Naira Opens New Week at N1,337 Officially, N1,400 in Parallel Market
business
The naira opened the new trading week at about N1,337 per dollar on the official market, while the parallel market rate stood around N1,400, as foreign exchange reserves continue to support the currency.
The Nigerian naira opened the new trading week around the N1,337-per-dollar mark on the official market on Monday, August 31, 2026, with the Central Bank of Nigeria's Nigerian Foreign Exchange Market (NFEM) closing Friday's session at N1,337.00 per dollar.
The naira strengthened during the previous week, appreciating from N1,349.99 per dollar on August 24 to N1,337 per dollar on August 28, representing a weekly gain of about 0.96 percent. NFEM turnover reached $1.06 billion in a single trading session last week, reflecting relatively strong foreign exchange liquidity.
In the parallel market, the dollar traded around N1,400 on Friday, according to data published by AbokiFX, a decline of about N7 from the previous day. An early indicative rate on Monday placed the dollar around N1,346.78, though this figure should not be confused with the official NFEM closing rate, which reflects the most recently completed trading session.