The Nigerian naira recorded further gains against the United States dollar on Thursday, August 20, 2026, supported by improved dollar availability across the foreign exchange market.
At the Nigerian Foreign Exchange Market (NFEM), the dollar was trading at approximately ₦1,344.45 as of the latest available rate on Thursday. A live currency-rate source also placed the USD/NGN exchange rate at ₦1,344.45 at 5:18 a.m. UTC.
The latest movement extends the naira’s recent positive performance in the official market. Data from the Central Bank of Nigeria (CBN) showed that the NFEM rate stood at ₦1,343.32 on August 18, while the naira had traded at around ₦1,350 per dollar at the close of business on August 17.
In the parallel market, the dollar was selling for approximately ₦1,404 on Thursday, according to Aboki Forex. The platform reported a black-market rate of ₦1,404 to $1 on August 20.
The difference between the parallel-market selling rate and the latest NFEM rate is roughly ₦60, showing that a significant gap remains between Nigeria’s official and informal foreign exchange markets.
Recent market reports have linked the naira’s improved performance to increased dollar supply and liquidity. AbokiFX reported on August 19 that the naira had climbed to a five-month high of ₦1,343.32 per dollar in the official market amid stronger dollar liquidity.
The CBN explains that the NFEM rate is calculated using a volume-weighted average of transactions and serves as the official exchange rate for the day.
For Nigerians purchasing dollars for international travel, school fees, imports, remittances and other foreign-currency payments, the actual rate may differ depending on the bank, Bureau de Change operator, location and amount involved.
The dollar-to-naira exchange rate can also change throughout the day as market conditions, including foreign-currency demand and supply, continue to fluctuate.