Naira to Dollar exchange rate today, Monday, August 17, 2026
The Nigerian naira opened the week at N1,357.61 per US dollar at the official Nigerian Foreign Exchange Market (NFEM), while the currency traded around N1,420 per dollar at the parallel market.
Data from the Central Bank of Nigeria (CBN) showed that the latest NFEM rate stood at N1,357.61/$1.
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The rate reflects the volume-weighted average of transactions conducted in the official foreign exchange market.
At the parallel market, the dollar remained around N1,420, creating a gap of about N62.39 between the two exchange rates.
Proshare reported that the naira gained 59 basis points at the official market, appreciating to N1,357.61/$1. I’m
Meanwhile, the parallel-market rate remained unchanged at N1,420/$1.
Naira strengthens against previous week
The latest official rate represents an improvement from the N1,365.69/$1 recorded the previous week.
The naira’s appreciation has been attributed to improved foreign exchange liquidity and stronger dollar supply in the official market.
Recent market indicators have also pointed to relative stability in the naira-dollar exchange rate.
A live USD/NGN rate source quoted the dollar at approximately N1,358.30 in the early hours of Monday, August 17, while other market data placed the exchange rate around N1,358.
The naira’s performance comes amid stronger external reserves and recent measures introduced by the CBN to improve liquidity and efficiency in Nigeria’s foreign exchange market.
Nigeria’s external reserves reportedly climbed to $52.19 billion as of August 12, 2026, marking their highest level in 17 years.
For Nigerians buying or selling US dollars outside the official market, the parallel-market rate remains higher than the NFEM rate.
The difference highlights the continued gap between Nigeria’s official and parallel foreign exchange channels.
However, the spread remains relatively moderate compared with periods of severe market volatility.
As trading continues on Monday, August 17, the NFEM rate and parallel-market quotations could change in response to dollar supply, demand from importers and other FX users, CBN interventions and movements in global currency markets.