The Nigerian naira traded largely stable against the United States dollar on Friday, July 10, 2026, across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, as traders monitored foreign exchange liquidity and market demand.
According to data from the Nigerian Foreign Exchange Market (NFEM), the official exchange rate stood at ₦1,375.94 per US dollar as of July 10, 2026.
In the parallel market, commonly referred to as the black market, the dollar traded at approximately ₦1,410 for buying and ₦1,425 for selling, although rates varied slightly across locations and dealers.
The gap between the official NFEM rate and the parallel market rate highlights persistent demand for foreign currency outside the formal market, despite the naira remaining relatively stable in recent trading sessions.
Analysts say the naira’s near-term performance will continue to depend on the level of foreign exchange inflows, liquidity in the official market, and demand from importers, manufacturers, and other businesses requiring US dollars.
The Central Bank of Nigeria (CBN) continues to recognise the NFEM rate as the country’s official benchmark exchange rate, while exchange rates in the parallel market are determined by prevailing demand and supply among informal currency traders.
