The naira traded at about N1,349.06 to the United States dollar on Friday, August 21, 2026, according to the latest available market indication.
At the Nigerian Foreign Exchange Market, the dollar was recently quoted at approximately N1,344.45, based on the latest official market indication from Thursday.
The Central Bank of Nigeria said the NFEM rate is determined using a volume weighted average of transactions and serves as the official exchange rate for the day.
Meanwhile, the dollar was selling for about N1,405 in the parallel market on Friday, according to the latest Aboki Forex indication.
The parallel market rate represents a premium of about N56 above the latest live rate of N1,349.06. Based on the confirmed NFEM rate of N1,344.45, the difference stands at about N60 per dollar.
The naira has recorded relative stability in the official market in recent days.
The currency strengthened to N1,343.32 per dollar on August 18, with market reports linking the improvement partly to increased dollar liquidity.
In the parallel market, the dollar reportedly moved from around N1,410 on August 19 to N1,404 on August 20 before settling at about N1,405 on Friday.
The exchange rate remains subject to changes during the day, depending on demand, supply and liquidity conditions in the foreign exchange market.
For Nigerians requiring foreign currency for international travel, school fees, imports, subscriptions, remittances and other transactions, the actual rate may vary depending on the bank, Bureau de Change operator, location and transaction volume.
Market participants are expected to continue monitoring developments in the official and parallel foreign exchange markets as the naira’s performance remains closely tied to dollar liquidity and demand.
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