Naira Holds Near ₦1,346/$ as Official-Parallel FX Spread Narrows
LAGOS — The Nigerian naira held relative stability against the US dollar on Wednesday, August 26, 2026, with the Central Bank of Nigeria's (CBN) volume-weighted official rate at about ₦1,346.34 per dollar, market data showed.
By Source Reporters Newsdesk
Thu, 27 August 2026 · 2 min read
LAGOS — The Nigerian naira held relative stability against the US dollar on Wednesday, August 26, 2026, with the Central Bank of Nigeria's (CBN) volume-weighted official rate at about ₦1,346.34 per dollar, market data showed.
According to the Nigerian Foreign Exchange Market (NFEM) rate cited by Gistreel, the naira traded near the ₦1,347 level it held in recent official-market trading, with intraday movement confined to a narrow band versus the previous close of about ₦1,346.90.
In the parallel market, the dollar sold for roughly ₦1,400, Aboki Forex data showed, leaving a spread of about ₦53.66 between the two markets. Reuters reported last week that the naira traded around ₦1,345 in the official market and about ₦1,410 on the street, implying the gap has narrowed further this week.
## FX rate across markets
- **NFEM (CBN VWAP):** ~₦1,346.34 (official, quoted 26 Aug 2026)
- **Parallel market:** ~₦1,400 ($100 ≈ ₦140,000; $1,000 ≈ ₦1.4m), Aboki Forex, 26 Aug 2026
- **Spread:** about ₦53.66 per dollar on 26 Aug 2026
Analysts note that while the spread is tighter than last week, individual transaction rates vary by channel — banks, bureaux de change and authorised dealers quote different prices depending on liquidity and demand.
## Oil-price backdrop
OilPrice.com reported Wednesday that Brent crude slipped as Iran–Oman indirect talks revived hopes of a reopening of the Strait of Hormuz, a move that could ease supply concerns supporting Nigeria's main export receipt. The site added that a firmer dollar index continued to weigh on pricing.
## Frequently asked questions
**What is the CBN naira rate today?**
The CBN-calculated NFEM rate was about ₦1,346.34 per US dollar on Wednesday, 26 August 2026.
**What is the parallel-market naira rate?**
Aboki Forex quoted roughly ₦1,400 per US dollar in the parallel market on the same day.
**Why is the naira more stable now?**
The CBN says the NFEM rate is the volume-weighted average of official-market transactions, and the official-to-parallel spread has narrowed to about ₦53.66 from roughly ₦65 a week earlier, Reuters data showed.
**How do I convert $100 to naira now?**
At the parallel-market rate, $100 buys about ₦140,000; at the official rate it would be about ₦134,634.
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