Naira hits N1,350/$ as reserves rise to $52bn and inflation falls to 15.4%

On August 17, 2026, the naira closed at N1,350 per US dollar at the Nigerian Foreign Exchange Market, its strongest level since April 22 when it ended at N1,348.1/$. The currency gained N8.25 from N1,358.25 on August 14, a rise of about 0.6%, and has appreciated roughly 1.3% from N1,368 at the end of July. Trading ranged between N1,347 and N1,361, with a weighted average of N1,349.54 and interbank turnover of US$437.53 million across 178 deals.

The naira’s strength comes as Nigeria’s headline inflation eased to 15.43% in July, down from 15.91% in June, and external reserves rose to $52.02 billion on July 20—the highest since January 2009 and above the CBN’s 2026 projection of $51.04 billion. A weaker US dollar, driven by softer US economic data, also supported the gain.

For importers, travelers, and those paying foreign school fees, a stronger naira means lower costs. Exporters and remitters receiving dollars may see fewer naira per dollar. With reserves at a record high, the currency may stay stable, but watch CBN policy shifts. Will you adjust your import budget, take advantage of cheaper travel, or hedge against potential drops if you earn in foreign currency?

SOURCE: https://nairametrics.com/2026/08/18/naira-strengthens-to-n1350-strongest-level-since-april/