The Nigerian naira maintained relative stability against the United States dollar on Thursday, July 9, 2026, trading at approximately ₦1,373.99 per dollar at the official Nigerian Foreign Exchange Market (NFEM).
Latest market data showed that the naira remained within a narrow range in recent trading sessions as foreign exchange participants continued to monitor liquidity levels, dollar supply and demand pressures.
In the parallel market, also known as the black market, the dollar traded at about ₦1,410 per dollar, although the exact rate varied slightly depending on the dealer and location.
The difference between the official NFEM rate and the parallel market rate stood at about ₦36 per dollar, indicating the premium faced by individuals and businesses sourcing foreign currency outside the official market.
Market analysts noted that movements in the exchange rate will continue to depend on factors such as foreign exchange availability, investor inflows, oil revenue earnings and broader economic conditions.
Rates offered by banks, bureaux de change and parallel market operators may continue to differ slightly due to daily changes in supply, demand and market conditions.
