The Nigerian naira remained relatively stable against the United States dollar on Tuesday, August 25, 2026, as market participants continued to monitor movements in the official and parallel foreign exchange markets.
The latest available data from the Nigerian Foreign Exchange Market (NFEM) showed the naira at about ₦1,346.49 per dollar, while the most recent confirmed official closing rate stood at ₦1,346.90/$.
The Central Bank of Nigeria (CBN) explains that the NFEM rate is calculated using the volume-weighted average of transactions conducted in the official foreign exchange market.
Meanwhile, a live USD/NGN market benchmark on Tuesday morning placed the dollar at around ₦1,347.26, indicating that the naira was trading close to its recent official-market level.
In the parallel market, the dollar was quoted at approximately ₦1,400/$ on Tuesday, based on the latest Aboki Forex data. This represents a difference of about ₦53.10 between the parallel-market rate and the latest official closing rate.
At the ₦1,400/$ parallel-market rate, $100 would exchange for approximately ₦140,000, while $1,000 would be worth about ₦1.4 million.
The latest figures indicate that the disparity between the official and parallel markets has remained relatively narrow compared with periods of significant foreign exchange volatility.
The naira had recorded gains in the official market during recent trading sessions. On August 21, the NFEM rate was ₦1,346.49/$, while the dollar closed at ₦1,346.90. During that session, the currency traded between ₦1,342 and ₦1,348 per dollar.
The naira’s recent stability has been supported by improved foreign exchange liquidity and stronger external reserves. Recent market reports citing CBN data put Nigeria’s external reserves at approximately $52.66 billion as of August 19.
For individuals and businesses buying or selling dollars, the actual exchange rate may differ depending on the bank, Bureau de Change operator, location, transaction size and prevailing market conditions.
Parallel-market rates may also fluctuate throughout the day as demand and supply for foreign currency change.