Dollar to Naira exchange rate today, July 23, 2026

The naira traded within a relatively stable range against the United States dollar on Thursday, July 23, 2026, across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market.

At the official market, the latest available exchange rate indicated that the naira traded at approximately ₦1,371.36 to one US dollar, based on the prevailing NFEM rate. The official rate is derived from transactions conducted through the Central Bank of Nigeria’s foreign exchange market.

In the parallel market, commonly referred to as the black market, currency traders quoted the dollar at about ₦1,405 for buying and ₦1,410 for selling on Thursday, reflecting a premium over the official market rate due to demand and supply dynamics outside the regulated FX window.

The gap between the official and parallel market rates remains a key indicator of foreign exchange liquidity and demand pressures in Nigeria. While reforms in the FX market have narrowed the spread over the past year, many businesses and individuals still rely on the parallel market when official dollar supplies are insufficient.

Exchange rates are subject to change throughout the trading day depending on market conditions, transaction volumes, and foreign exchange availability. The rates quoted in the parallel market may also vary slightly across cities and dealers.

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