…Naira Trades at ₦1,381.68/$ in Official Market, ₦1,413 at Parallel Market
The Nigerian naira traded at ₦1,381.68 per US dollar at the official Nigerian Foreign Exchange Market (NFEM) on Wednesday, July 22, 2026, as pressure on the local currency persisted across foreign exchange markets.
At the parallel market, commonly referred to as the black market, the dollar exchanged at about ₦1,408/$ for buying and ₦1,413/$ for selling, reflecting a premium over the official market rate.
The latest movement leaves the gap between the official and parallel markets at about ₦31.32 per dollar, highlighting continued differences in foreign exchange supply and demand dynamics despite ongoing reforms by the Central Bank of Nigeria (CBN) aimed at improving market liquidity.
For individuals and businesses seeking to exchange $100, the amount translates to approximately ₦138,168 at the official NFEM rate, while the same amount would exchange for about ₦141,300 at the parallel market selling rate.
The naira-dollar exchange rate remains a key indicator for Nigeria’s economy, with movements affecting import costs, inflation trends, business operating expenses and consumer prices.
The CBN has continued efforts to deepen transparency in the foreign exchange market through the NFEM framework, with official rates determined through market transactions.
Analysts and market participants continue to monitor foreign exchange liquidity, dollar inflows, crude oil receipts, investor activity and demand pressures as major factors influencing the direction of the naira in the coming weeks.
