Naira stabilizes at N1,367/$ as CBN intervention curbs dollar demand

Central bank measures keep the Nigerian currency steady in the NFEM, offering a brief respite from recent volatility for importers and investors.

By Handelsavisen Newsroom · Automated 7 August 2026, 07:47 UTC · 1 min read

The Nigerian naira maintained its ground against the US dollar on Thursday, trading at N1,367 per dollar in the Nigerian Foreign Exchange Market (NFEM).

This stability marks a continuation of the central bank’s efforts to manage liquidity and curb speculative demand for foreign currency.

The Central Bank of Nigeria (CBN) has kept the dollar in check through targeted interventions, preventing a sharper depreciation that had been feared by market participants.

The official exchange rate has hovered around the N1,370 level, providing a degree of predictability for businesses reliant on imports.

This steadiness comes as the greenback remains strong globally, putting pressure on emerging market currencies.

However, the CBN’s ability to maintain the naira’s value suggests that foreign exchange reserves are being deployed effectively to meet immediate market needs.