By Onu Okorie

Nigerian naira remained relatively stable against the United States dollar on Thursday, September 17, 2026, as foreign-exchange market participants continued to monitor dollar supply and demand ahead of the final quarter of the year.
Data available from the Nigerian foreign exchange market showed the dollar trading at around N1,330 to $1, with market data putting the USD/NGN rate at approximately N1,330.24 during Thursday’s trading.
The naira had closed the previous session at about N1,329.86 per dollar at the official market, representing a marginal weakening from the preceding session. The local currency also traded at varying rates across other market channels.
In the parallel market, reports put the dollar at approximately N1,380 for buying and N1,385 for selling, leaving a relatively narrow gap between the official and parallel-market rates compared with periods of wider divergence.
Dollar Supply Supports Naira
Reuters reported on Thursday that traders expected the naira to remain broadly stable, citing dollar sales by the Central Bank of Nigeria and relatively subdued foreign-exchange demand.
According to the report, the naira was quoted at about N1,328 per dollar in the official market, while street trading was around N1,390 per dollar.
A trader quoted by Reuters said central bank dollar sales were helping meet short-term demand, while import demand remained relatively subdued in mid-September compared with the seasonal increase normally associated with the fourth quarter.
The development comes as the foreign-exchange market continues to adjust to movements in global currencies, commodity prices and demand for hard currency.
Global Dollar Strength
Internationally, the US dollar remained firm against several currencies following monetary-policy developments in the United States.
Reuters reported that the Indian rupee, for instance, ended Thursday almost unchanged at 95.93 to the dollar after briefly weakening beyond the 96-per-dollar level. The report linked the dollar’s strength partly to a U.S. Federal Reserve rate hike and signals of another possible increase before the end of the year.
Oil-market developments also remained important for currency traders. Brent crude fell about 2.5 per cent to $103.13 a barrel on Thursday as concerns about Middle East supply disruptions eased somewhat.
For Nigeria, developments in the oil market remain closely watched because crude exports are a major source of foreign-exchange earnings.
Naira Outlook
Reuters said traders expected the naira to remain largely stable over the following week, supported by official dollar sales and relatively moderate demand for foreign exchange.
The outlook nevertheless remains dependent on dollar liquidity, import demand, crude-oil prices and broader movements in the international currency market.
As trading continues, market participants are expected to watch the official foreign-exchange window for further movements in the naira, while businesses and consumers continue to contend with different rates across authorised and parallel-market channels.
The Thursday market therefore ended with the naira trading within a relatively narrow range around the N1,330-per-dollar level in the official market, reflecting continued efforts to balance foreign-exchange supply and demand.
This can also be adapted into a shorter BusinessDay/Punch-style report, or expanded into a full forex market report covering the dollar, pound, euro, CFA franc and major African currencies..