Naira Strengthens to Five-Month High Near ₦1,343/$ on Improved Dollar Supply
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The naira firmed to about ₦1,343 per dollar at the official market — its strongest level in roughly five months — as dollar liquidity improved.
The naira continued to strengthen against the US dollar on Thursday, August 20, 2026, trading at about ₦1,344 at the Nigerian Foreign Exchange Market (NFEM) as improved dollar liquidity supported the local currency.
Data from the Central Bank of Nigeria showed the NFEM rate at ₦1,343.32 on August 18, after the currency closed around ₦1,350 on August 17. AbokiFX reported that the naira had risen to a five-month high of ₦1,343.32 at the official market. In the parallel market, the dollar sold for about ₦1,404 on Thursday.
The CBN says the NFEM rate is a volume-weighted average and serves as the official rate; actual rates vary by bank, Bureau de Change and transaction size.
