The naira remained relatively stable against the US dollar on Tuesday, August 11, 2026, with the official exchange rate hovering around ₦1,368 per dollar in the Nigerian Foreign Exchange Market (NFEM).
Data from the Central Bank of Nigeria (CBN) and FMDQ showed the NFEM rate at approximately ₦1,368.22/$, while the broader market benchmark stood at about ₦1,368.37 per dollar, indicating only a slight movement from the previous trading session.
In the parallel market, commonly known as the black market, the dollar was quoted at around ₦1,405 on Tuesday.
This placed the difference between the official and parallel-market rates at approximately ₦37 per dollar, suggesting that pressure in the retail foreign exchange market remained moderate.
The current gap is significantly narrower than the wide disparities recorded during periods of heightened volatility in 2024 and 2025.
The CBN has maintained that the NFEM exchange rate is determined using the volume-weighted average of transactions carried out in the official market following the unification of Nigeria’s foreign exchange windows.
FMDQ also continues to publish daily data for the Nigerian Autonomous Foreign Exchange Market (NAFEM), which serves as a benchmark for official dollar transactions.
Currency traders 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 seeking to exchange dollars, the actual rate may vary depending on the bank, bureau de change, transfer platform and location of the transaction.