The naira remained relatively stable against the US dollar on Thursday, August 27, 2026, as the latest foreign exchange figures showed a stronger position in the official market.
The dollar was trading at about ₦1,345.94 in the Nigerian Foreign Exchange Market (NFEM), based on the latest available rate.
The figure indicates that the naira has continued to hold around the ₦1,300 level in the official market following recent improvements.
Official market update
The latest available NFEM figure put the value of one US dollar at approximately ₦1,345.94 on Thursday.
The naira had traded at about ₦1,343.59 per dollar on Wednesday, compared with ₦1,346.98 on Monday.
The NFEM rate is based on transactions carried out in Nigeria’s formal foreign exchange market.
Parallel market
The dollar remained more expensive in the parallel market.
Market reports indicated that the US currency was quoted at about ₦1,405 on Wednesday, August 26.
Another report from Lagos showed the dollar buying at ₦1,398 and selling at ₦1,407 on the same day, based on information from Bureau De Change operators.
At the reported parallel-market rate of ₦1,405, the dollar was about ₦59 higher than the NFEM rate of ₦1,345.94.
How much is $100, $500 and $1,000?
For Nigerians looking to estimate the naira value of common dollar amounts, $100 would cost about ₦140,500 at the reported parallel-market rate of ₦1,405 per dollar.
Similarly, $500 would be about ₦702,500, while $1,000 would amount to approximately ₦1,405,000.
These figures are only calculations based on the reported market rate. The actual amount paid may differ depending on the dealer, location and size of the transaction.
Why the naira is showing stability
The recent performance of the naira has been supported by improved dollar liquidity and stronger external reserves.
Nigeria’s external reserves were reported to have increased to $53.34 billion, described as an 18-year high.
Higher availability of foreign currency has helped reduce pressure on the naira in the official market.
Despite this improvement, demand for dollars in the parallel market remains strong. This has kept the unofficial rate above the NFEM level.
Why exchange rates can be different
The rate offered to customers is not always the same across banks and Bureau De Change operators.
Dealers may consider factors such as their available dollar supply, the amount involved, location and prevailing market conditions before setting a rate.
Parallel-market prices can also move several times in a day because of changes in demand and supply.
Nigerians who need dollars for travel, school fees, imports, subscriptions, remittances or other international payments should therefore confirm the current rate before completing a transaction.
Dollar To Naira Rate Today — August 27, 2026
As of Thursday, the NFEM rate stood at about ₦1,345.94 per dollar, while the parallel market was around ₦1,405.
The reported parallel-market buying rate was ₦1,398, while the selling rate stood at ₦1,407 per dollar.
The published figures are a guide to current market conditions and may not represent the exact rate available to every customer.
The Central Bank of Nigeria does not recognise the parallel market as an official foreign exchange market.
Note: Exchange rates can change during the trading day. Actual rates may vary between banks, Bureau De Change operators and other dealers based on dollar availability, location, transaction size and market conditions.
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