The Nigerian naira traded at approximately ₦1,373.99 per United States dollar at the official Nigerian Foreign Exchange Market (NFEM) on Thursday, July 9, 2026, according to the latest available market data.
Data from the official foreign exchange market showed the naira continuing to trade within a relatively stable range in recent sessions as market participants monitored liquidity conditions and foreign exchange demand.
In the parallel market, also known as the black market, the US dollar exchanged at about ₦1,410/$, although rates varied slightly across dealers and locations.
The difference between the official NFEM rate and the parallel market rate remained around ₦36 per dollar, reflecting the continued premium paid by buyers sourcing foreign currency outside the official market.
Exchange rates in both the official and parallel markets fluctuate daily based on foreign exchange supply, demand, market liquidity, and broader economic conditions. As a result, the rates offered by banks, bureaux de change, and street traders may differ slightly from the quoted averages.
