Nigerian Naira Swings Between Official and Black Market Rates

The Nigerian naira showed modest appreciation at the Central Bank of Nigeria (CBN) official window, trading at about N1,362 per U.S. dollar on August 4, 2026, after closing at N1,361 the previous day. Data released on the FMDQ Security Exchange platform confirmed the official rate of N1,362.5542 per dollar.

In the parallel (black) market, rates were higher. Aboki FX reported buying and selling rates of N1,415 and N1,425 per dollar respectively on August 4, while Bureau De Change sources cited a black‑market range of N1,410–N1,425 on August 5. The CBN does not recognise the black market and advises transactions be conducted through banks.