Naira Exchange Rate Today Monday 24th August 2026, SOJWORLDNEWS
Naira Exchange Rate Today Monday 24th August — The naira opened the new week under fresh pressure. As of this morning, the US dollar climbed to ₦1,428 at the parallel market, popularly called the black market or “aboki” rate, marking a noticeable jump from last week’s levels. Meanwhile, the official Central Bank of Nigeria (CBN) rate held much steadier, trading around ₦1,346.49 to the dollar. Consequently, the gap between the two markets widened further, and that spread continues to shape how everyday Nigerians access foreign currency.
Traders across Lagos, Abuja, and Kano reported similar figures throughout the day. According to Aboki Forex, dealers quoted the dollar at roughly ₦1,428 for selling and ₦1,415 for buying, and the rate is updated every hour to reflect real demand. Therefore, anyone converting cash on the street today should expect prices near that range, though slight variations between locations remain common.
The British pound also moved higher against the naira. It traded at ₦1,912 to sell and ₦1,882 to buy in the parallel market, while the CBN official rate stayed lower at ₦1,836.75. Similarly, the euro edged up to ₦1,610 at the black market, against a buy rate of ₦1,558 and an official CBN rate of ₦1,573.11. As a result, both currencies now sit noticeably above their official benchmarks, continuing a pattern that has persisted for weeks.
The Canadian dollar showed comparatively modest movement. It settled at ₦1,004 to sell and ₦996 to buy on the parallel market, with the CBN pegging it at roughly ₦990. Nevertheless, even that smaller currency pair reflects the same underlying trend: black market rates continue to run above official figures across nearly every major currency.
Analysts attribute part of this week’s dollar strength to renewed retail demand. Because school fees, travel plans, and online purchases often cluster around this time of year, more Nigerians have been seeking dollars outside the banking system. Additionally, limited dollar supply through official channels keeps pushing buyers toward street dealers, who then adjust their prices accordingly. However, the naira has still fared far better than it did a year ago, when the dollar exchanged for roughly ₦1,535 — a difference of well over ₦100 in the naira’s favor.
Officials, meanwhile, continue pointing to improved reserves as a stabilizing factor. Nigeria’s foreign reserves recently touched $52.66 billion, and that cushion has helped the official market avoid the sharper swings seen in previous years. Still, the persistent gap between the CBN rate and the street rate suggests that full convergence remains a work in progress.
For anyone planning a currency exchange today, comparing both markets before transacting remains a smart approach. Below is a full breakdown of today’s rates across the currencies most commonly traded in Nigeria.
| Currency | Black Market Buy (₦) | Black Market Sell (₦) | CBN Official Rate (₦) |
|---|---|---|---|
| US Dollar (USD) | 1,415 | 1,428 | 1,346.49 |
| British Pound (GBP) | 1,882 | 1,912 | 1,836.75 |
| Euro (EUR) | 1,558 | 1,610 | 1,573.11 |
| Canadian Dollar (CAD) | 996 | 1,004 | 990.00 |
| Chinese Yuan (CNY) | 205.00 | 212.60 | — |
| South African Rand (ZAR) | 72.00 | 78.00 | — |
| Australian Dollar (AUD) | 800.00 | 900.00 | — |
Rates fluctuate throughout the day, so it’s wise to confirm current figures with a licensed Bureau de Change before completing any transaction. Ultimately, today’s numbers confirm what traders have suspected all week: dollar demand remains strong, and the naira still has ground to cover before the parallel and official markets fully align.
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