Naira Slips Again as Dollar Hits N1,365 at Official Market, N1,430 on Parallel Market

The Nigerian naira recorded another slight decline against the United States dollar at the official foreign exchange market on Thursday, August 6, 2026, while the currency also weakened further at the parallel market.

Data published by the Central Bank of Nigeria (CBN) showed that the naira traded at an indicative Nigerian Foreign Exchange Market (NFEM) rate of N1,364.8846 per dollar before closing at N1,365.1000/$.

This represents a depreciation of about N1.25 per dollar from the previous day’s closing level of N1,363.8491.

The latest movement indicates that the naira remains under pressure despite the relatively modest day-to-day change at the official market.

The naira recorded a more noticeable movement at the parallel market, with the buying rate remaining unchanged while the selling rate increased by N5 compared with the previous trading session.

According to Aboki FX, the dollar was bought at N1,420 and sold at N1,430 on Thursday.

The widening gap between the official and parallel-market rates remains an important indicator of demand and supply conditions in Nigeria’s foreign exchange market.

At the reported rates, there was a difference of about N65 per dollar between the official closing rate of N1,365.10 and the parallel-market selling rate of N1,430.

Although the official-market decline was relatively small, the continued weakness of the naira highlights the persistent pressure in the foreign exchange market.

For businesses and consumers who rely on imported goods, foreign currency movements can influence the cost of imports, raw materials, transportation and other dollar-linked expenses.

The parallel-market movement is also significant because sustained differences between official and street rates can affect market expectations and the cost at which some businesses source foreign currency.

The naira’s performance in the coming trading sessions will therefore remain closely watched as market participants assess dollar supply, demand and broader foreign-exchange conditions.

Note: The CBN figures referenced above are official market data, while the parallel-market rates are based on rates reported by Aboki FX and may vary by location and dealer.