The naira remained broadly stable against the United States dollar on Wednesday, August 12, 2026, with the official exchange rate hovering around ₦1,364 per dollar and the parallel market trading in the ₦1,400 range.
Data from the Central Bank of Nigeria’s Nigerian Foreign Exchange Market (NFEM) showed the naira trading at about ₦1,364 to the dollar, reflecting only marginal movement in recent sessions. The NFEM rate, derived from the volume-weighted average of transactions conducted on the official market, serves as Nigeria’s benchmark exchange rate.
In the parallel market, currency dealers in Lagos quoted the dollar at about ₦1,405 for buying and ₦1,415 for selling on Wednesday morning. The relatively narrow gap between the official and parallel-market rates contrasts with the wider disparities recorded during periods of heightened foreign-exchange volatility in 2024 and early 2025.
At the official rate of ₦1,364/$, $100 was worth approximately ₦136,400, while $1,000 exchanged for about ₦1.364 million. At the parallel-market selling rate of ₦1,415/$, the same amounts were worth approximately ₦141,500 and ₦1.415 million, respectively.
The naira’s recent stability has been supported by improved foreign-exchange liquidity and continued intervention by the Central Bank of Nigeria. Market participants have also pointed to relatively moderate dollar demand as a factor helping the currency remain within a narrow trading range.
Reuters recently reported that the naira was expected to remain broadly stable in the near term, supported by CBN dollar interventions. The report put the official rate at around ₦1,360 per dollar and the street rate at about ₦1,425.
The stability marks a significant shift from the sharp volatility witnessed in previous years. A Q1 2026 market report by FCSL noted that the naira traded within a relatively tight ₦1,340–₦1,430 range in the official market during the quarter, while the gap between the official and parallel markets narrowed considerably.
For Nigerians monitoring exchange rates for travel, school fees, imports and international payments, the key rates to watch on Wednesday are approximately ₦1,364/$ at the official NFEM window and ₦1,415/$ in the parallel market.
