The Nigerian naira ended the trading week on a stronger note against the United States dollar, with official foreign exchange market data showing further improvement in the value of the local currency.
According to the Central Bank of Nigeria (CBN), the Nigerian Foreign Exchange Market (NFEM) rate stood at ₦1,337.2873 per dollar on Friday, August 28, 2026. The official closing rate was also reported at about ₦1,337 per dollar.
The latest performance represents a ₦1.30 gain, or approximately 0.09 per cent, compared with the previous trading session, when the naira closed around ₦1,338.59 per dollar.
The naira’s movement has attracted attention as the currency continues to trade within a narrower range than it did during periods of heightened volatility. Market data also showed that the local currency had strengthened over the broader monthly period.
In the parallel market, however, the exchange rate remained higher than the official rate. The naira was reported at around ₦1,403 per dollar on Friday, improving from ₦1,407 recorded on Thursday, according to market reports.
The difference between the official and parallel-market rates remains an important indicator for businesses and individuals who require foreign currency for imports, international transactions, education, travel and other payments.
The recent appreciation is also significant for Nigeria’s economy because a more stable naira can help businesses plan foreign-currency transactions with greater certainty and potentially ease some imported-cost pressures.
Nevertheless, analysts and market participants continue to monitor dollar liquidity, foreign-exchange demand, capital inflows and broader economic conditions that could influence the currency’s direction.
The CBN has continued to publish NFEM rates based on the volume-weighted average of transactions in the official market.
With the naira ending the week positively, attention will now turn to whether the currency can sustain its recent gains when foreign-exchange trading resumes next week.
