The Nigerian naira traded relatively steadily against the United States dollar on the official Nigerian Foreign Exchange Market (NFEM) on Tuesday, July 14, 2026, while the parallel market continued to quote the dollar at a higher rate.
Data from the Central Bank of Nigeria’s exchange rate portal showed the official NFEM rate stood at about ₦1,379.62 to the dollar, based on the latest available trading information. The market recorded an intraday high of ₦1,382.00 and a low of ₦1,375.00, indicating limited movement during the trading session.
In the parallel market, also known as the black market, Bureau de Change operators and street traders quoted the dollar at approximately ₦1,410, with buying rates around ₦1,400. This represents a premium of about ₦30 compared with the official exchange rate.
The difference between the official and parallel market rates has remained relatively narrow in recent weeks, a development attributed to improved liquidity in the formal foreign exchange market and ongoing measures to support the naira.
For individuals and businesses seeking foreign exchange on July 14, the prevailing rates were approximately ₦1,379.62 per dollar on the official NFEM, ₦1,400 per dollar for parallel market purchases, and ₦1,410 per dollar for parallel market sales.
However, parallel market rates may vary slightly depending on location and individual dealers, while the official NFEM rate is determined by transactions conducted within Nigeria’s formal foreign exchange market.
