The Dollar Index (DXY) has slipped for three straight sessions, trading near the 99.5–99.6 area as cooling US inflation and softer retail sales data pushed traders to scale back bets on a near-term Fed rate hike. Markets now price roughly a 63–67% chance the Fed holds steady at its next meeting, with focus shifting to the FOMC minutes and Fed Chair Kevin Warsh’s Jackson Hole remarks later this month. Equities pulled back Monday on a bond-yield selloff and Middle East oil jitters, even as AI-linked chip stocks rallied.
| Pair / Index | Level | Trend |
|---|---|---|
| US Dollar Index (DXY) | ~99.58 | 3-day decline |
| EUR/USD (Q3 forecast) | ~1.16 | range-bound |
| GBP/USD (Q3 forecast) | ~1.35 | range-bound |
| USD/JPY (Q3 forecast) | ~159 | BoJ/Treasury watching |
| USD/CAD (Q3 forecast) | ~1.40 | steady |
Naira — Official vs Black Market NGN
The naira has been firming slightly on the parallel market. As of the most recent published rates (Aug 17), the black market dollar rate eased to around ₦1,415 from ₦1,429 a week earlier — about a 1% gain for the naira. The spread against the official NFEM window remains modest compared with 2024–25 levels.
| Currency | Black Market Buy (₦) | Black Market Sell (₦) |
|---|---|---|
| US Dollar (USD) | 1,405 | 1,415 |
| Euro (EUR) | 1,560 | 1,610 |
| British Pound (GBP) | 1,870 | 1,900 |
| Canadian Dollar (CAD) | 1,000 | 1,040 |
| South African Rand (ZAR) | 80 | 90 |
| UAE Dirham (AED) | 350 | 370 |
| Chinese Yuan (CNY/RMB) | 190 | 205 |
| Ghanaian Cedi (GHS) | 95 | 110 |
| Australian Dollar (AUD) | 800 | 900 |
| West African CFA (XOF) | 2,300 | 2,400 |
| Central African CFA (XAF) | 2,150 | 2,250 |
Rates dated 17–18/08/2026, drawn from parallel-market aggregators (NgnRates.com, AbokiForex). Buy = what dealers pay you for the currency; Sell = what dealers charge you to buy it. Black market rates are informal, vary by location/dealer/time of day, and street quotes from individual traders can differ from these averages — treat as indicative only, not a trading reference.
Sources: NgnRates.com, AbokiForex, Babypips FX recap, TradingEconomics — August 17–18, 2026.
Leave a Reply