- Naira Trades at ₦1,382/$ Officially, Strengthens to ₦1,412 in Parallel Market
The Nigerian naira recorded mixed performance against the United States dollar on Wednesday, July 15, 2026, as movements in both the official and parallel foreign exchange markets reflected evolving liquidity conditions and market demand.
At the Nigerian Foreign Exchange Market (NFEM), the naira traded at an indicative exchange rate of approximately ₦1,382 per US dollar, according to data from the Central Bank of Nigeria (CBN).
The latest rate represents a slight depreciation from the previous trading session, when the local currency closed at around ₦1,380.50/$.
Meanwhile, the parallel market recorded an improvement in the naira’s value, with the exchange rate strengthening to approximately ₦1,412 per dollar, compared with about ₦1,420/$ traded a day earlier. The development reduced the spread between the official and unofficial markets to roughly ₦30 per dollar.
Trading activity also picked up at the official market, as interbank turnover increased from the previous session, signalling stronger participation and improved liquidity in the foreign exchange market.
The CBN continues to maintain that the NFEM rate is determined through a volume-weighted average of completed foreign exchange transactions, making it Nigeria’s official benchmark exchange rate.
Market analysts say the naira’s short-term trajectory will largely depend on the pace of foreign exchange inflows, liquidity across the market, import-related demand, and the effectiveness of ongoing monetary and fiscal measures aimed at sustaining exchange rate stability.
