The Nigerian naira is trading at about ₦1,345.94 to the US dollar in the Nigerian Foreign Exchange Market (NFEM) on Thursday, August 27, 2026, according to the latest available live exchange-rate data.
The live rate puts the value of $1 at approximately ₦1,345.94 as of the early hours of Thursday. This indicates that the naira remains relatively firm around the ₦1,300 level after recent gains in the official foreign exchange market.
In the parallel market, the dollar was quoted at about ₦1,405 on Wednesday, August 26, according to BusinessDay, with the naira maintaining the same level against the greenback.
Another market report published early Thursday put the Lagos parallel-market rate at ₦1,398 for buying and ₦1,407 for selling on Wednesday, based on information from Bureau De Change operators.
The latest figures show a noticeable difference between the official NFEM rate and parallel-market quotations. At the NFEM rate of ₦1,345.94, the dollar is about ₦59 below the parallel-market selling rate of ₦1,405.
The naira’s recent performance has been supported by improved dollar liquidity and stronger external reserves. BusinessDay reported that Nigeria’s external reserves had risen to an 18-year high of $53.34 billion, while the naira appreciated to ₦1,343.59 per dollar at the NFEM on Wednesday, compared with ₦1,346.98 on Monday.
The improvement in foreign-exchange liquidity has helped reduce pressure on the naira, although demand for dollars in the parallel market continues to keep the unofficial rate above the official market.
For Nigerians buying dollars, the actual rate offered by banks, Bureau De Change operators and other dealers may vary depending on the transaction, location and amount involved.
It is also important to note that parallel-market rates are unofficial and can change several times during the day. The Central Bank of Nigeria does not recognise the parallel market as an official foreign-exchange market.
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