The naira opened trading on Tuesday, July 28, 2026, with a relatively narrow gap between the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, as traders continued to monitor dollar liquidity and demand across the banking and Bureau de Change segments.
At the official market, the Central Bank of Nigeria’s NFEM data showed the naira trading around ₦1,362.09 per US dollar, with the day’s transactions ranging between ₦1,359 and ₦1,365. The closing rate from the most recent available NFEM session was approximately ₦1,361 per dollar.
Live interbank pricing also indicated the dollar was quoted at about ₦1,366.84/$ in early Tuesday trading. This reflects ongoing activity within the official foreign exchange window.
In the parallel market, commonly referred to as the black market, the dollar was bought at about ₦1,402–₦1,405 and sold between ₦1,410 and ₦1,412 in Lagos. Dealers reported slight variations across locations and transaction sizes.
The difference between the official NFEM rate and the parallel market selling rate remained around ₦48–₦50 per dollar, suggesting a much narrower premium than levels seen during periods of severe foreign exchange pressure.
