The naira traded at ₦1,382.33 against the United States dollar at the official Nigerian Foreign Exchange Market (NFEM), a slight depreciation from the ₦1,379.62 recorded on July 10, 2026.
The latest exchange rate suggests the local currency has remained relatively stable in recent trading sessions despite marginal fluctuations in the official foreign exchange market.
Data published on Monday by the Central Bank of Nigeria’s Nigerian Foreign Exchange Market (NFEM) platform showed that the official exchange rate weakened by ₦2.71 from the previous trading session, reflecting a marginal movement in the market.
At the parallel market, the dollar traded at about ₦1,425 for selling and ₦1,410 for buying, although rates varied across locations and dealers.
The gap between the official and parallel market rates persists as demand for foreign exchange outside the banking system remains strong, with many businesses and individuals relying on the informal market.
Market participants will continue to monitor foreign exchange liquidity, crude oil earnings, external reserves and the CBN’s monetary and foreign exchange policies for clues on the naira’s direction in the coming trading sessions.