The naira appreciated by N8.07 (0.59%) against the US dollar in the official foreign exchange market on Monday, August 17, 2026, closing at N1,349.54/$1, according to data from the Central Bank of Nigeria (CBN). This marks an improvement from the N1,357.61/$1 recorded in the previous trading session.
Naira Gains Against Pound and Euro
The Nigerian currency also strengthened against the British pound, gaining N9.99 to close at N1,830.11/£1, compared with the previous rate of N1,840.10/£1. Similarly, the naira rose by N6.91 against the euro, settling at N1,564.79/€1, up from N1,571.70/€1 in the prior session.
However, the naira remained unchanged against the US dollar at N1,395/$1 in the parallel market, while the exchange rate at the GTBank forex counter also held steady at N1,364/$1.
FX Turnover Rises Significantly
Interbank FX turnover, according to CBN data, surged by 265% to $437.529 million from $119.594 million in the previous trading session. The number of deals also increased to 178 from 137.
Total FX inflows into the NAFEM window rose significantly to $1.77 billion from $0.83 billion in the previous week, according to data from the research subsidiary of Coronation Group. Domestic sources accounted for 63.44% of total inflows, with exporters contributing 31.2% and non-bank corporates accounting for 17.7%.
BusinessDay reports that the CBN injected $252.1 million, representing 14.3% of total inflows, to improve liquidity in the official FX market. Foreign portfolio investors remained the largest single external source of foreign exchange, contributing 33.71% of aggregate inflows.
Other Currencies' Exchange Rates
The CBN also provided updated selling rates for other major currencies on Monday, August 17, 2026: CFA at N2.39, Yuan/Renminbi at N200.19, Danish Krone at N209.27, Euro at N1,564.79, Yen at N8.47, Riyal at N359.44, South African Rand at N83.31, SDR at N1,846.98, Swiss Franc at N1,667.74, Pound Sterling at N1,830.11, US Dollar at N1,349.54, WAUA at N1,855.18, and UAE Dirham at N367.42.
Earlier, Legit.ng reported that the CBN had eased its rules on Personal Travel Allowance (PTA) and Business Travel Allowance (BTA). Under the revised FX rules effective June 1, 2026, travellers can receive 25% of their allowances in cash dollars, while 75% is processed electronically, giving Nigerians travelling abroad more flexibility in accessing foreign exchange for personal and business trips.
