The naira maintained relative stability against the United States dollar on Friday, with both the official and parallel markets showing little movement from recent sessions

Data released by the Central Bank of Nigeria showed the official Nigerian Foreign Exchange Market, NFEM, rate closed at ₦1,364.83 to the dollar. The rate remains the benchmark for official foreign exchange transactions across banks and other CBN-licensed channels.

In the parallel market, also known as the black market, the dollar traded at around ₦1,405 in Lagos and other major trading hubs, according to rates compiled from Bureau de Change operators and open-market dealers.

Market watchers note that the naira has held within a narrow band over the past few sessions. Official rates have hovered around the mid-₦1,360 level, while parallel-market rates have stayed close to the ₦1,400 mark.

The relative calm comes amid continued CBN efforts to unify rates and boost dollar liquidity in the official window. Analysts say the small gap of about ₦40 between the official and parallel rates suggests reduced pressure compared to the wider spreads seen earlier in the year.

Traders in Lagos and Abuja told our correspondent that demand was moderate on Friday, with most activity centered on personal and business transactions rather than speculative buying.

The CBN is expected to continue publishing daily NFEM rates as it pushes for greater transparency in the foreign exchange market.