KEY POINTS

• Naira traded at ₦1,364.83/$1 on Friday, up from ₦1,357.65/$1 on Thursday.
• The parallel-market rate stood around ₦1,405/$1, creating a gap of about ₦40.
• Dollar supply, remittances, exports and import demand remain key factors influencing the naira.

The naira traded at ₦1,364.83 to the US dollar on Friday, August 14, 2026, maintaining relative stability in the official foreign exchange market despite recording a modest decline from the previous session.

The latest exchange rate, published by the Central Bank of Nigeria (CBN), represents the benchmark rate in the Nigerian Foreign Exchange Market (NFEM), where the naira’s value is determined by transactions carried out in the official market.

According to the CBN, the NFEM rate is calculated using the volume-weighted average of completed foreign exchange transactions, making it a key reference point for businesses, investors and individuals seeking to understand the prevailing official value of the naira.

The latest figure suggests that the local currency remains within the mid-₦1,300 range against the dollar, indicating relatively calm trading conditions.

Official Rate Rises From ₦1,357.65/$

The naira had closed at ₦1,357.65/$1 on Thursday, August 13, according to CBN data.

Friday’s rate of ₦1,364.83 represents a depreciation of approximately ₦7.18 against the dollar, equivalent to about 0.53 per cent between the two trading sessions.

Although the movement reflects a slight weakening of the naira, the change remains relatively small and does not indicate a major shift in the currency’s recent trading pattern.

At Friday’s official rate, $100 was equivalent to about ₦136,483, while $1,000 was worth approximately ₦1.365 million.

The official market continued to record a lower dollar price than the parallel market, where the greenback was quoted at around ₦1,405/$1.

This puts the difference between the official and parallel-market rates at approximately ₦40 per dollar.

Despite the gap, the relatively narrow spread suggests that the disparity between the two markets remains contained compared with periods when significant differences between official and parallel rates have placed additional pressure on the naira.

A smaller gap can also indicate that foreign exchange conditions are relatively calmer, although movements in dollar supply and demand can quickly affect the spread.

The naira’s performance continues to be influenced by the balance between the availability of foreign exchange and demand for dollars.

Dollar inflows from exporters, remittances and other sources contribute to foreign exchange liquidity, while demand from importers, businesses and individuals requiring dollars puts pressure on available supply.

The ability of the market to maintain adequate dollar liquidity therefore remains important to the stability of the naira.