The naira maintained relative stability against the United States dollar on Thursday, August 13, 2026, as foreign exchange traders monitored liquidity conditions and demand across Nigeria’s official and parallel markets.
In the official market, the naira traded around ₦1,367 to the dollar, with the Central Bank of Nigeria’s benchmark rate standing at approximately ₦1,366.73/$1.
The CBN’s Nigerian Foreign Exchange Market platform records a volume-weighted average of transactions and uses the resulting rate as the official exchange rate for the day.
Parallel Market Maintains Premium
The parallel market continued to trade at a significant premium to the official market.
Currency dealers in major Lagos trading centres quoted the dollar at about ₦1,410 for buying and ₦1,425 for selling on Thursday morning, according to market trackers.
That put the gap between the official and parallel markets at roughly ₦58 per dollar when comparing the official benchmark with the parallel selling rate.
The continued premium indicates that demand for foreign currency remains relatively strong outside the formal banking system, despite improvements in liquidity in the official market.
Naira Shows Greater Stability
The naira has shown greater stability in recent weeks compared with the sharp swings witnessed during late 2024 and early 2025.
Historical data from the NFEM indicate that the official exchange rate has generally remained within the ₦1,360–₦1,385 range through much of July and the first part of August, suggesting that volatility has moderated.
The relative stability comes as the CBN continues efforts to improve liquidity and strengthen the functioning of the official foreign exchange market.
For individuals and businesses, the official NFEM rate applies to eligible foreign exchange transactions conducted through banks and authorised dealers. The parallel market, meanwhile, serves cash transactions conducted outside the formal foreign exchange system.
Outlook Remains Range-Bound
Market participants expect the naira to remain within a relatively narrow range in the near term, although several factors could influence its direction.
Traders are watching foreign portfolio inflows, proceeds from Nigeria’s oil exports and the CBN’s continued efforts to increase dollar liquidity in the official market.
A sustained improvement in foreign exchange supply could help narrow the gap between the official and parallel markets, while renewed demand for dollars could put pressure on the naira.
For now, however, the currency remains broadly stable, with the sizeable difference between the two markets continuing to highlight the underlying demand for dollars in Nigeria’s foreign exchange system.