The naira maintained a relatively stable position against the United States dollar in the official foreign exchange market on Thursday, August 6, 2026, while the gap between the Nigerian Foreign Exchange Market (NFEM) and the parallel market remained noticeable.
Data published by the Central Bank of Nigeria showed that the official NFEM rate was around ₦1,362.55 per dollar, compared with ₦1,364.83 recorded earlier this week. The apex bank’s exchange rate window indicates that the naira has continued to trade within the ₦1,360 band in recent sessions.
In the parallel market, also known as the black market, the dollar was being sold at about ₦1,425 and bought around ₦1,410 on Thursday morning, according to market trackers and Bureau de Change quotations.
This puts the spread between the official NFEM rate and the parallel market selling rate at roughly ₦62 per dollar, reflecting the continued premium paid by individuals and businesses sourcing foreign exchange outside the regulated market.
Market analysts said the relative stability in the official window suggests improved liquidity conditions and sustained intervention by monetary authorities, while demand pressure from importers, travelers, and other retail users continues to support higher rates in the informal market.
Recent CBN data show that the NFEM rate is derived from a volume-weighted average of transactions conducted in the official market, making it the benchmark exchange rate for regulated foreign exchange dealings in Nigeria.
For individuals and businesses, the rate that applies depends on the channel through which foreign exchange is purchased, with banks and authorised dealers using the official NFEM rate, while street traders and some Bureau de Change operators transact at parallel market rates.
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