The Nigerian naira opened the new week relatively stable against the United States dollar, with the official foreign exchange market and parallel market maintaining a relatively narrow spread.
As of Monday, August 24, 2026, the latest official Nigerian Foreign Exchange Market (NFEM) data published by the Central Bank of Nigeria (CBN) showed an NFEM rate of Naira 1,346.49 per dollar for Friday, August 21. The dollar closed at Naira 1,346.90, with the NFEM rate reflecting the volume-weighted average of transactions in the official market.
The latest official rate represented an improvement from the previous day’s NFEM rate of Naira 1,347.63, meaning the naira strengthened by Naira 1.14 against the dollar on a day-to-day basis. On a week-on-week basis, the currency gained Naira 11.12.
CBN data also showed that the dollar traded between Naira 1,342 and Naira 1,348 during Friday’s session before closing at Naira 1,346.90.
In the parallel market, the naira was quoted at about Naira 1,405 to the dollar, according to AbokiFX data reported on Friday. The rate was unchanged from Thursday’s level.
The difference between the official closing rate of Naira 1,346.90 and the parallel-market rate of Naira 1,405 stood at approximately Naira 58.10 per dollar.
For Monday’s trading session, however, the CBN had not yet published the NFEM rate for August 24 at the time of reporting. Friday’s Naira 1,346.49 NFEM rate therefore remained the latest confirmed official benchmark, while the parallel-market rate was around Naira 1,405 per dollar.
A separate live foreign-exchange benchmark put the dollar at approximately Naira 1,348.88 against the naira on Monday morning, broadly in line with the official-market level.
The naira’s recent stability has been supported by improved foreign-exchange liquidity and stronger external reserves. CBN data cited by AbokiFX showed that Nigeria’s external reserves stood at $52.66 billion as of August 19, 2026.
For Nigerians buying or selling dollars, actual exchange rates may vary depending on the bank, Bureau de Change operator, location, transaction size and prevailing market conditions. Parallel-market quotations are indicative and may fluctuate throughout the day.
As of Monday, August 24, 2026, the dollar-to-naira exchange rate can therefore be summarised as follows: the latest confirmed official NFEM rate was Naira 1,346.49 per dollar, the official closing rate was Naira 1,346.90 per dollar, while the parallel-market rate stood at approximately Naira 1,405 per dollar.
