The Naira to Dollar exchange rate remained largely steady on Friday, July 17, 2026, with only slight changes recorded in the official foreign exchange market. While the official market showed limited movement, the parallel market, commonly known as the black market, continued to trade the US dollar at a higher rate.
Latest figures from the Central Bank of Nigeria (CBN) indicate that the official Dollar to Naira exchange rate in the Nigerian Foreign Exchange Market (NFEM) stood at about ₦1,380 per US dollar. The most recent published NFEM closing rate was ₦1,382.18/$1 on July 15. The apex bank calculates the official exchange rate using the volume-weighted average of transactions carried out in the official forex market.
The parallel market continued to trade above the official window as demand for foreign currency outside the banking system remained strong. However, the gap between the two markets has reduced compared to previous years following recent reforms in Nigeria’s foreign exchange system.
Dollar to Naira Exchange Rate Today
| Market | Buying Rate | Selling Rate |
|---|---|---|
| Official (NFEM) | Around ₦1,380/$1 | Latest fixing: ₦1,382.18/$1 |
| Parallel (Black Market) | ₦1,410 – ₦1,417/$1 | ₦1,417 – ₦1,425/$1 |
Actual rates may differ slightly depending on location, dealer and prevailing market demand.
Financial experts believe future movements in the Naira Dollar exchange rate will depend on several key factors. These include the availability of US dollars in the market, Nigeria’s crude oil earnings, foreign investment inflows and monetary policy decisions by the Central Bank of Nigeria.
Attention is also turning to the next meeting of the CBN’s Monetary Policy Committee, where policymakers are expected to assess current economic conditions. The committee has maintained that future decisions on the exchange rate and other monetary measures will continue to be guided by economic data as inflation eases and global uncertainties persist.
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