The naira traded around ₦1,368 to the US dollar at the official Nigerian Foreign Exchange Market (NFEM) on Tuesday, August 4, 2026, while the parallel market continued to quote the dollar above ₦1,400.
Data from the Central Bank of Nigeria’s exchange-rate portal showed the latest NFEM volume-weighted rate at approximately ₦1,368.22/$1. The official market has remained relatively stable in recent sessions, trading within a narrow range of about ₦1,362 to ₦1,369 per dollar.
In the parallel market, commonly known as the black market or Aboki market, traders in Lagos were buying the dollar for roughly ₦1,410 and selling it for between ₦1,415 and ₦1,425 on Tuesday morning. Rates varied depending on location and transaction size, with recent market trackers showing quotes within a similar range.
The difference between the official and parallel-market rates stood at approximately ₦45 to ₦57 per dollar. The spread suggests that demand for foreign currency in the retail market remains stronger than available supply, despite the relative stability in the official FX window.
The naira has been considerably more stable in recent weeks than during the sharp volatility experienced in 2024 and early 2025. Analysts have attributed the improved stability to stronger foreign-exchange liquidity, tighter monetary conditions, and ongoing reforms by the CBN aimed at improving transparency and efficiency in the FX market. Recent data indicate that the official exchange rate has remained around the mid-₦1,360 range over several trading sessions.
For Nigerians looking to convert dollars today, $100 would be worth approximately ₦136,822 at the official NFEM rate. In the parallel market, the same $100 would fetch about ₦141,500 to ₦142,500.
The Central Bank of Nigeria says the NFEM rate is calculated as a volume-weighted average of completed foreign-exchange transactions and serves as the country’s official exchange-rate benchmark.
