The Nigerian naira traded with little movement against the United States dollar on Wednesday, July 29, 2026, as exchange rates remained relatively stable across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market.
At the official market, the naira exchanged at an average rate of ₦1,364.54 per US dollar, according to NFEM data. Trading opened at about ₦1,367.00/$ before settling around the ₦1,364.50/$ mark during early transactions.
In the parallel market, also known as the black market, Bureau De Change operators quoted the dollar at around ₦1,410 for buying and ₦1,425 for selling. Exchange rates continued to vary slightly depending on location, transaction size, and the availability of foreign currency.
Read Also:
Naira depreciates to N1,407/$ in parallel market
Foreign exchange dealers attributed the relative stability in the market to the Central Bank of Nigeria’s continued liquidity interventions and recent monetary policy measures aimed at improving confidence in the foreign exchange market.
Meanwhile, importers, investors and other forex users are closely monitoring movements in Nigeria’s foreign reserves and global market conditions as trading continues.
