The naira closed weaker against the US dollar at the Nigerian Foreign Exchange Market (NFEM) on Thursday, 6 August 2026, depreciating by N2.33 — or 0.17 per cent — to settle at N1,364.88 per dollar, against the N1,362.55 recorded at Wednesday’s close. The slide came despite a sharp jump in trading activity, with interbank FX turnover climbing more than 31 per cent to $98.804 million from $75.357 million the previous day. The number of completed deals rose from 82 to 106, signalling broader market participation.
Against the pound sterling, the naira shed a further 71 kobo, settling at N1,838.09 from N1,837.38 on Wednesday. It found partial relief against the euro, however, gaining 45 kobo to close at N1,574.80 per euro, compared with N1,575.25 the day before.
At the GTBank foreign exchange desk, the naira recovered N4 against the dollar to trade at N1,369, down from N1,373 at midweek. The parallel market held firm at N1,400 per dollar, unchanged from the previous session.
Market participants broadly expect the naira to remain relatively stable in the near term. Traders cited increased dollar liquidity as a buffer against demand pressure, and noted that continued dollar sales by the Central Bank of Nigeria (CBN) could help contain sharp exchange-rate swings.
The CBN’s official rates published on Thursday placed the dollar at N1,365.69 — marginally above the N1,364.88 recorded at NAFEM during the trading session. The full list of official rates includes:
Separately, the CBN has confirmed it uncovered foreign exchange infractions among authorised dealers after reviewing 34 financial institutions. The examination covered the period from 1 April 2024 to 31 March 2025, assessing whether banks adhered to FX regulations, directed foreign exchange towards eligible transactions, and properly accounted for fund flows through major sources. The CBN noted that banks were broadly compliant with existing rules, but violations were detected nonetheless.