The Nigerian naira remained largely stable against the United States dollar at the official Nigerian Foreign Exchange Market (NFEM) on Tuesday, August 4, 2026, with the Central Bank of Nigeria’s volume-weighted exchange rate closing at ₦1,368.22 per dollar.
Despite the stability at the official window, the dollar continued to trade above ₦1,400 in the parallel market, where traders in Lagos bought the currency at about ₦1,410 and sold it between ₦1,415 and ₦1,425, depending on transaction size and location.
The gap between the official and parallel market rates stood at roughly ₦45 to ₦57 per dollar, reflecting sustained demand for foreign exchange in the retail market.
Analysts attributed the naira’s recent stability to improved foreign exchange liquidity, tighter monetary policies and ongoing Central Bank reforms. Based on Tuesday’s rates, $100 exchanged for about ₦136,822 officially and between ₦141,500 and ₦142,500 in the parallel market.