ease pressure on businesses that depend on foreign exchange for their operations.

However, the exchange rate can change from one trading session to another depending on the level of demand and supply of foreign currency in the market.

What to watch this week

As trading continues this week, attention will remain on the official and parallel markets to see whether the naira can sustain its recent gains against the dollar. The currency’s performance will also be watched alongside developments in Nigeria’s external reserves and the availability of foreign exchange in the market.