The Nigerian naira remained relatively stable against the United States dollar on Tuesday, August 25, 2026, as traders continued to monitor developments in both the official and parallel foreign exchange markets.
The latest available data from the Nigerian Foreign Exchange Market (NFEM) put the naira at approximately ₦1,346.49 to $1, while the most recent confirmed official closing rate stood at ₦1,346.90 per dollar.
Meanwhile, a live market benchmark on Tuesday morning showed the dollar trading at around ₦1,347.26, indicating that the naira remained close to its recent official-market levels.
Parallel market rate
In the parallel market, the dollar was quoted at approximately ₦1,400, according to the latest Aboki Forex data reported by Vanguard.
This represents a difference of about ₦53.10 between the parallel-market rate and the latest official closing rate.
At the parallel-market rate:
- $1 = ₦1,400
- $100 = ₦140,000
- $500 = ₦700,000
- $1,000 = ₦1.4 million
The parallel-market rate can vary depending on location, demand, transaction size and the dealer involved.
What is driving the naira?
The relative stability of the naira comes as market participants continue to watch foreign-exchange liquidity and dollar supply.
The official NFEM rate is calculated using a volume-weighted average of transactions in Nigeria’s official foreign exchange market.
For individuals and businesses, movements in the dollar-naira exchange rate remain important because they influence the cost of imported goods, international travel, school fees abroad, online purchases, raw materials and other foreign-currency obligations.
Dollar-naira outlook
The naira’s performance in the coming days will likely depend on developments in foreign-exchange liquidity, dollar demand and supply, investor activity and broader economic conditions.
For Nigerians and businesses planning foreign-currency transactions, monitoring both official and parallel-market rates remains important because the applicable rate can differ depending on the type of transaction.
OnPointGist will continue to provide daily updates on the dollar-naira exchange rate and major developments affecting Nigeria’s economy.
