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 gap.
As of Monday, August 24, 2026, the most recent official Nigerian Foreign Exchange Market (NFEM) data available from the Central Bank of Nigeria (CBN) put the naira at N1,346.49 per dollar on Friday, August 21. The dollar closed at N1,346.90, while the NFEM rate was derived from the volume-weighted average of transactions in the official market.
The official market figure represented an improvement from the previous day’s NFEM rate of N1,347.63, meaning the naira gained N1.14 against the dollar on a day-to-day basis. On a week-on-week basis, the currency strengthened by N11.12.
The CBN’s published figures also showed that the dollar traded between N1,342 and N1,348 during Friday’s session before settling at N1,346.90.
In the parallel market, the naira was quoted at about N1,405 to the dollar, according to AbokiFX data reported on Friday. The rate remained unchanged from Thursday’s level.
This placed the gap between the official closing rate of N1,346.90 and the parallel-market rate of N1,405 at about N58.10 per dollar.
For today’s trading, however, the official NFEM rate for August 24 had not yet been published by the CBN at the time of reporting. The latest confirmed CBN figure therefore remains Friday’s N1,346.49 NFEM rate, while the parallel-market benchmark remains around N1,405 per dollar.
A separate live foreign-exchange benchmark showed the dollar at about N1,348.88 against the naira on Monday morning, broadly close to the official-market level.
The naira’s recent performance has been supported by improved foreign-exchange liquidity and stronger external reserves. The CBN data cited by AbokiFX showed Nigeria’s external reserves at $52.66 billion as of August 19, 2026.
For Nigerians buying or selling dollars, actual rates may vary depending on the bank, Bureau de Change operator, location, transaction size and market conditions. Parallel-market quotations are also indicative and can change during the day.
The dollar-to-naira exchange rate on Monday, August 24, 2026, can therefore be summarised as follows: the latest official NFEM rate was N1,346.49/$, with an official closing rate of N1,346.90/$, while the parallel-market rate was around N1,405/$.
