The naira remained relatively stable against the United States dollar on Friday, July 31, 2026, with only slight changes recorded across both the official and parallel foreign exchange markets.
Data from the Central Bank of Nigeria (CBN) showed that the official Nigerian Foreign Exchange Market (NFEM) rate stayed around ₦1,379 per dollar, maintaining a similar level to recent trading sessions. Other market trackers placed the official exchange rate within the ₦1,379–₦1,384 range during the day.
In the parallel market, also known as the black market, the dollar was exchanged at about ₦1,409 for buying and ₦1,420 for selling in Lagos and other major currency markets.
The difference between the official and parallel market rates remained relatively small, at about ₦30–₦40 per dollar, compared with wider gaps recorded during periods of severe foreign exchange shortages.
Analysts attributed the naira’s recent stability to improved dollar liquidity in the official market and continued interventions by the Central Bank.
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Reuters had earlier reported that the currency has been trading within a narrow range, with the official market hovering around ₦1,373 per dollar and the street market around ₦1,405, indicating limited daily fluctuations.
Currency dealers said demand for foreign exchange from importers and individuals remained high, but available supply has helped prevent significant pressure on the naira.
For Nigerians tracking the exchange rate, the major reference points on Friday were approximately ₦1,379/$1 at the official market and ₦1,409–₦1,420/$1 at the parallel market, although rates could still vary slightly depending on location, dealer and market conditions.
