The Nigerian naira remained relatively stable against the United States dollar on Tuesday, August 25, 2026, as traders continued to monitor developments in the official and parallel foreign exchange markets.
The latest available Nigerian Foreign Exchange Market (NFEM) data put the naira at about ₦1,346.49 per dollar, while the official closing rate was ₦1,346.90/$ in the most recent confirmed trading session. The Central Bank of Nigeria (CBN) says the NFEM rate is derived from the volume-weighted average of transactions in the official market.
However, a live USD/NGN market benchmark on Tuesday morning was around ₦1,347.26 to the dollar, indicating that the currency was trading close to its recent official-market levels.
In the parallel market, the dollar was quoted at about ₦1,400/$ on Tuesday, according to the latest Aboki Forex data. This puts the street-market premium at roughly ₦53.10 above the latest official closing rate.
At the parallel-market rate of ₦1,400/$, $100 would exchange for about ₦140,000, while $1,000 would be worth approximately ₦1.4 million.
The latest figures show that the gap between the official and parallel markets has remained relatively contained compared with periods of severe foreign exchange volatility.
The naira had strengthened in the official market in recent sessions. On August 21, the NFEM rate stood at ₦1,346.49/$, while the dollar closed at ₦1,346.90. The currency had traded between ₦1,342 and ₦1,348 during that session.
The naira’s recent performance has been supported by improved foreign exchange liquidity and stronger external reserves. CBN data cited in recent market reports showed Nigeria’s external reserves at about $52.66 billion as of August 19.
For Nigerians and businesses buying or selling dollars, the actual rate may vary depending on the bank, Bureau de Change operator, location, transaction size and prevailing market conditions.
Parallel-market quotations are also subject to changes during the day as dollar demand and supply shift.
