The Nigerian naira traded at approximately ₦1,381.68 against the United States dollar at the Nigerian Foreign Exchange Market (NFEM) on Wednesday, July 22, 2026, according to official market data.
The official market opened with the naira quoted at ₦1,381.68/$, reflecting the prevailing exchange rate at the start of trading.
In the parallel market, commonly known as the black market, the dollar traded at about ₦1,408/$ for buying and ₦1,413/$ for selling, although rates varied slightly depending on location, dealer and transaction size.
At the prevailing rates, $100 was worth about ₦138,168 in the official market and approximately ₦141,300 at the parallel market’s selling rate.
The gap between the official and parallel market rates continued to reflect prevailing demand and supply conditions in Nigeria’s foreign exchange market. The Central Bank of Nigeria (CBN) has sustained reforms aimed at improving foreign exchange liquidity and narrowing the spread between the official and parallel markets, although the latter continues to trade at a premium.
Both the official and parallel market exchange rates remain subject to change during the trading day, depending on market conditions, liquidity levels and transaction volumes.
