- Dollar to Naira Exchange Rate Today, August 18, 2026
- The parallel market is quoting the dollar around ₦1,428.
- Improved liquidity continues to support the naira at the official market.
The Nigerian naira gained ground against the United States dollar at the official foreign exchange market on Monday, August 17, with the currency closing at ₦1,349.53 per dollar, according to data from the Central Bank of Nigeria.
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EKO HOT BLOG reports that the latest movement represents an appreciation of ₦8.07 from the ₦1,357.60 recorded on Friday, August 14, indicating a 0.6 per cent improvement in the value of the naira against the dollar. The official NFEM rate is derived from the volume weighted average of transactions and serves as the benchmark for the official foreign exchange market.
| Dollar rate | Exchange rate |
|---|---|
| Official rate, August 17 | ₦1,349.53/$ |
| Previous official rate | ₦1,357.60/$ |
| Official movement | ₦8.07 gain |
| Black market buying rate | Around ₦1,415/$ |
| Black market selling rate | Around ₦1,428/$ |
In the parallel market, however, the dollar continues to trade above the official rate, with market reports putting the buying rate at about ₦1,415 and the selling rate at approximately ₦1,428 on Tuesday, August 18. The parallel market rate can vary depending on the location, dealer and volume of the transaction.
The difference between the official and parallel market rates remains significant, reflecting the different conditions affecting both segments of Nigeria’s foreign exchange market. While the official market has benefited from improved liquidity and interventions by the Central Bank, demand for dollars from importers, manufacturers, travellers and other businesses continues to influence rates outside the official market.
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