Naira Appreciates to N1,395 per Dollar in Parallel Market
The Nigerian naira strengthened to N1,395 per US dollar in the parallel market on July 3, 2026, up from N1,403 the previous day, according to Vanguard News.
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The Nigerian naira appreciated to N1,395 per US dollar in the parallel market on July 3, 2026, rising from N1,403 recorded the previous day, Vanguard News reported. The gain reflects a modest improvement in the currency’s value amid ongoing volatility in the informal foreign exchange segment.
This appreciation marks a narrowing of the gap between the parallel market rate and the official market, where the naira has faced persistent pressure due to foreign exchange shortages and capital outflows. The parallel market, often referred to as the 'Aboki FX' market, remains a key reference for many businesses and individuals accessing dollars outside official channels.
The N1,395/$ level represents an intraday rate observed across major trading points in Lagos and other commercial hubs, as cited by Vanguard News. The move comes amid reports of increased dollar supply from informal inflows and tighter controls on cross-border transactions. Naija News corroborated the shift, publishing updates on the July 3 exchange rate movement, though without specifying exact figures.
Market analysts note that while the single-day appreciation is notable, sustained stabilization will depend on Central Bank of Nigeria (CBN) policy consistency and improved foreign reserve inflows. The CBN has not issued an official statement on the latest parallel market shift as of press time.