The Nigerian naira traded at ₦1,372.96 against the United States dollar at the Nigerian Foreign Exchange Market (NFEM) on Wednesday, July 8, 2026, according to official market data. The latest rate represents the benchmark exchange rate for transactions in the official foreign exchange market.
In the parallel market, also known as the black market, the dollar exchanged at about ₦1,410 per dollar for selling, while the buying rate hovered around ₦1,400, according to market trackers and Bureau de Change reports.
The gap between the official and parallel market rates continues to reflect sustained demand for foreign exchange outside the formal banking system, although the spread has narrowed compared with previous months.
The Central Bank of Nigeria has maintained reforms aimed at improving liquidity and encouraging price discovery in the official foreign exchange market. Market participants continue to monitor inflows from foreign investors, oil export earnings and monetary policy decisions for their impact on the value of the naira.
As of today, the exchange rates are:
