The naira strengthened against the US dollar during the opening week of September 2026, while Nigeria’s foreign-exchange reserves also increased. The currency’s gain was recorded in the official market, in contrast with a stable parallel-market rate.
Currency and reserve movements
- At the beginning of September, the naira traded at N1,329.43 to the dollar in the official foreign-exchange market.
- By the close of business on Friday, September 4, the exchange rate had improved to N1,321.22 per dollar, representing an N8.21 appreciation over the first four trading sessions of the month.
- In Abuja’s Wuse Zone 4, several Bureau de Change operators said the parallel-market rate held steady at N1,400 per dollar throughout the period.
- Nigeria’s foreign-exchange reserves reached $54.08 billion on September 3, 2026, compared with $53.81 billion in the previous month.
