The naira has maintained a remarkably narrow trading range against the US dollar, closing around ₦1,329/$ for four consecutive trading sessions and recording its longest stretch of relative stability since July 2025. Data from the Nigerian Foreign Exchange Market (NFEM), as published by the Central Bank of Nigeria (CBN), showed only marginal movements in the official exchange rate between September 10 and September 15, 2026.
The local currency closed at ₦1,328/$ on September 10, before edging to ₦1,328.50/$ on September 11, ₦1,329/$ on September 14 and ₦1,329.50/$ on September 15. In total, the naira moved by just ₦1.50/$ across the four sessions, highlighting the relatively tight trading range in the official FX market.
Trading activity, however, varied across the period. NFEM turnover stood at about $1.45 billion on September 10, $458.99 million on September 11 and $423.95 million on September 14, while turnover on September 15 was reported at $262.12 million. The naira also traded between ₦1,326.50/$ and ₦1,333/$ during the September 15 session, keeping intraday movements relatively contained.
The latest stability comes against a broader backdrop of improving macroeconomic indicators. Nigeria’s August 2026 inflation report was published by the National Bureau of Statistics on September 15, while official data also continue to track developments in consumer prices and the wider economy. The CBN has also continued to operate the NFEM under its revised foreign-exchange framework, which consolidated the official FX market and is designed to improve transparency and market functioning.
The last comparable four-session period occurred in July 2025, when the naira’s closing rate remained within a similarly narrow range around ₦1,535–₦1,536/$. For businesses, importers, investors and consumers who closely monitor the dollar exchange rate, the latest movement provides another closely watched signal from Nigeria’s foreign-exchange market as the country continues to navigate inflation, dollar demand and broader economic pressures.
source: nairametrics
