The Nigerian naira is trading at about ₦1,345.94 to the US dollar in the Nigerian Foreign Exchange Market (NFEM) on Thursday, August 27, 2026, according to the latest available live exchange-rate data.
The latest rate puts $1 at approximately ₦1,345.94 in the early hours of Thursday, indicating that the naira has remained relatively firm around the ₦1,300 level following recent gains in the official foreign-exchange market.
In the parallel market, the dollar was quoted at about ₦1,405 on Wednesday, August 26, according to BusinessDay, with the naira holding steady at that level against the greenback.
A separate market report published early Thursday quoted the Lagos parallel-market rate at ₦1,398 to buy and ₦1,407 to sell on Wednesday, based on rates provided by Bureau De Change (BDC) operators.
The latest figures highlight a significant gap between official and parallel-market exchange rates. At ₦1,345.94 per dollar, the NFEM rate is about ₦59 below the ₦1,405 parallel-market selling rate.
The naira’s recent strength has been supported by improved dollar liquidity and stronger external reserves. BusinessDay reported that Nigeria’s external reserves had climbed to an 18-year high of $53.34 billion. The naira also appreciated to ₦1,343.59 per dollar at the NFEM on Wednesday, from ₦1,346.98 on Monday.
Improved foreign-exchange liquidity has helped ease pressure on the naira, although demand for dollars in the parallel market continues to keep unofficial rates above those in the official market.
For Nigerians looking to buy dollars, the actual rate offered by banks, Bureau De Change operators and other authorised dealers may vary depending on the provider, transaction size, location and prevailing market conditions.
It is also worth noting that parallel-market rates are unofficial and can change several times throughout the day. The Central Bank of Nigeria does not recognise the parallel market as an official foreign-exchange market.
