Dollar to Naira exchange rate today, August 5, 2026

The Nigerian naira has maintained a relatively stable position against the U.S. dollar in the official foreign exchange market, trading around ₦1,362.55 per dollar as of August 5, 2026. Data from the Central Bank of Nigeria indicates that the official exchange rate closed at ₦1,362.55/$1 on August 4, with intraday fluctuations occurring between ₦1,361 and ₦1,364.70. This official rate is determined by a volume-weighted average, serving as the country's benchmark.

In contrast, the parallel market, often referred to as the black market, presents a different picture. Here, the dollar is being quoted at approximately ₦1,415 per dollar, according to market updates. This creates a notable gap of around ₦52 between the official and parallel market rates, suggesting that demand for foreign currency in the informal sector continues to outstrip supply, despite the calm observed in the official window.

Market trackers indicate that rates can vary across different trading hubs, with dealers buying dollars around ₦1,410 and selling near ₦1,425. These variations depend on factors such as transaction size and location.

Market analysts suggest that the naira's recent performance, characterized by a broadly range-bound movement, is supported by consistent interventions from the central bank. Improved liquidity in the official market also plays a crucial role in stabilizing the currency. Reuters reported that the Nigerian currency has been trading within a relatively narrow band, even as demand from importers and other dollar-dependent businesses persists.

Compared to earlier in July, the official exchange rate has remained close to the ₦1,360–₦1,365 range, while the parallel market has seen fluctuations around ₦1,405–₦1,425. For individuals and businesses conducting dollar transactions, the applicable rates are approximately ₦1,362.55/$1 at the official market and ₦1,415/$1 in the parallel market, with actual buy and sell prices varying slightly among different financial institutions and dealers.