Nigerian Naira Holds at ₦1,372.96 per US Dollar in Official Market on July 8, 2026
The Nigerian naira was valued at ₦1,372.96 against the US dollar in the official foreign exchange market on July 8, 2026, according to official data from the Nigerian Foreign Exchange Market.
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The Nigerian naira traded at ₦1,372.96 per US dollar in the official foreign exchange market on Wednesday, July 8, 2026, based on data from the Nigerian Foreign Exchange Market (NFEM), as reported by Vanguard News. This rate reflects the official benchmark for interbank transactions and is used by financial institutions and authorized dealers across the country.
The figure represents the prevailing rate at which foreign exchange is cleared through formal banking channels, underscoring continued stability in the official market despite persistent divergence from alternative trading venues. While the Central Bank of Nigeria (CBN) has not issued a separate statement on the day’s fixing, the NFEM rate is considered the authoritative reference for corporate and trade-related forex transactions.
Separately, Naija News reported on activity in the parallel market, commonly referred to as the black market or Aboki FX, though no specific exchange rate was provided in the excerpt. The absence of a published parallel market rate in the source limits direct comparison, but historical trends indicate such informal channels often reflect different pricing dynamics due to regulatory and liquidity factors.
Market participants continue to monitor the gap between official and parallel market rates, which can influence capital flows and import pricing. The Nigerian naira’s performance remains closely tied to oil revenue flows, central bank interventions, and investor sentiment toward emerging market currencies.