The Nigerian naira traded at ₦1,346.90 per US dollar in the official market on Tuesday, August 25, 2026, while the dollar exchanged for about ₦1,400 in the parallel market.
The latest figures show that the gap between the official and parallel markets remains relatively narrow despite continued demand for foreign exchange.
The Nigerian Foreign Exchange Market, NFEM, rate stood at about ₦1,346.49 per dollar based on the latest available data, while a live USD/NGN benchmark was around ₦1,347.26/$ on Tuesday morning.
Official Dollar to Naira Rate
The Central Bank of Nigeria, CBN, calculates the NFEM rate using the volume-weighted average of transactions conducted in the official foreign exchange market.
The naira has remained relatively stable against the dollar in recent trading sessions after recording gains against the US currency.
On August 21, the NFEM rate stood at ₦1,346.49/$, while the official closing rate was ₦1,346.90/$.
During that session, the dollar traded between ₦1,342 and ₦1,348.
Dollar Sells for ₦1,400 in Parallel Market
In the parallel market, the dollar was selling for approximately ₦1,400 on Tuesday, according to the latest Aboki Forex data.
Based on the official closing rate of ₦1,346.90, the difference between both markets was about ₦53.10 per dollar.
At ₦1,400/$:
- $100 = ₦140,000
- $500 = ₦700,000
- $1,000 = ₦1.4 million
The relatively small gap between the official and parallel markets indicates that exchange-rate volatility remains contained compared with periods when the naira faced stronger pressure.
What Is Supporting the Naira?
Improved foreign exchange liquidity and stronger external reserves have continued to support the naira in recent weeks.
Recent data cited in market reports put Nigeria’s external reserves at approximately $52.66 billion as of August 19, 2026.
However, the actual exchange rate available to customers may vary depending on the bank, Bureau de Change operator, transaction size, location and prevailing market conditions.
Parallel-market rates can also change during the day as demand and supply conditions shift.
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