The Nigerian naira traded at around ₦1,367 to the US dollar on Thursday, August 13, 2026, as the local currency maintained relative stability across the official and parallel foreign exchange markets.
Data from the Central Bank of Nigeria’s Nigerian Foreign Exchange Market (NFEM) platform put the benchmark exchange rate at approximately ₦1,366.73/$1 on Thursday.
The NFEM rate represents the volume-weighted average of eligible transactions conducted in the official foreign exchange market and serves as the recognised daily benchmark for the naira.
In the parallel market, the dollar continued to command a higher rate, with currency dealers in major trading centres in Lagos quoting the greenback at around ₦1,410 for buying and ₦1,425 for selling.
Based on the reported figures, the parallel market selling rate was approximately ₦58.27 higher per dollar than the official NFEM rate.
The gap indicates that demand for foreign currency remains elevated outside the formal banking system despite improved liquidity in the official market.
The naira’s latest performance continues the relatively stable trend recorded in recent weeks, with official NFEM rates generally remaining within the ₦1,360 to ₦1,385/$1 range through much of July and early August.
This represents a significant change from the sharp fluctuations experienced during periods of heightened foreign exchange volatility in late 2024 and early 2025.
For individuals and businesses conducting eligible transactions through banks and authorised foreign exchange dealers, the official NFEM rate remains the applicable benchmark.
Meanwhile, the parallel market rate reflects prices for foreign currency traded outside the formal foreign exchange system.
What could affect the naira?
Market participants are expected to continue monitoring dollar supply and demand, foreign portfolio inflows and crude oil earnings as they assess the direction of the naira.
The Central Bank of Nigeria’s efforts to improve foreign exchange liquidity and strengthen the functioning of the official market could also influence the currency’s performance in the coming days.
For now, the naira appears to be maintaining a relatively narrow trading range, although changes in dollar availability or demand could affect the exchange rate.
For today’s reported rates, the official benchmark is ₦1,366.73/$1, while the parallel market selling rate is around ₦1,425/$1.
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