Naira Holds Steady at N1,350 to Dollar as FX Liquidity Improves

By admin

Aug. 18, 2026 | 3:23 pm GMT

The Nigerian naira held steady near four-month highs against the United States dollar on Tuesday, August 18, 2026, driven by sustained dollar liquidity and firmer central bank interventions.

Official data from the Central Bank of Nigeria (CBN) showed the currency closed at N1,350 per dollar at the official Nigerian Foreign Exchange Market (NFEM) on Monday evening. That marked an 8.25 naira gain from N1,358.25 recorded on Friday, August 14.

Monday’s closing figure represents the naira’s strongest official performance since April 22. Early morning spot trading on Tuesday mirrored that firmness, with live exchange sources pricing the dollar near N1,352.

Parallel market operators in Lagos and Abuja quoted buying rates around N1,407 and selling prices at N1,420 per dollar on Tuesday morning.

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The spread between official and street rates currently stands at roughly 5.2 percent, or N70. Individual transactions in the unofficial market require about N1.42 million to secure $1,000.

Commercial traders attribute the currency’s steadying path over recent trading sessions to improved supply in formal channels. Central bank inflows and sustained export proceeds helped absorb demand pressure from commercial importers entering the third quarter.

Currency dealers expect spot rates to track crude oil revenues and foreign portfolio flows through the remainder of the week. Market focus remains centered on whether the CBN will introduce additional liquidity measures to compress the remaining parallel market premium

admin|Contributor

The Central Report Editorial Desk

Tagged to:currency,dollar,Naira