On Thursday, August 6, 2026, the Nigerian naira remained steady in the official foreign exchange market, though a significant price difference persists between the Nigerian Foreign Exchange Market (NFEM) and the black market.
Figures released by the Central Bank of Nigeria indicate the official NFEM rate stood at approximately ₦1,362.55 per dollar, a slight shift from the ₦1,364.83 observed earlier in the week. The currency has largely held within the ₦1,360 range throughout recent trading sessions.
Conversely, in the parallel market, the dollar traded at roughly ₦1,425 for sellers and ₦1,410 for buyers on Thursday morning, per data from market observers and Bureau de Change operators. This creates a margin of about ₦62 per dollar between the official and informal rates, highlighting the extra cost for those acquiring currency outside regulated channels.
Experts suggest the stability in official pricing reflects better liquidity and ongoing central bank interventions. Meanwhile, consistent demand from importers and retail consumers keeps rates elevated in the informal sector. The NFEM rate, which serves as the official benchmark, is determined by the volume-weighted average of all authorized transactions.
