The naira remained within the ₦1,300 range against the US dollar on Friday, August 21, 2026, as the latest exchange rates showed relative stability in the official market.
The latest figures indicated that the Nigerian currency was trading around ₦1,349.06 to the dollar, while the parallel market continued to quote the US currency at a higher rate.
Official dollar to naira rate
The latest available indication puts the dollar at about ₦1,349.06 on Friday.
At the Nigerian Foreign Exchange Market (NFEM), the most recently confirmed rate was approximately ₦1,344.45 per dollar, based on Thursday’s official-market indication.
The Central Bank of Nigeria says the NFEM rate is calculated using the volume-weighted average of transactions carried out in the market and serves as the official exchange rate for the day.
The latest live indication therefore places the naira slightly weaker than the most recent confirmed NFEM rate, although it remains around the ₦1,300 level against the dollar.
Parallel market dollar rate
The parallel market continued to trade at a higher rate on Friday.
The latest Aboki Forex indication puts the dollar at about ₦1,405 in the parallel market.
This means the parallel-market rate is approximately ₦56 higher than the latest live indication of ₦1,349.06.
When compared with the confirmed NFEM rate of ₦1,344.45, the difference rises to about ₦60 per dollar.
Dollar to naira rates at a glance
| Market | Dollar rate |
|---|---|
| Official NFEM | ₦1,344.45/$ |
| Live indication | About ₦1,349.06/$ |
| Parallel market | About ₦1,405/$ |
Rates are based on the latest available figures and may change as trading continues.
Recent naira performance
The naira has shown relative strength in the official market in recent trading sessions.
The currency strengthened to about ₦1,343.32 per dollar on August 18, with stronger dollar liquidity cited as one factor supporting the improvement.
Movement in the parallel market has also been relatively limited.
The dollar was quoted at around ₦1,410 on August 19 before moving to about ₦1,404 on August 20. The latest indication for Friday puts the rate at approximately ₦1,405.
The movements suggest that the naira has remained relatively stable in both markets, although a noticeable difference continues to exist between the official and parallel rates.
Difference between official and parallel rates
Using the latest live indication of ₦1,349.06, the parallel-market dollar rate of ₦1,405 is about ₦56 higher.
Against the latest confirmed NFEM rate of ₦1,344.45, the gap is approximately ₦60 per dollar.
The difference means Nigerians sourcing dollars outside the formal market may still pay considerably more than those accessing foreign exchange through official channels.
What could influence the next exchange rate?
The naira’s direction in the coming days will depend largely on foreign exchange supply and demand.
Dollar liquidity, demand from importers and other businesses, foreign investment inflows, remittances and developments in the oil market could all influence the exchange rate.
Central Bank of Nigeria policies and interventions in the foreign exchange market will also remain important to the movement of the naira.
Why exchange rates differ
The official NFEM rate reflects transactions in Nigeria’s formal foreign exchange market and is calculated using a volume-weighted average.
Parallel-market rates operate differently and can vary depending on the dealer, location, demand and amount of foreign currency involved.
As a result, the rate available to an individual or business may not always match the published market indications.
What Nigerians should know
The dollar-to-naira exchange rate can change during the day as market conditions shift.
People looking to buy or sell dollars for international travel, school fees, imports, subscriptions, remittances or other transactions should confirm the applicable rate before completing a deal.
Dollar to Naira Rate Summary — August 21, 2026
- Official NFEM rate: About ₦1,344.45/$
- Live market indication: About ₦1,349.06/$
- Parallel market rate: About ₦1,405/$
- Official market trend: Naira remains relatively stable within the ₦1,300 range
- Parallel market gap: About ₦56 above the latest live indication
Note: Exchange rates can change during the day and may differ across banks, Bureau De Change operators and other foreign exchange dealers.
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