The Nigerian naira traded at about ₦1,368.22 per US dollar in the official Nigerian Foreign Exchange Market (NFEM) on Tuesday, August 4, 2026, while the dollar sold for above ₦1,400 in the parallel market.
According to data from the Central Bank of Nigeria (CBN), the official exchange rate remained stable, with the naira trading between ₦1,362 and ₦1,369 in recent sessions.
In the parallel market, also known as the black market, traders in Lagos bought the dollar for about ₦1,410 and sold it between ₦1,415 and ₦1,425, depending on the location and size of the transaction.
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This means the gap between the official and parallel market rates remained between ₦45 and ₦57 per dollar, showing that demand for foreign currency in the retail market is still higher than supply.
Financial analysts said the naira has become more stable in recent weeks compared to the sharp fluctuations seen in 2024
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