The Nigerian naira continued to trade relatively firmly against the United States dollar on Tuesday, August 18, 2026, following recent gains at the official foreign exchange market and relative stability in the parallel market.
Latest official data showed the naira closing at about ₦1,350 per dollar at the Nigerian Foreign Exchange Market (NFEM) on Monday, August 17, strengthening from ₦1,358.25/$ recorded on Friday, August 14.
According to data published by the Central Bank of Nigeria (CBN), the August 17 closing rate represented an appreciation of ₦8.25, or approximately 0.6 per cent. It was also the naira’s strongest closing level since April 22, 2026.
Live market data put the dollar at approximately ₦1,351.25, indicating that the naira remained around the ₦1,350/$ level during trading.
Meanwhile, the currency traded at higher levels in the parallel market, where the dollar was quoted at about ₦1,407 for buying and ₦1,420 for selling, according to Bureau de Change market rates.
At the parallel-market selling rate, customers looking to purchase $1,000 would require approximately ₦1.42 million, while those selling $1,000 would receive about ₦1.407 million.
The ₦1,420 parallel-market selling rate was approximately ₦70 above the official NFEM rate, representing a gap of about 5.2 per cent between the two markets.
The naira’s recent performance at the official market has been attributed to improved foreign exchange liquidity and stronger dollar supply.
Market trends indicate continued relative stability, with the naira moving from ₦1,365.69/$ in the previous week to ₦1,357.61/$ on August 17 before strengthening further to close near ₦1,350/$.
The latest appreciation marks another positive development for the naira following months of efforts by monetary authorities to improve liquidity and stabilise the foreign exchange market.