Nigerian naira (NGN) market outlook and exchange rates

NGN Market Update

13 Aug 2026 • 00:41 GMT

NGN/USD 0.000733

The Nigerian Naira (NGN) remains near recent lows against the US dollar, trading just above 0.000733, its 7-day low and slightly above its 3-month average. Support for the dollar continues amid broad strength driven by US policy expectations and stable growth prospects, which keep USD around recent peaks.

Meanwhile, the NGN's performance against key currencies like the euro and yen remains stable. The NGN-Euro rate is steady near 0.000636, close to its 3-month average, indicating a balanced market. Against the GBP, the Naira is at 0.000543, just below recent highs, with limited volatility observed over the past two weeks. Similarly, the NGN remains near its long-term averages against the CAD and AUD, reflecting a cautious yet stable outlook.

Overall, the NGN/USD remains subdued but within a narrow trading range, influenced by US dollar strength and local economic policies. Market participants should watch for any shifts in USD momentum, especially as US inflation data and Federal Reserve signals could impact the dollar's direction in the coming weeks. The Nigerian economy's focus on reforms and oil sector performance supports a cautiously optimistic outlook for the Naira in the medium term.