Naira Firms to Around ₦1,350/$, Its Strongest Level Since April
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The naira continued its recent appreciation, closing near ₦1,350 to the dollar at the official market — its best level in nearly four months.
The naira traded firmly against the US dollar this week, extending recent gains at the official Nigerian Foreign Exchange Market (NFEM). The currency closed at about ₦1,350 per dollar on Monday, August 17 — an appreciation of ₦8.25, or roughly 0.6%, from ₦1,358.25/$ on Friday, August 14.
According to Central Bank of Nigeria data, the Monday rate marked the naira’s strongest closing level since April 22, 2026. In early Tuesday trading, live rates put the dollar at around ₦1,352.
In the parallel market, the dollar was quoted at roughly ₦1,407 for buying and ₦1,420 for selling, based on the latest Bureau de Change rates. Analysts note parallel-market rates vary by location and dealer, while the official NFEM rate is a volume-weighted average of formal market transactions.
