Naira sheds N7.09/$ at official FX market

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The naira depreciated against the US dollar at the Central Bank of Nigeria official foreign exchange window on Wednesday, August 19, 2026, trading at N1,350.4134 per dollar. Data from the CBN platform showed the currency closed at N1,351.0000 per dollar.

Official market details

The Nigerian Foreign Exchange Market rate for the naira was N1,350.4134 per dollar on Wednesday. That compares with an NFEM rate of N1,343.3202 per dollar on Tuesday, August 18, 2026. The naira therefore shed at least N7.09 after trading activities on Wednesday.

Parallel market movement

At the parallel market, the buying rate decreased by N3 while the selling rate decreased by N5 when compared with the previous trading day. According to AbokiFX, the naira to dollar exchange rate at the black market on Tuesday, August 18, 2026, was N1,400 and N1,408 per dollar for buying and selling rates, respectively.

Pressure on the naira

The latest official rate drop shows continued pressure on the naira across both official and unofficial windows. For Nigerian businesses and consumers, a weaker naira means higher import costs and could feed into domestic prices in the coming days.

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