Naira strengthens to N1,330.47/$ at official FX, black market steady at N1,375
On Tuesday, September 28, 2026, the naira appreciated at the official foreign exchange market to N1,330.47 per dollar, up from N1,331.33 on Monday, September 27—a gain of N0.86 in a single day. The parallel market remained unchanged, with the naira trading flat at N1,375 per dollar. Meanwhile, Nigeria's foreign reserves rose further to $54.91 billion as of September 28, according to Central Bank of Nigeria data.
This appreciation lowers the cost of imports and could ease inflationary pressure, benefiting consumers and businesses that rely on foreign goods and services. However, the steady black-market rate signals ongoing demand for dollars outside the official window, which may affect forex users, travelers, and importers who rely on parallel-market rates.
If you need to purchase dollars, the official rate currently offers better value than the black market. Consider timing your forex transactions to take advantage of the official window, and monitor CBN policies for further changes. Will you use the official rate for your dollar needs now, or wait to see if the naira appreciates further?