The Nigerian naira started the new trading week on a positive note, gaining slightly against the United States dollar at the official foreign exchange market on Monday, September 14, 2026.
Data from the Central Bank of Nigeria showed that the naira closed at N1,326.30 to a dollar on Monday, compared with N1,326.52 recorded at the end of trading on Friday.
The latest figure represents a gain of 22 kobo by the naira against the dollar within one trading day.
Although the gain was small, it marked another positive movement for the local currency at the official foreign exchange market as the naira continued to trade around the N1,300 range against the dollar.
The naira’s performance at the official market was, however, different from what was recorded at the parallel market.
At the black market, the dollar remained at N1,390 on Monday. This was the same rate recorded at the close of trading last week, indicating that there was no change in the parallel market exchange rate.
The difference between the official and parallel market rates remained at about N63 per dollar on Monday.
Meanwhile, Nigeria’s external reserves continued to show improvement, reaching $54.49 billion as of September 11, 2026.
The rise in the country’s external reserves comes amid the recent stability and gains recorded by the naira in the official foreign exchange market.
The naira had also appreciated against the dollar on Friday, continuing a recent trend of gains at the official market.
The foreign exchange market remains an important part of Nigeria’s economy because movements in the value of the naira against major international currencies affect businesses, importers, consumers and investors.
A stronger naira can reduce the local currency cost of imported goods and services, while also easing pressure on businesses that depend on foreign exchange for their operations.
However, the exchange rate can change from one trading session to another depending on the level of demand and supply of foreign currency in the market.
As trading continues this week, attention will remain on the official and parallel markets to see whether the naira can sustain its recent gains against the dollar.
The performance of the currency will also be closely watched alongside developments in Nigeria’s external reserves and the availability of foreign exchange in the market.
