The Nigerian naira has appreciated against the United States dollar at the official foreign exchange market. On Friday, September 21, 2026, the naira traded at N1,329.8019 at the Central Bank of Nigeria's official FX window. This represents a gain for the naira, which had traded at N1,331.2027 on September 18, 2026. The data was shared on the CBN's official platform.
The naira's appreciation is reflected in its closing rate at the Nigerian Foreign Exchange Market. On Friday, the naira closed at N1,331.2500 per dollar. This is a slight gain of at least N1.40 from its trading activities on Friday. The CBN's official platform provides a transparent and reliable source of information on the naira's performance.
In contrast, the parallel market, also known as the black market, has seen a decrease in its buying and selling rates. According to Aboki FX, the Naira-to-dollar exchange rate at the black market on Friday was N1,380 and N1,386 per dollar for buying and selling rates, respectively. This represents a decrease of N5 in the buying rate and N4 in the selling rate compared to the previous trading rate on September 18, 2026.
The naira's performance at the official FX market is significant, as it reflects the country's efforts to stabilize its currency. The CBN has been working to improve the naira's value through various measures, including increasing foreign exchange supply. The appreciation of the naira may be attributed to these efforts.
The black market, however, continues to operate with a significant gap between its rates and the official FX market rates. This gap can be attributed to various factors, including the scarcity of foreign exchange and the high demand for it. The CBN has been working to narrow this gap and improve the overall efficiency of the foreign exchange market.
The naira's appreciation is a welcome development for the Nigerian economy, which has been facing challenges in recent times. A stable currency is essential for attracting foreign investment and promoting economic growth. The CBN's efforts to stabilize the naira are crucial in achieving these goals.
The development is also significant for businesses and individuals who rely on foreign exchange for their operations. A stable naira can help reduce the costs associated with importing goods and services, which can have a positive impact on the overall economy. The CBN's efforts to improve the foreign exchange market are essential in supporting these businesses.
Key points
- The naira traded at N1,329.8019 at the CBN's official FX window on September 21, 2026.
- The naira's appreciation reflects the country's efforts to stabilize its currency.
- The black market continues to operate with a significant gap between its rates and the official FX market rates.
