The naira remained relatively stable against the United States dollar on Friday, August 14, 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 showed that the official NFEM exchange rate stood at ₦1,364.83 per dollar, maintaining its position as the benchmark rate for official foreign exchange transactions in the country. The CBN explained that the NFEM rate is calculated using a volume-weighted average of completed market transactions.
In the parallel market, popularly known as the black market, the dollar was trading at about ₦1,405 in Lagos and other major cities, according to rates obtained from Bureau de Change operators and open-market dealers.
The difference between the official and parallel market rates stood at approximately ₦40 per dollar. This represents a relatively moderate gap compared with the significantly wider disparities recorded during periods of intense foreign exchange volatility in 2024 and 2025.
Currency dealers said trading opened cautiously, with demand from importers and individuals seeking foreign exchange largely matched by available supplies from exporters, remittances and other autonomous sources.
Recent market data also indicate that the naira has remained within a relatively narrow trading range in recent sessions, with official rates staying around the mid-₦1,360 range while parallel market rates hovered around ₦1,400.
For individuals exchanging foreign currency, $100 at the official NFEM rate would be worth approximately ₦136,483, while the same $100 exchanged at the parallel market rate would yield about ₦140,500.
Analysts said the naira’s performance in the short term would be influenced by foreign exchange inflows, crude oil earnings, diaspora remittances and liquidity management measures by the Central Bank.
They added that continued stability in the official market could help reduce speculative pressure in the parallel market.
As of Friday morning, trading remained relatively calm, with major currency dealers reporting no significant intraday fluctuations.