The Nigerian naira opened the new trading week relatively stable against the United States dollar, with the latest official data putting the exchange rate at about ₦1,337 to the dollar.
Data from the Nigerian Foreign Exchange Market (NFEM) showed that the naira closed Friday’s trading session at ₦1,337.00/$1, while the indicative NFEM rate stood at ₦1,337.2873/$1 on August 28, 2026.
The NFEM rate is calculated using a volume-weighted average of transactions conducted in the official foreign exchange market.
The latest performance represents an improvement from the ₦1,349.99/$1 recorded on August 24, indicating that the naira appreciated by about 0.96 per cent during the week.
However, the currency continued to trade at a weaker level in the parallel market.
Market data showed the dollar was quoted at about ₦1,400/$1 on Friday, down from ₦1,407/$1 recorded the previous day.
The parallel-market rate therefore reflected a gap of about ₦63 compared with the latest official NFEM rate.
Meanwhile, an indicative live USD/NGN rate early Monday put the dollar at around ₦1,346.78. The rate, however, does not represent the official NFEM closing rate, which is based on the most recently completed trading session.
The naira’s recent stability has been supported by improved foreign exchange liquidity, with NFEM turnover reaching about $1.06 billion in a trading session last week.
Nigeria’s foreign exchange reserves have also continued to provide support for the currency amid efforts by the Central Bank of Nigeria to improve liquidity and strengthen the foreign exchange market.
Today’s Dollar-To-Naira Rate
As of Monday, August 31, 2026, the latest available reference rates are:
– Official NFEM rate: ₦1,337.29/$1
– NFEM closing rate: ₦1,337/$1
– Parallel market: About ₦1,400/$1
– Indicative live rate: About ₦1,346.78/$1
However, actual rates offered by commercial banks, Bureau de Change operators and other foreign exchange dealers may differ from these reference rates due to transaction margins, liquidity and prevailing market conditions.
The naira-dollar rate could also change during the day as trading resumes and demand and supply conditions influence the foreign exchange market.