The Nigerian naira posted mixed performance against the United States dollar across the official Nigerian Foreign Exchange Market (NFEM) and the parallel market on Wednesday, July 15, 2026, as traders continued to monitor foreign exchange liquidity and demand.
At the official market, the naira closed at an indicative exchange rate of approximately ₦1,382 per US dollar, according to data from the Central Bank of Nigeria (CBN). This represented a slight depreciation from the previous session’s closing rate of about ₦1,380.50/$, indicating a modest weakening of the local currency at the NFEM.
In the parallel market, commonly referred to as the black market, the naira appreciated to around ₦1,412 per dollar from approximately ₦1,420/$ recorded a day earlier. The gain reduced the gap between the official and parallel market exchange rates to roughly ₦30 per dollar.
Trading activity also picked up at the official foreign exchange window, with interbank turnover increasing significantly from the previous session, suggesting improved market participation and stronger trading volumes.
The Central Bank of Nigeria maintains that the NFEM exchange rate is determined using a volume-weighted average of completed transactions, making it the country’s official benchmark exchange rate.
Market analysts say the naira’s near-term performance will largely depend on the level of foreign exchange inflows, market liquidity, demand from importers and manufacturers, and the continued implementation of monetary and fiscal policies aimed at enhancing stability in the foreign exchange market.
