The naira maintained relative stability against the United States dollar on Friday, August 14, 2026, in both the official Nigerian Foreign Exchange Market and the parallel market, as traders continued to monitor foreign currency liquidity and demand conditions.
According to data published by the Central Bank of Nigeria, the official NFEM exchange rate stood at N1,364.83 per dollar, which remains the benchmark rate used for official foreign exchange transactions in the country.
The CBN noted that the NFEM rate is derived from a volume-weighted average of completed market deals.
In the parallel market, commonly referred to as the black market, the dollar traded around N1,405 per dollar in Lagos and other major cities, based on rates compiled from Bureau de Change and open-market operators.
The spread between the official and parallel market rates was therefore about N40 per dollar, indicating that the gap between both markets has remained relatively moderate compared with the much wider differentials seen during the height of Nigeria’s foreign exchange volatility in 2024 and 2025.
Currency dealers said the market opened with cautious trading, with demand from importers and individuals seeking foreign exchange largely balanced by available supply from exporters, remittances, and other autonomous sources.
Recent market data also suggest that the naira has traded within a fairly narrow band in recent sessions, with official rates hovering around the mid-N1,360 range while parallel market rates have remained near N1,400.
For individuals converting foreign currency, $100 exchanged at the official NFEM rate would yield about N136,483, while the same amount at the parallel market rate would return approximately N140,500.
Analysts said the naira’s near-term direction will depend on foreign exchange inflows, crude oil earnings, diaspora remittances, and the Central Bank’s liquidity management measures.
They added that sustained stability in the official market could help contain speculative pressure in the parallel market.
As of Friday morning, the market remained relatively calm, with no significant intraday swings reported by major currency traders.
