The Nigerian naira began the new week relatively steady against the United States dollar, with only a modest difference between the official foreign exchange market and the parallel market.
As of Monday, August 24, 2026, the latest available data from the Central Bank of Nigeria (CBN) showed the naira at N1,346.49 per dollar on Friday, August 21. The dollar closed at N1,346.90, while the Nigerian Foreign Exchange Market (NFEM) rate was calculated using the volume-weighted average of transactions conducted in the official market.
The latest NFEM figure represented an improvement from Thursday’s rate of N1,347.63, indicating that the naira gained N1.14 against the dollar on a daily basis. Compared with the previous week, the currency appreciated by N11.12.
CBN data also showed that the dollar traded within a range of N1,342 to N1,348 during Friday’s trading session before closing at N1,346.90.
Meanwhile, the parallel market quoted the naira at approximately N1,405 to the dollar, according to AbokiFX data reported on Friday. The rate was unchanged from the previous day.
The difference between the official closing rate of N1,346.90 and the parallel-market rate of N1,405 stood at approximately N58.10 per dollar.
However, the official NFEM rate for Monday, August 24, had not been released by the CBN at the time of reporting. Consequently, Friday’s N1,346.49 NFEM figure remains the latest confirmed official rate, while the parallel-market benchmark remains around N1,405 per dollar.
Another live foreign-exchange benchmark put the dollar at approximately N1,348.88 on Monday morning, a figure broadly in line with the official-market rate.
The recent stability of the naira has been attributed to improved foreign-exchange liquidity and stronger external reserves. Data cited by AbokiFX showed that Nigeria’s external reserves stood at $52.66 billion as of August 19, 2026.
However, the actual rate available to Nigerians buying or selling dollars may differ depending on the bank, Bureau de Change operator, location, transaction volume and prevailing market conditions. Parallel-market rates are also indicative and may fluctuate throughout the day.
Dollar to Naira exchange rate today
As of Monday, August 24, 2026, the latest confirmed rates are:
- Official NFEM rate: N1,346.49/$
- Official closing rate: N1,346.90/$
- Parallel-market rate: Approximately N1,405/$
- Difference between official closing and parallel rate: Approximately N58.10/$