The naira remained broadly stable against the US dollar on Wednesday, with the official Nigerian Foreign Exchange Market (NFEM) rate trading around the mid-₦1,360 band, while the parallel market held in the low-₦1,400 range.
Central Bank of Nigeria data put the official exchange rate at approximately ₦1,364 per dollar, a figure derived from the volume-weighted average of trades executed on the NFEM platform, and Nigeria's benchmark rate. Currency dealers in Lagos reported the parallel ("black") market trading at roughly ₦1,405 for buying and ₦1,415 for selling on Wednesday morning.
The spread between the official and parallel rates has remained relatively narrow in recent sessions, a contrast to the sharper gaps recorded through 2024 and early 2025. For Nigerians tracking rates for travel, school fees, imports, or international payments, the key levels to watch remain the ₦1,364/$ official window and the ₦1,415/$ parallel rate.