The Nigerian naira recorded mixed performance against the United States dollar on Wednesday, July 15, 2026, with a slight decline at the official foreign exchange market and a modest gain in the parallel market.
At the Nigerian Foreign Exchange Market (NFEM), the naira traded at an indicative rate of about ₦1,382 per dollar, according to figures from the Central Bank of Nigeria. This represents a slight depreciation compared to the previous trading session, when the currency closed at around ₦1,380.50 per dollar.
In contrast, the naira appreciated in the parallel market, where the dollar traded at approximately ₦1,412, improving from about ₦1,420 recorded a day earlier.
The improvement in the black market reduced the gap between the official and parallel market rates to roughly ₦30 per dollar, continuing the recent trend of a narrower spread between both markets.
Trading activity also increased at the official foreign exchange window, with interbank transactions rising compared to the previous session, suggesting stronger participation in the market.
The Central Bank of Nigeria maintains that the NFEM exchange rate is determined through a volume-weighted average of completed transactions and remains the country's official benchmark rate.
Financial analysts say the performance of the naira in the coming days will largely depend on foreign exchange inflows, market liquidity, demand from importers, and the effectiveness of ongoing monetary and fiscal policies aimed at stabilising the currency.
