Naira slips against dollar at official FX market

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The naira depreciated against the United States dollar at the official foreign exchange market on Monday, trading at N1,346.9760 per dollar. The Central Bank of Nigeria published the rate on its official platform.

Official market performance

At the Nigerian Foreign Exchange Market (NFEM), the naira traded at N1,346.9760 per dollar and closed at N1,349.9900 per dollar on Monday, August 24, 2026. This followed an NFEM rate of N1,346.4913 per dollar on Friday, August 21, 2026, meaning the currency depreciated by at least N0.48 after trading activities.

Parallel market rates

At the parallel market, the buying rate remained unchanged while the selling rate decreased by N2 compared to the previous trading rate on Friday, August 21, 2026. The naira-to-dollar exchange rate at the black market on Monday, August 24, 2026, stood at N1,400 for buying and N1,405 for selling.

For Nigerian businesses and individuals sourcing dollars through the official window, the depreciation means paying more naira for every dollar purchased. The drop in the parallel market selling rate offers some relief for buyers outside the official market.

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