The naira traded at around ₦1,368 to the US dollar in the official Nigerian Foreign Exchange Market (NFEM) on Tuesday, August 11, 2026, as the Central Bank of Nigeria’s reference rate remained within the ₦1,360–₦1,370 range.
Data from the Central Bank of Nigeria (CBN) and FMDQ showed the NFEM rate at approximately ₦1,368.22 per dollar, while the broader market benchmark stood at about ₦1,368.37/$, indicating minimal movement from the previous trading session.
At the parallel market, commonly known as the black market, the dollar was quoted at around ₦1,405 on Tuesday. This put the gap between the official and parallel-market rates at roughly ₦37 per dollar.
The relatively narrow spread suggests that pressure in Nigeria’s retail foreign-exchange market remains moderate, with the premium significantly below the wide differentials recorded during periods of heightened volatility in 2024 and 2025.
The CBN says the NFEM exchange rate is determined using a volume-weighted average of transactions carried out in the official market, following the unification of Nigeria’s multiple exchange-rate windows. FMDQ publishes daily market data for the Nigerian Autonomous Foreign Exchange Market (NAFEM), which serves as a key benchmark for official foreign-exchange transactions.
Market participants said demand from importers and manufacturers remained steady, while improved foreign-exchange liquidity from autonomous sources helped support stability in the official market.
For individuals and businesses, the actual exchange rate available may vary depending on the bank, bureau de change, money-transfer platform, transaction size, and location.
