Headline: Naira Steadies at ₦1,362/$ as Black Market Premium Hits ₦52 – August 5, 2026
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The naira opened the trading day relatively flat at ₦1,362.55 per dollar in the official market, while the parallel market quoted ₦1,415/$1, widening the gap to ₦52 as demand for foreign currency remains elevated despite central bank efforts.
Data from the Central Bank of Nigeria showed the official NFEM rate closed at ₦1,362.55/$1 on August 4, with intraday trading ranging between ₦1,361 and ₦1,364.70 — a sign of continued stability in the regulated window.
However, in the parallel market, street dealers were buying dollars around ₦1,410 and selling near ₦1,425, according to AbokiFX and other market trackers. The ₦52 spread between both markets underscores persistent dollar scarcity in the informal economy, even as the official window enjoys improved liquidity.
Market analysts noted that the naira has remained range-bound in recent sessions, supported by sustained Central Bank interventions. Reuters confirmed that Nigeria’s currency has traded within a narrow band despite steady demand from importers and other dollar users.
Compared to earlier July levels, the official rate has hovered around ₦1,360–₦1,365, while the parallel market has fluctuated between ₦1,405 and ₦1,425.
For individuals and businesses transacting today:
· Official (NFEM) rate: ₦1,362.55/$1
· Parallel (black market) rate: ≈ ₦1,415/$1
· Buy/Sell ranges: ₦1,410 – ₦1,425 depending on location and volume
Rates may vary slightly across Lagos, Abuja, and other major hubs based on transaction size and dealer margins.
