On Wednesday, July 22, 2026, the Nigerian naira was valued at ₦1,381.68 per United States dollar within the official Nigerian Foreign Exchange Market (NFEM). This figure represents the established market rate at the beginning of the day’s trading session.
Meanwhile, the parallel market—often referred to as the black market—saw the dollar trading between ₦1,408 for purchase and ₦1,413 for sale. These rates are subject to fluctuation based on individual dealers, specific transaction volumes, and geographic location.
For context, exchanging $100 yields approximately ₦138,168 through official channels, whereas the same amount could garner roughly ₦141,300 on the parallel market. This disparity between the two markets highlights the ongoing supply and demand pressures within Nigeria’s currency landscape. While the Central Bank of Nigeria persists in implementing reforms to enhance liquidity and close the valuation gap, the parallel market maintains a premium over the official rate.
Keep in mind that rates are dynamic; both official and informal figures may shift frequently throughout the business day as market conditions evolve.
