On Tuesday, August 4, 2026, the naira held steady at approximately ₦1,368 against the U.S. dollar within the official Nigerian Foreign Exchange Market (NFEM). Meanwhile, the informal market saw the dollar trading at levels exceeding ₦1,400.
Official records from the Central Bank of Nigeria indicate the latest volume-weighted rate sits at ₦1,368.22 to the dollar. This market has shown recent consistency, fluctuating primarily between ₦1,362 and ₦1,369. In contrast, Lagos-based traders in the parallel market were purchasing dollars at ₦1,410 while selling them at rates between ₦1,415 and ₦1,425, with figures varying based on the specific location and deal size.
This discrepancy between official and unofficial rates persists at roughly ₦45 to ₦57, suggesting that retail demand for foreign currency continues to outpace availability. Market experts suggest the naira has achieved greater stability recently, aided by enhanced liquidity and the Central Bank’s ongoing efforts to improve market transparency.
For practical context, converting $100 currently yields about ₦136,822 via the official window, whereas the parallel market offers between ₦141,500 and ₦142,500 for the same amount.
