The Nigerian naira maintained a relatively stable performance against the United States dollar on Friday, July 10, 2026, across both the official foreign exchange market and the parallel market.
Data from the Nigerian Foreign Exchange Market (NFEM) showed that the official exchange rate stood at ₦1,375.94 per dollar, indicating limited movement as traders continued to monitor foreign exchange supply and market demand.
In the parallel market, commonly referred to as the black market, the dollar traded at about ₦1,410 for buying and ₦1,425 for selling, although rates varied slightly depending on location and currency dealers.
The gap between the official and parallel market rates reflects continued demand pressure in the informal market, despite recent stability in the naira’s exchange rate.
Market analysts said future movements in the value of the naira would depend largely on foreign currency inflows, liquidity levels in the official market, and demand from importers and businesses requiring dollars for transactions.
The Central Bank of Nigeria (CBN) continues to recognise the NFEM rate as the country’s official exchange benchmark, while parallel market prices are influenced mainly by demand and supply conditions among informal traders.
