The naira remained relatively stable against the United States dollar on Tuesday, August 25, 2026, as traders continued to monitor activity across Nigeria’s official and parallel foreign exchange markets.
Official dollar to naira rate
The latest available Nigerian Foreign Exchange Market (NFEM) data put the naira at ₦1,346.49 per dollar, while the most recent confirmed official closing rate stood at ₦1,346.90/$.
The Central Bank of Nigeria (CBN) says the NFEM rate is calculated from the volume-weighted average of transactions conducted in the official foreign exchange market.
A live USD/NGN market benchmark available on Tuesday morning placed the dollar at about ₦1,347.26, keeping it close to the latest official market levels.
Parallel market dollar rate
In the parallel market, the dollar was being quoted at around ₦1,400 on Tuesday, according to the latest available Aboki Forex market data.
The parallel-market rate was therefore about ₦53.10 above the latest official closing rate.
At the parallel-market rate, $100 would exchange for approximately ₦140,000, while $1,000 would be worth about ₦1.4 million.
However, rates may vary between dealers and locations depending on dollar supply, demand and transaction size.
Recent naira performance
The naira has maintained a relatively firm position in the official market in recent trading sessions.
On August 21, the NFEM rate stood at ₦1,346.49/$, while the official closing rate was ₦1,346.90. During that session, the currency traded between ₦1,342 and ₦1,348 per dollar.
The relatively narrow difference between the official and parallel markets also indicates that the gap remains contained compared with periods of sharper foreign exchange volatility.
What is supporting the naira?
Recent market conditions have been supported by improved foreign exchange liquidity and Nigeria’s external reserve position.
Available Central Bank of Nigeria data put the country’s external reserves at about $52.66 billion as of August 19.
Improved dollar availability can help reduce pressure on the naira, although movements in demand and supply can still cause rates to change during the trading day.
Why exchange rates differ
The official NFEM rate reflects transactions carried out through Nigeria’s formal foreign exchange market.
Parallel-market rates are influenced by the level of demand and available dollar supply among independent dealers. Location, transaction size and the dealer involved can also affect the rate offered.
As a result, the rate available to an individual or business may differ from published market indications.
What Nigerians should know
Anyone buying or selling dollars should confirm the applicable rate before completing a transaction, particularly when dealing with banks, Bureau De Change operators or other foreign exchange providers.
The dollar-to-naira rate can change during the day as market conditions shift, meaning published figures should be treated as market indications rather than guaranteed rates.
Businesses and individuals requiring foreign currency for travel, imports, school fees, subscriptions, remittances and other payments should check the prevailing rate with their chosen provider before making transactions.
Dollar to naira rate summary — August 25, 2026
Official NFEM rate: ₦1,346.49/$
Official closing rate: ₦1,346.90/$
Live market indication: About ₦1,347.26/$
Parallel market rate: About ₦1,400/$
Difference from official closing rate: About ₦53.10 per dollar
Note: Exchange rates can change as market conditions evolve and may vary across banks, Bureau De Change operators, locations and transaction sizes.
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