The naira maintained relative stability against the United States dollar on Friday, August 14, 2026, in both the official Nigerian Foreign Exchange Market (NFEM) 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 ₦1,364.83 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 ₦1,405 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 ₦40 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.
