The naira traded relatively stable against the United States dollar on Thursday, August 13, 2026, in both the official foreign exchange market and the parallel market, as traders continued to watch liquidity conditions and demand for foreign currency.
Data from the Central Bank of Nigeria’s Nigerian Foreign Exchange Market (NFEM) showed the official exchange rate trading around ₦1,367 per dollar, with the CBN benchmark quoted at approximately ₦1,366.73/$1.
According to the apex bank, the NFEM rate is calculated as a volume-weighted average and serves as the official exchange rate for the day.
In the parallel market, also known as the black market, currency dealers in major Lagos trading centres quoted the dollar at about ₦1,410 for buying and ₦1,425 for selling on Thursday morning.
The street rate therefore remained at a premium to the official market, with the gap between both markets standing at roughly ₦58 per dollar.
Analysts said the difference reflects continued demand for foreign currency outside the formal banking system, despite recent improvements in liquidity in the official market.
Market observers noted that the naira has been relatively more stable in recent weeks compared with the sharp volatility seen in late 2024 and early 2025.
Historical NFEM data show that the official exchange rate has largely traded within the ₦1,360 to ₦1,385 range through much of July and early August 2026.
For individuals and businesses, the official rate applies to eligible transactions processed through banks and authorised dealers, while the parallel market rate is commonly used for cash transactions conducted outside the official foreign exchange window.
Traders expect the naira to remain range-bound in the near term, with attention focused on foreign portfolio inflows, oil revenue receipts and the Central Bank’s efforts to improve liquidity in the official foreign exchange market.
