Naira Gains as Dollar Trades at ₦1,344.45 on August 20, 2026

The naira continued its upward movement against the US dollar on Thursday, August 20, 2026, with increased dollar liquidity helping to support the local currency in Nigeria’s foreign exchange market.

The US dollar was quoted at about ₦1,344.45 at the Nigerian Foreign Exchange Market (NFEM) as of the latest available rate on Thursday. A live currency-rate source put the USD/NGN rate at ₦1,344.45 as of 5:18 a.m. UTC.

The development marks another positive movement for the naira following its recent appreciation in the official market.

According to Central Bank of Nigeria (CBN) data, the NFEM rate was ₦1,343.32 on August 18, while the naira closed trading at approximately ₦1,350 per dollar on August 17.

Black-market dollar rate

Despite the naira’s gains in the official market, the dollar remained more expensive in the parallel market.

Aboki Forex quoted the dollar at approximately ₦1,404 on Thursday, August 20, placing the parallel-market rate about ₦60 above the NFEM rate.

The difference between the two rates highlights the continued disparity between Nigeria’s official foreign exchange market and the parallel market.

Improved dollar liquidity supports naira

The recent strengthening of the naira has been attributed by market reports to improved dollar supply and liquidity.

AbokiFX reported on August 19 that the naira had reached a five-month high of ₦1,343.32 per dollar in the official market, following stronger dollar liquidity.

The CBN explained that the NFEM exchange rate is calculated using a volume-weighted average and is used as the official exchange rate for the day.

However, Nigerians should note that the actual rate for purchasing or selling dollars can vary.

Those seeking dollars for travel, tuition and school fees, imports, remittances or other foreign-currency transactions may encounter different rates depending on the financial institution or Bureau de Change operator, location and size of the transaction.

The USD/NGN exchange rate can also change during the day as market demand and dollar supply fluctuate across the official and parallel markets.

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