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.
The rate, published by the Central Bank of Nigeria, represents the benchmark rate for transactions in the Nigerian Foreign Exchange Market.
According to the CBN, the NFEM rate is calculated using the volume-weighted average of completed transactions in the market.
At Friday’s official rate, $100 was worth approximately ₦136,483, while $1,000 exchanged for about ₦1.365 million.
The latest rate represents a slight weakening from Thursday’s ₦1,357.65/$1, according to CBN data.
The naira lost approximately ₦7.18 against the dollar between the two sessions, representing a decline of about 0.53 per cent.
In the parallel market, the dollar was quoted at around ₦1,405, putting the gap between the official and parallel-market rates at approximately ₦40 per dollar.
The relatively narrow spread reflects calmer conditions in the foreign exchange market, although dollar supply and demand continue to influence movements in the naira.
Foreign exchange inflows from exporters, remittances and other sources, as well as demand from importers and individuals seeking dollars, remain key factors shaping the currency market.
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