By Onu Okorie

Naira came under mild pressure against the United States dollar on Thursday, September 10, 2026, with the currency trading around ₦1,323–₦1,325 to the dollar in the official foreign exchange market.
Live market data put the dollar at about ₦1,323.45/$ on Thursday afternoon.
Data from the Nigerian Foreign Exchange Market (NFEM), the official market monitored by the Central Bank of Nigeria (CBN), showed continued trading around the ₦1,320/$ level. The CBN describes the NFEM rate as the volume-weighted average and official exchange rate for the day.
Market data indicated that the USD/NGN pair moved within a relatively narrow range during the session, with one market tracker putting the day’s range at approximately ₦1,319.25 to ₦1,329.98/$.
The movement came against a backdrop of a firmer dollar in international markets, as investors reacted to renewed inflation concerns, rising energy prices and expectations surrounding monetary policy in the United States.
Globally, the dollar strengthened against several major currencies on Thursday, while the dollar index was reported at about 98.93. The euro weakened slightly to $1.163 following the European Central Bank’s 25-basis-point interest-rate increase.

The international currency market was also affected by a sharp increase in crude oil prices, with Brent crude moving above $100 a barrel amid escalating geopolitical tensions. Higher oil prices have heightened concerns about renewed inflation and their potential implications for central-bank interest-rate decisions.

For Nigeria, the oil-price development carries particular significance because crude exports remain a major source of foreign exchange earnings. Sustained higher oil prices could potentially strengthen dollar inflows, although the impact on the naira will also depend on production levels, external obligations and the supply of foreign exchange into the domestic market.

In the parallel market, the dollar was quoted at about ₦1,380/$ buying and ₦1,390/$ selling on Thursday, according to market-tracking data.

The gap between the official and parallel-market quotations therefore remained noticeable, underscoring continuing differences between rates available across various segments of Nigeria’s foreign-exchange market.
At an indicative official rate of about ₦1,323.45/$, the difference between the official rate and the reported parallel-market selling rate of ₦1,390/$ was roughly ₦67 to the dollar.
Analysts and market participants will continue to monitor dollar liquidity, CBN interventions, foreign portfolio flows, crude oil receipts and demand from importers as key factors likely to influence the naira’s direction in coming sessions.
The market is also watching developments in the United States, particularly inflation data and expectations for the Federal Reserve’s next policy decision. Higher-than-expected inflation could strengthen the dollar by reinforcing expectations of tighter U.S. monetary policy.
Reuters +1
Thursday’s FX snapshot
Market
Dollar rate
Official/market reference
~₦1,323.45/$
USD/NGN intraday range
~₦1,319.25–₦1,329.98
Parallel market – buying
~₦1,380/$
Parallel market – selling
~₦1,390/$.