On Friday, July 10, 2026, the Nigerian naira maintained a stable position against the United States dollar across both the official Nigerian Foreign Exchange Market (NFEM) and the unofficial parallel market. Traders remained focused on tracking fluctuations in foreign currency liquidity and market demand.
Official records from the NFEM indicate that the naira was valued at ₦1,375.94 per US dollar on this date. Meanwhile, in the black market sector, the dollar was purchased at roughly ₦1,410 and sold for approximately ₦1,425, though these figures fluctuated depending on specific dealers and regional variations.
This discrepancy between official and informal rates highlights the persistent demand pressures within the secondary market, even as the currency has demonstrated overall consistency lately. Financial observers note that future exchange rate activity will hinge on factors such as foreign capital inflows, the availability of liquidity in official channels, and the buying requirements of business entities and importers.
The Central Bank of Nigeria continues to designate the NFEM as the definitive benchmark for the country’s official exchange rate, whereas parallel market figures are dictated purely by supply and demand dynamics among private currency traders.
