August 31, 2026
The Nigerian naira is opening the new trading week around the ₦1,300-per-dollar range, with the latest official Nigerian Foreign Exchange Market (NFEM) data showing a closing rate of about ₦1,337.29/$1 at the end of Friday’s session.
According to the Central Bank of Nigeria (CBN), the NFEM rate stood at ₦1,337.2873 per dollar on August 28, while the closing rate was ₦1,337.0000. The official NFEM rate is calculated using a volume-weighted average of transactions in the market.
The naira had strengthened during the previous week, moving from ₦1,349.99/$1 on August 24 to ₦1,337/$1 on August 28, representing an appreciation of about 0.96 percent.
In the parallel market, the dollar was quoted at about ₦1,400 on Friday, according to market data published by AbokiFX. This was ₦7 lower than the ₦1,407/$1 recorded the previous day.
