The naira opened the week relatively stable against the United States dollar on Monday, August 10, 2026, with the currency trading around ₦1,362.55 per dollar in the official Nigerian Foreign Exchange Market (NFEM).
The official rate, based on data attributed to the Central Bank of Nigeria (CBN), remains the benchmark for transactions in the formal foreign exchange market. The CBN says the NFEM rate is derived from the volume-weighted average of transactions concluded during each trading session.
In the parallel market, the dollar was quoted at about ₦1,425 for selling and ₦1,410 for buying, according to market reports from Lagos and other major trading centres.
The difference between the official NFEM rate and the parallel-market selling rate stood at approximately ₦62 per dollar.
The naira’s relative stability comes amid continued monitoring of foreign-exchange liquidity and CBN interventions. Reuters reported last week that the currency was trading around ₦1,360 per dollar in the official market and ₦1,425 in street trading, with dealers expecting the naira to remain broadly stable. (Reuters)
The official market has recently remained within a relatively narrow range around the ₦1,360–₦1,364-per-dollar level, while the parallel market has held around ₦1,425.
For individuals and businesses exchanging dollars, actual rates may vary depending on the bank or Bureau de Change, transaction size, location and other market conditions. The NFEM rate applies to transactions conducted through authorised dealers in the formal market, while parallel-market rates reflect transactions outside the official window.
