The Nigerian naira continued to strengthen against the US dollar on Thursday, August 20, 2026, as improved dollar liquidity supported the local currency across 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 on Thursday. A live currency-rate source recorded the USD/NGN rate at ₦1,344.45 as of 5:18 a.m. UTC.
The latest movement follows the naira’s recent appreciation in the official market. Data from the Central Bank of Nigeria (CBN) showed the NFEM rate stood at ₦1,343.32 on August 18, while the currency had strengthened to around ₦1,350 per dollar at the close of trading on August 17.
In the parallel market, the dollar was selling for about ₦1,404 on Thursday, according to Aboki Forex. The platform reported that the black-market rate for one US dollar stood at ₦1,404 on August 20.
The parallel-market rate represents a premium of roughly ₦60 above the latest NFEM indication, highlighting the continuing gap between the official and street markets.
Recent market reports have attributed the naira’s stronger performance to improved dollar supply and liquidity. AbokiFX reported on August 19 that the naira had risen to a five-month high of ₦1,343.32 per dollar at the official market amid stronger dollar liquidity.
The CBN says the NFEM rate is derived using a volume-weighted average and serves as the official exchange rate for the day.
For Nigerians buying dollars for travel, school fees, imports, remittances or other foreign-currency obligations, actual rates may vary depending on the bank, Bureau de Change operator, location and transaction size.
The dollar-to-naira rate remains subject to changes during the trading day as demand and supply conditions evolve in both the official and parallel markets.
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