Naira strengthens to N1,350/$, strongest level since April
The naira strengthened to N1,350 per dollar on August 17, 2026, its strongest closing level since April 22, as the currency continued to gain ground against the US dollar at the Nigerian Foreign Exchange Market (NFEM). The post Naira strengthens to N1,350/$, strongest level since April appeared first on Nairametrics .
On August 17, 2026, the Nigerian naira reached N1,350 per US dollar, marking its strongest closing level since April 22. This significant gain of N8.25, or approximately 0.6%, continued the naira's upward trend in the Nigerian Foreign Exchange Market (NFEM). The Central Bank of Nigeria's website reported the naira's appreciation from N1,358.25/$ on August 14 to N1,350/$ on August 17.
This marks the strongest performance since April 22, when the naira closed at N1,348.10/$. The latest data from NFEM showed the naira trading between N1,347 and N1,361 per dollar, indicating relative stability in the official foreign exchange market. This movement reflects ongoing global currency trends, with the US dollar near multi-month lows against several major currencies.
Reduced expectations of near-term US monetary tightening and mild inflation readings have contributed to this favorable environment for the naira. Despite a decrease in NFEM turnover to $185 million on August 11, the lowest in 11 weeks, the naira's performance underscores the impact of external currency movements on the local market.
Written by urgent.news from Nairametrics's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
