Naira up 12% in a year; dollar slips to ₦1,347

The Nigerian naira held firm against major currencies on 24 August 2026, with the Central Bank of Nigeria (CBN) official rate for the US dollar settling at ₦1,347.49 to buy and ₦1,346.49 to sell. The dollar gained 0.13% against the naira over the previous 24 hours, leaving the local currency slightly weaker than a day earlier, according to rate data tracked by Monierate.

The official CBN benchmark, used by banks and licensed operators, also showed the euro at ₦1,573.11 to buy and ₦1,571.94 to sell (up 0.10%), the British pound at ₦1,836.75 and ₦1,835.38 (easing 0.11%), and the Chinese yuan at ₦200.34 and ₦200.19.

Contents

01

The official CBN picture

02

A stronger naira over the longer run

03

Where the naira stands historically

04

What forecasters expect next

The official CBN picture

Monierate tracks nine CBN currency rates against the naira, refreshed as new data comes in. As of 24 August 2026, the covered currencies were the US dollar, euro, British pound, Chinese yuan, Japanese yen (₦8.478 buy / ₦8.472 sell), South African rand (₦84.004 / ₦83.942), UAE dirham (₦366.62 / ₦366.35), and the CFA francs XAF and XOF (each ₦2.388 / ₦2.368).

A stronger naira over the longer run

Beyond the daily official fix, market data from Trading Economics shows the USD/NGN rate rose to 1,348.85 on 24 August 2026, up 0.06% from the previous session. Over the past month the naira strengthened 1.17%, and it is up 12.24% over the last 12 months.

The currency's crosses on the same date were EURNGN at 1,575.2285, GBPNGN at 1,840.0460, AUDNGN at 966.7309, NZDNGN at 805.9036, NGNJPY at 0.1180, NGNCNY at 0.0050, NGNCHF at 0.0006 and NGNCAD at 0.0010.

Where the naira stands historically

The USD/NGN exchange rate reached an all-time high of 1,717.50 in November 2024, according to Trading Economics, with the data last updated on 24 August 2026.

What forecasters expect next

Trading Economics global macro models project the naira to trade at 1,344.51 by the end of Q3 2026 and at 1,322.55 in 12 months' time, pointing to gradual further appreciation if the outlook holds.