On Tuesday, August 11, 2026, the Nigerian naira held steady against the US dollar within the official foreign exchange market, trading near ₦1,368. The Central Bank of Nigeria’s reference rate stayed consistent, fluctuating between ₦1,360 and ₦1,370.
Official records from the CBN and FMDQ placed the transaction rate at approximately ₦1,368.22, with the market benchmark close to ₦1,368.37. These figures represent minimal change from the preceding session. Meanwhile, the parallel market saw the dollar quoted at ₦1,405, resulting in a difference of roughly ₦37 compared to the official rate.
This current gap suggests that retail market pressure is stable, remaining significantly lower than the volatility observed in 2024 and 2025. The CBN calculates the official rate by using a volume-weighted average of transactions, a practice solidified since the unification of the country’s exchange windows. The FMDQ continues to provide the benchmark data for these official operations.
Market participants noted that demand from manufacturers and importers has remained consistent. Increased foreign exchange liquidity from independent sources has played a key role in maintaining this stability. For those performing transactions, please note that final rates may fluctuate slightly depending on the specific bank, bureau de change, or transfer service utilized.
