The Nigerian naira recorded a decline against the United States dollar at the official foreign exchange market on Wednesday, September 9, 2026.
Gists9ja reports that data from the Central Bank of Nigeria (CBN) showed that the local currency closed trading at ₦1,329.2129 to the US dollar on Wednesday.
The latest figure represents a depreciation compared with the ₦1,320.2469/$1 recorded on Tuesday.
The naira therefore lost about ₦8.97 against the dollar at the official market between Tuesday and Wednesday, indicating renewed pressure on the local currency.
At the parallel market, popularly known as the black market, the dollar was quoted at about ₦1,390 on Wednesday, according to market sources.
The difference between the official and parallel-market rates reflects the varying conditions across Nigeria’s foreign exchange market. Actual rates offered by commercial banks, Bureau de Change (BDC) operators and other foreign exchange dealers may differ from reference rates because of transaction margins, liquidity and prevailing demand and supply conditions.
The naira’s latest movement comes amid continued efforts by the CBN to improve liquidity and stabilise the foreign exchange market.
Market participants are expected to closely monitor foreign exchange inflows, dollar demand, external reserves, and further policy measures by the apex bank for indications of the naira’s direction in the coming days.
For businesses and individuals who depend on foreign exchange, fluctuations in the naira-dollar exchange rate remain important as they can influence the cost of imported goods, international payments, travel expenses and other dollar-denominated transactions.
The key question for the market will be whether the naira can reverse Wednesday’s decline and regain some of the ground lost against the dollar as trading continues through September.
