The naira remained relatively stable against the United States dollar across both the official and parallel foreign exchange markets as traders monitored liquidity conditions and demand pressures.
At the Nigerian Foreign Exchange Market (NFEM), the official exchange rate stood at about ₦1,368.22 per dollar, according to figures published by the Central Bank of Nigeria and market data aggregators. The rate is derived from the volume-weighted average of completed transactions in the official market.
The latest available CBN exchange-rate data also shows the official market trading within a narrow band around the ₦1,36x range in recent sessions, indicating limited volatility in the formal market.
In the parallel market, commonly referred to as the black market, the dollar traded at around ₦1,405 per dollar on Friday, reflecting a premium of roughly ₦37 above the official NFEM rate.
The gap between the two markets remains significantly lower than the wide disparities recorded in 2024 and parts of 2025, suggesting some improvement in price convergence following ongoing foreign-exchange reforms.
Currency dealers said demand from importers, travellers, and other retail users continued to support the parallel-market rate, while supply from exporters and autonomous sources helped keep the official market relatively stable.
Analysts noted that movements in external reserves, foreign portfolio inflows, and crude-oil receipts will remain key factors influencing the naira in the coming sessions.
For individuals exchanging small amounts, the parallel market may offer quicker access to cash dollars, while businesses with approved documentation are expected to source foreign exchange through the official banking and NFEM channels.
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