The Nigerian naira traded relatively steadily against the United States dollar on Monday, July 13, 2026, with the official exchange rate standing at about ₦1,382.33 per dollar at the Nigerian Foreign Exchange Market (NFEM).
The rate represents the benchmark value used in the formal foreign exchange market and showed little movement compared with the previous published rate of ₦1,379.62 per dollar recorded on July 10.
In the parallel market, also known as the black market, the dollar exchanged at around ₦1,410 for buying and ₦1,425 for selling, although prices varied slightly depending on location and market conditions.
The gap between the official and parallel market rates highlights the continued demand pressure in the informal foreign exchange sector, where some individuals and businesses seek dollars when they are unable to access sufficient supply through official channels.
Market analysts said the naira’s movement will continue to depend on factors such as foreign exchange liquidity, crude oil revenue, external reserves, investor confidence and the policies of the Central Bank of Nigeria.
Traders are also keeping a close watch on possible CBN interventions and changes in dollar supply, which could influence the direction of the exchange rate in the coming days
