Nigeria’s naira remained relatively stable against the US dollar on Wednesday, August 12, 2026, as official-market trading stayed around ₦1,364 to the dollar while parallel-market rates hovered near ₦1,415.
The stability offers some relief to businesses, travellers, students and importers across Africa’s largest economy, following periods of significant currency volatility in recent years.
Data from Nigeria’s official foreign-exchange market showed the dollar trading at approximately ₦1,364, with only marginal movement compared with recent sessions. The rate serves as the country’s benchmark for official foreign-exchange transactions.
On the parallel market, currency dealers quoted the dollar at about ₦1,405 for buying and ₦1,415 for selling. The relatively narrow gap between the official and street markets indicates that the naira has continued to consolidate within a tighter range.
At the official rate, $100 was equivalent to roughly ₦136,400, while $1,000 exchanged for about ₦1.364 million. At the parallel-market selling rate, the same amounts were valued at approximately ₦141,500 and ₦1.415 million respectively.
Market participants attributed the naira’s recent stability to improved foreign-exchange liquidity and continued intervention and management by the Central Bank of Nigeria. Moderate demand from importers and other dollar-dependent businesses has also helped reduce pressure on the local currency.
Recent market data showed the official exchange rate trading mostly between ₦1,362 and ₦1,370 per dollar, reinforcing the view that the naira has entered a period of relative consolidation.
For Nigerians and Africans with financial interests linked to Nigeria, the exchange rate remains important for international travel, education, imports, remittances and cross-border payments. The key rates to watch on Wednesday are approximately ₦1,364 per dollar in the official market and ₦1,415 in the parallel market.
The naira’s ability to maintain this stability in the coming weeks will depend largely on foreign-exchange supply, dollar demand, monetary policy and broader developments in Nigeria’s economy.
