The naira extended its gains against the dollar in Nigeria’s official foreign-exchange market on Monday, closing August stronger as the currency entered September 2026.
Official-market rate improves
Central Bank of Nigeria figures showed the naira trading at N1,332.94 per dollar on Monday, compared with N1,337.29 on the previous Friday. The move represented a N4.35 appreciation and gave the currency a firmer finish to the month.
- Monday’s official rate: N1,332.94 to the dollar
- Previous Friday’s rate: N1,337.29 to the dollar
- Weekly movement: Naira gain of N4.35 against the dollar
Parallel-market rate holds steady
Trading outside the official market was unchanged, with the naira quoted at N1,400 per dollar on Monday. That was the same level recorded over the weekend.
Foreign reserves provide additional support
The currency’s latest advance came as Nigeria’s foreign-exchange reserves continued to build. Reserves climbed to $53.51 billion by August 28, based on central-bank data.
The naira had also strengthened across foreign-exchange markets during the preceding week, allowing it to close the week on a positive note.
