The Nigerian naira maintained its recent strength against the United States dollar on Tuesday, August 18, 2026, as the currency continued to gain ground at the official foreign exchange market while remaining relatively stable in the parallel market.
At the Nigerian Foreign Exchange Market (NFEM), the naira closed at about ₦1,350 to the dollar on Monday, August 17. This marked an improvement from the ₦1,358.25/$ recorded on Friday, August 14.
Data from the Central Bank of Nigeria (CBN) showed that the latest NFEM rate represented an ₦8.25 appreciation, equivalent to about 0.6 per cent.
The movement also pushed the naira to its strongest closing level since April 22, 2026.
Meanwhile, live USD/NGN market data placed the dollar at around ₦1,351.25, keeping the exchange rate close to the ₦1,350/$ level.
The parallel market also recorded relative stability, with Bureau De Change operators quoting the dollar at approximately ₦1,407 for buying and ₦1,420 for selling.
At the parallel-market selling rate, anyone looking to purchase $1,000 would need about ₦1.42 million.
On the other hand, someone selling $1,000 would receive approximately ₦1.407 million at the reported buying rate.
The ₦1,420 parallel-market selling rate remains about ₦70 higher than the official NFEM rate of ₦1,350.
This puts the difference between the two markets at roughly 5.2 per cent.
The naira’s recent performance has been linked to improved foreign exchange liquidity and stronger dollar supply in the official market.
The currency has continued to show signs of stability after moving from ₦1,365.69/$ in the previous week to ₦1,357.61/$ on August 17 before settling around the ₦1,350/$ mark.
For Nigerians and businesses that rely on foreign currency, the recent movement could offer some relief after periods of significant exchange-rate volatility.
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