The Nigerian naira opened the new
week relatively stable against the US dollar, with the latest official foreign
exchange market data showing limited movement between the official and parallel
markets.
As of Monday, August 24, 2026,
the latest confirmed Nigerian Foreign Exchange Market (NFEM) rate from the
Central Bank of Nigeria (CBN) stood at ₦1,346.49
per dollar, based on Friday’s trading.
The dollar closed at ₦1,346.90 on Friday, while the
NFEM rate was determined using the volume-weighted average of transactions
conducted in the official market.
The latest NFEM rate represented
a ₦1.14 appreciation
for the naira from the previous day’s rate of ₦1,347.63/$.
On a week-on-week basis, the
naira gained ₦11.12
against the dollar.
During Friday’s trading session,
the dollar exchanged within a range of ₦1,342
to ₦1,348 before closing at ₦1,346.90.
Dollar to Naira Black Market Rate
In the parallel market, the
dollar was quoted at around ₦1,405
on Friday, according to AbokiFX data.
The parallel-market rate was unchanged
from Thursday’s level.
At ₦1,405/$, the parallel-market
rate was about ₦58.10
higher than the official closing rate of ₦1,346.90/$.
The gap between the two markets
remains relatively narrow compared with periods of significant foreign-exchange
volatility.
Live Dollar to Naira Rate
A separate live foreign-exchange
benchmark put the dollar at approximately ₦1,348.88 against the naira on Monday morning.
This was broadly in line with the
latest official-market levels.
However, the CBN had not
published the official NFEM rate for August 24 at the time of reporting. The
latest confirmed official rate therefore remained ₦1,346.49/$.
What is Supporting the Naira?
Recent naira stability has been
supported by improved foreign-exchange liquidity and stronger external
reserves.
Nigeria’s external reserves stood
at $52.66 billion as of August
19, 2026, according to CBN data cited by AbokiFX.
The stronger reserve position
provides additional foreign-exchange buffers and could support stability in the
official market, although exchange rates remain sensitive to dollar demand and
market liquidity.
Dollar to Naira Exchange Rate
Today
|
Market |
Exchange Rate |
|
Latest NFEM rate |
₦1,346.49/$ |
|
Official closing rate |
₦1,346.90/$ |
|
Parallel market |
₦1,405/$ |
|
Live FX benchmark |
₦1,348.88/$ |
|
Previous NFEM rate |
₦1,347.63/$ |
|
Friday trading range |
₦1,342–₦1,348/$ |
|
External reserves |
$52.66 billion |
For Nigerians and businesses
buying or selling dollars, actual rates may differ depending on the bank,
Bureau de Change operator, transaction size, location and prevailing market
conditions.
The dollar-to-naira rate can also
change during the day as demand and supply conditions evolve across the
official and parallel markets.
Source: CBN and Latest available market data.
