The Nigerian naira opened the new trading week on a positive note, appreciating slightly against the United States dollar at the official foreign exchange market on Monday, September 7, 2026.
The naira strengthened to ₦1,320.56 per dollar, gaining 66 kobo, or about 0.05 per cent, from the previous trading session’s rate of ₦1,321.22/$, according to market data.
The modest appreciation marks a positive start for the local currency after it recorded a slight decline at the end of the previous week. The movement will be closely watched by businesses, importers, travellers and Nigerians who depend on foreign exchange for international transactions.
In the parallel market, however, the dollar remained considerably higher. Available market data placed the buying rate at about ₦1,390/$, while the selling rate stood around ₦1,400/$. This created a notable gap between the official and parallel markets.
The difference between the two markets remains important for consumers and businesses because exchange-rate movements can influence the cost of imported goods, overseas payments, travel expenses and production inputs.
The latest naira performance also continues a broader trend of relative strengthening recorded in recent weeks. Historical data showed the dollar trading above ₦1,330 at the beginning of September, before moving closer to the ₦1,320 level.
The development comes amid continued efforts by Nigerian authorities to improve foreign-exchange liquidity and stabilise the naira. Market participants will be watching whether the currency can sustain its recent gains in subsequent trading sessions.
For Nigerians seeking to buy or sell dollars, actual rates may vary depending on the bank, Bureau de Change operator, location and transaction size. Therefore, customers are advised to confirm prevailing rates before completing transactions.
The naira-dollar exchange rate remains a major economic indicator in Nigeria because of the country’s dependence on imported goods and its significant oil-export revenues. Sustained currency stability could help businesses plan more effectively and reduce uncertainty around import costs.
