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 exchange rate, published by the Central Bank of Nigeria (CBN), represents the official Nigerian Foreign Exchange Market (NFEM) benchmark for the day.
According to the CBN, the NFEM rate is determined using the volume-weighted average of completed transactions carried out in the market.
At the prevailing official rate, $100 exchanged for approximately ₦136,483, while $1,000 was valued at about ₦1.365 million.
The latest figure represents a slight depreciation of the naira compared with Thursday’s rate of ₦1,357.65/$1. The currency weakened by ₦7.18 per dollar, representing approximately 0.53 per cent between the two trading sessions.
The naira’s movement continues to place the official exchange rate within the mid-₦1,300 range, reflecting relatively calm conditions in the foreign exchange market.
Meanwhile, in the parallel market, the dollar was quoted at around ₦1,405, creating a difference of approximately ₦40 per dollar between the official and parallel-market rates.
The relatively narrow gap between the two rates suggests a more stable foreign exchange environment, although market conditions remain influenced by the availability of dollars and the level of demand.
Foreign exchange inflows from exporters, remittances and other sources continue to contribute to dollar supply, while demand from importers, businesses and individuals requiring foreign currency remains a major factor affecting the naira’s performance.
Market participants will continue to monitor dollar supply, demand and other foreign exchange developments as these factors determine the direction of the naira in the coming sessions.
