The Nigerian naira strengthened further against the US dollar on Thursday, August 20, 2026, supported by improved dollar liquidity in the foreign exchange market.
At the Nigerian Foreign Exchange Market (NFEM), the dollar was quoted at about ₦1,344.45 as of the latest available rate at 5:18 a.m. UTC.
The latest movement follows the naira’s recent gains in the official market. Central Bank of Nigeria (CBN) data showed the NFEM rate at ₦1,343.32 on August 18, while the currency closed at around ₦1,350 per dollar on August 17.
In the parallel market, the dollar was trading at about ₦1,404 on Thursday, according to Aboki Forex. This puts the street-market rate roughly ₦60 above the latest NFEM indication.
Recent market reports have linked the naira’s improved performance to stronger dollar supply and increased liquidity. AbokiFX reported on August 19 that the naira had climbed to a five-month high of ₦1,343.32 per dollar in the official market.
The CBN explains that the NFEM rate is calculated using a volume-weighted average and serves as the official exchange rate for the day.
However, Nigerians purchasing dollars for travel, school fees, imports, remittances and other foreign-currency obligations may receive different rates depending on their bank, Bureau de Change operator, location and transaction size.
The dollar-naira exchange rate remains subject to movement throughout the trading day as foreign exchange demand and supply change across both the official and parallel markets.
