The naira remained relatively stable at the start of trading on Wednesday, August 5, 2026, with the official exchange rate hovering around ₦1,362.55 per dollar at the Nigerian Foreign Exchange Market (NFEM).
Figures released by the Central Bank of Nigeria (CBN) showed that the official market closed on August 4 at ₦1,362.55/$1, with intraday trading ranging between ₦1,361 and ₦1,364.70. The NFEM rate is based on a volume-weighted average and serves as Nigeria’s official exchange rate benchmark.
In the parallel market, also known as the black market, the dollar was quoted at about ₦1,415/$1 on Wednesday, according to AbokiFX updates. This places the gap between the official and parallel market rates at roughly ₦52 per dollar.
Street-market checks showed that some dealers were buying dollars around ₦1,410 and selling close to ₦1,425, indicating that rates continue to vary across Lagos and other major trading centres depending on transaction size and location.
Analysts said the naira has remained largely range-bound in recent trading sessions, supported by continued CBN interventions and improved liquidity in the official market.
Reuters also reported that Nigeria’s currency has been trading within a relatively narrow band despite ongoing demand for foreign exchange from importers and other dollar users.
Compared with earlier levels in July, the official exchange rate has stayed close to the ₦1,360–₦1,365 range, while the parallel market has fluctuated between ₦1,405 and ₦1,425.
For individuals and businesses carrying out dollar transactions today, the indicative rates are approximately ₦1,362.55/$1 at the NFEM and ₦1,415/$1 in the parallel market, although actual buying and selling prices may differ slightly among banks, bureaux de change and street dealers.
