Posted by Chinenye on Wed 23rd Sep, 2026 - tori.ng
The naira has gained a little strength against the US dollar, with both the official and street market rates moving down.
(Dollar to Naira. Photo by Naiarcompare)
The Nigerian naira improved its value against the US dollar on Wednesday, September 23, 2026.
This means you need less naira to buy one dollar than you did the day before.
At the official market, which is run by the government, one dollar cost N1,327.78 on Tuesday.
The day before, on Monday, it cost N1,329.80.
This means the naira got stronger by about N2.02.
On the black market, which people call the parallel market, one dollar was selling for about N1,389 on Tuesday.
The day before it was N1,390.
So the black market rate also came down a little bit.
There is a gap between what the government's official rate is and what people charge on the black market.
The difference is about N61.22 per dollar.
This means if you buy dollars on the black market instead of the official market, you will pay more money.
If you wanted to buy 100 dollars on the black market, you would need approximately N138,900.
If you wanted to buy 1,000 dollars, it would cost you about N1.389 million naira.
The amount you actually pay for dollars may be different depending on where you buy it, who you buy from, how much you are buying and what is happening in the market at that time.
The naira has been getting better recently because of what is happening in Nigeria's money market.
The Central Bank of Nigeria, which controls the country's money, has been selling dollars to help make the naira stronger.
Also, fewer people are trying to buy dollars to bring in goods from outside Nigeria right now.
As of Wednesday, September 23rd, the official rate is N1,327.78 per dollar and the black market rate is around N1,389.
These rates could change during the day as more people buy and sell dollars.