The naira traded at about ₦1,368 per US dollar in the official foreign exchange market on Tuesday, August 11, 2026, as the currency remained relatively stable against the dollar.
The latest rate showed limited movement from previous trading sessions, with the official market continuing to operate within the ₦1,360–₦1,370 range.
Official market remains stable
Data from the Central Bank of Nigeria (CBN) and FMDQ indicated an official rate of approximately ₦1,368.22/$, while the broader market benchmark stood around ₦1,368.37/$.
The figures point to relatively calm trading conditions, despite continued demand for foreign currency from businesses and other market participants.
At the parallel market, the dollar was quoted at approximately ₦1,405 on Tuesday.
This put the difference between the official and parallel-market rates at about ₦37 per dollar.
Demand and liquidity influence trading
The relatively narrow gap between both markets suggests that pressure in the retail foreign exchange segment remains moderate.
The current spread is also significantly lower than the wider differentials recorded during periods of intense foreign exchange volatility in 2024 and 2025.
Currency traders said demand from importers and manufacturers remained steady during the latest trading session.
They also attributed the stability in the official market partly to improved foreign exchange liquidity from autonomous sources.
The CBN maintains that the official exchange rate is determined using a volume-weighted average of transactions carried out in the official market.
Following the unification of Nigeria’s exchange-rate windows, the Nigerian Autonomous Foreign Exchange Market (NAFEM) became the key benchmark for official foreign exchange transactions.
FMDQ publishes daily market data used to track activity and pricing in the official foreign exchange market.
However, the rate available to individuals and businesses may differ slightly from the published benchmark.
Factors such as the bank, bureau de change, transfer platform, transaction size and location can affect the final rate offered to customers.