- Naira to Dollar Exchange Rate Today, August 7, 2026
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Black market dollar sold at about ₦1,425 on Friday.
- CBN interventions continue supporting exchange rate stability.
The Nigerian naira remained relatively stable against the United States dollar on Friday, August 7, 2026, across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, as traders continued to monitor foreign exchange liquidity and Central Bank of Nigeria (CBN) interventions.
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EKO HOT BLOG reports that at the official market, the naira traded at approximately ₦1,364.27 per US dollar, according to available market data. The rate reflects only a slight movement from the previous trading session, indicating continued stability in the official foreign exchange market.
| Market | Buying Rate | Selling Rate |
|---|---|---|
| Official (NFEM) | ₦1,364.27/$ | ₦1,364.27/$ |
| Parallel Market (Black Market) | ₦1,410/$ | ₦1,425/$ |
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In the parallel market, also known as the black market, the dollar exchanged at an average of ₦1,410 per dollar for buying and ₦1,425 per dollar for selling, although rates may vary slightly across locations and dealers.
Currency traders attributed the relatively stable exchange rate to sustained interventions by the Central Bank of Nigeria, which have helped improve liquidity in the official market and narrow the gap between official and parallel market rates. Reuters also reported that the naira is expected to remain largely stable in the near term due to continued CBN support.
Exchange rates are subject to change during the trading day depending on market demand, supply and location. Individuals and businesses are advised to confirm prevailing rates with their banks or licensed foreign exchange dealers before carrying out transactions.
