The naira remained relatively stable against the United States dollar on Thursday, August 13, 2026, as traders continued to monitor foreign exchange liquidity and demand pressures in both the official and parallel markets.
Data from the Central Bank of Nigeria’s Nigerian Foreign Exchange Market (NFEM) platform showed the official exchange rate at around ₦1,367 per dollar, with the CBN benchmark rate quoted at approximately ₦1,366.73/$1.
The apex bank describes the NFEM rate as a volume-weighted average that serves as the official exchange rate for the day.
In the parallel market, commonly known as the black market, currency dealers in major Lagos trading hubs quoted the dollar at about ₦1,410 for buying and ₦1,425 for selling on Thursday morning.
The parallel-market rate therefore remained above the official rate, with a gap of about ₦58 per dollar between the official rate and the parallel-market selling price.
The persistent spread reflects continued demand for foreign currency outside the formal banking system, despite improvements in liquidity in the official market.
The naira has traded relatively steadily in recent weeks compared with the sharp volatility recorded in late 2024 and early 2025. Historical NFEM data indicate that the official exchange rate has largely remained within the ₦1,360–₦1,385 range through much of July and early August 2026.
For individuals and businesses, the official NFEM rate applies to eligible foreign exchange transactions conducted through banks and authorised dealers, while parallel-market rates apply to transactions conducted outside the formal foreign exchange system.
Market participants expect the naira to remain range-bound in the near term, with attention focused on foreign portfolio inflows, oil receipts, dollar liquidity and the Central Bank’s efforts to strengthen liquidity in the official foreign exchange market.
