Naira value against the US Dollar as of August 14, 2026

The naira experienced a relatively stable day on Friday, August 14, 2026, with its value against the United States dollar holding steady in both the official Nigerian Foreign Exchange Market and the parallel market, as market participants closely watched liquidity and demand levels.

n

According to the Central Bank of Nigeria's published data, the official NFEM exchange rate was ₦1,364.83 per dollar, serving as the standard rate for official foreign exchange transactions in the country, calculated from a volume-weighted average of completed market deals.

n

In the parallel market, also known as the black market, the dollar was trading at approximately ₦1,405 per dollar in major cities like Lagos, based on rates gathered from Bureau de Change and open-market operators.

n

The difference between the official and parallel market rates was around ₦40 per dollar, indicating a moderate gap between the two markets, relatively narrow compared to the wider differentials seen in 2024 and 2025 during Nigeria's foreign exchange volatility.

n

Currency traders reported that the market started the day with cautious trading, as demand from importers and individuals seeking foreign exchange was largely matched by available supply from exporters, remittances, and other autonomous sources.

n

Recent market data shows that the naira has been trading within a relatively narrow range in recent sessions, with official rates hovering around the mid-₦1,360 range and parallel market rates remaining near ₦1,400.

n

For individuals exchanging foreign currency, $100 at the official NFEM rate would yield approximately ₦136,483, while the same amount at the parallel market rate would return around ₦140,500.

n

Analysts believe that the naira's short-term direction will be influenced by foreign exchange inflows, crude oil earnings, diaspora remittances, and the Central Bank's liquidity management measures.

n

They also noted that sustained stability in the official market could help reduce speculative pressure in the parallel market, promoting a more stable currency environment.

n

As of Friday morning, the market remained relatively calm, with no significant intraday price swings reported by major currency traders.