The Nigerian naira traded relatively stable against the United States dollar on Sunday, July 26, 2026, with the official exchange rate hovering around ₦1,368 per dollar in the foreign exchange market. Data from mid-market exchange trackers showed the dollar exchanging at approximately ₦1,368.33/$1, reflecting only marginal movement from the previous trading session.
In the parallel (black) market, however, the dollar exchanged at higher rates, with traders buying at around ₦1,405/$1 and selling at approximately ₦1,415/$1, highlighting the continued gap between official and informal market rates.
The disparity between the official and parallel market rates has persisted despite ongoing reforms in Nigeria’s foreign exchange market aimed at improving liquidity and narrowing exchange rate differences.
The Central Bank of Nigeria (CBN) continues to monitor developments in the foreign exchange market as it pursues policies designed to stabilise the naira and boost investor confidence. The apex bank recently retained its Monetary Policy Rate (MPR), citing prevailing global economic uncertainties and the need to sustain macroeconomic stability.
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