Naira rises to N1,327.78/$; black market at N1,389 on Sep 22
On Tuesday, September 22, 2026, the naira strengthened against the US dollar, with the official exchange rate moving to N1,327.78 per dollar from N1,329.80 the previous day—a gain of N2.02. At the parallel market, the naira traded at N1,389 per dollar, up from N1,390 on Monday, a one-naira appreciation.
The rally reduces the cost of importing goods and eases inflationary pressure, benefiting businesses that rely on foreign inputs and travelers seeking foreign currency. It also reflects stronger external reserves, which the Central Bank of Nigeria reported at approximately $55 billion on Monday—the highest level in 18 years—and coincides with the Monetary Policy Committee’s decision to cut the benchmark interest rate to 23 percent.
Importers may see lower landing costs, while exporters could receive fewer naira for each dollar earned. Travelers get more purchasing power abroad. Market participants should consider whether to lock in current rates through forward contracts or adjust pricing strategies, and watch for any policy shifts that could reverse the trend.
Will you adjust your import budget or travel plans given the naira’s stronger position?