The naira exchanged at about ₦1,364 to the US dollar at the official market on Wednesday, August 12, 2026, while the parallel market recorded a selling rate of around ₦1,415/$.
The latest figures indicate that the local currency continued to trade within a relatively stable range despite ongoing demand for foreign exchange.
Information from the Central Bank of Nigeria showed the official Nigerian Foreign Exchange Market rate at approximately ₦1,364 per dollar.
Parallel market records higher dollar rate
Outside the official market, foreign exchange dealers in Lagos quoted the dollar at about ₦1,405 when buying and ₦1,415 when selling.
The difference between the two markets remained relatively limited compared with the wide disparities witnessed during periods of severe pressure on the naira.
Recent street-market quotations have generally remained around the ₦1,400 level, with some dealers placing the dollar close to ₦1,410.
At ₦1,364 per dollar, Nigerians buying $100 through the official market would require approximately ₦136,400.
Similarly, $1,000 would cost about ₦1.364 million at the official rate.
Using the parallel-market selling rate of ₦1,415, $100 would cost approximately ₦141,500, while $1,000 would require about ₦1.415 million.
Market conditions remain relatively calm
The recent stability has been linked to improved foreign exchange liquidity and the Central Bank of Nigeria’s management of dollar supply.
Moderate demand from importers has also helped prevent significant pressure on the naira, according to market participants.
Traders cited by Reuters expect the currency to maintain its relatively steady position in the short term.
The expectation is partly based on continued activity by the CBN and measures aimed at reducing excessive demand for foreign currency.
Naira remains within narrow trading range
Recent official-market transactions have largely remained within the ₦1,360 range.
Data monitored by Proshare showed the official rate moving between approximately ₦1,362 and ₦1,370 per dollar in recent sessions.
The figures suggest that the naira has maintained a fairly narrow trading band after recent movements in the foreign exchange market.
For Nigerians seeking dollars for international travel, education, imports and other payments, the rates to monitor today are approximately ₦1,364/$ at the official market and ₦1,415/$ at the parallel market.
