The naira remained relatively stable against the United States dollar on Thursday, August 13, 2026, across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, as traders continued to monitor foreign exchange liquidity and demand.
Data from the Central Bank of Nigeria’s NFEM platform put the official exchange rate at around ₦1,367 per dollar, with the CBN benchmark rate quoted at approximately ₦1,366.73/$1. The NFEM rate is a volume-weighted average and serves as the official exchange rate for the day.
In the parallel market, popularly known as the black market, currency dealers in major Lagos trading centres quoted the dollar at approximately ₦1,410 for buying and ₦1,425 for selling as of Thursday morning.
This placed the gap between the official and parallel markets at roughly ₦58 per dollar, indicating continued demand for foreign currency outside the formal banking system despite improved liquidity in the official market.
Analysts noted that the naira has maintained greater stability in recent weeks compared with the significant volatility recorded in late 2024 and early 2025.
Historical NFEM data also showed that the official exchange rate has generally remained within the ₦1,360–₦1,385 range throughout much of July and early August 2026.
For individuals and businesses, the official exchange rate applies to eligible foreign exchange transactions conducted through banks and authorised dealers. The parallel-market rate, meanwhile, applies to cash transactions carried out outside the formal foreign exchange system.
Traders expect the naira to remain within a relatively narrow range in the short term, with market attention focused on foreign portfolio inflows, oil revenues and the Central Bank of Nigeria’s efforts to strengthen liquidity in the official foreign exchange market.