The Nigerian naira posted mixed results against the United States dollar on Wednesday, July 15, 2026, across the official Nigerian Foreign Exchange Market (NFEM) and the parallel market as investors continued to monitor foreign exchange liquidity and demand.
At the official market, the naira traded at an indicative rate of ₦1,382/$, according to figures released by the Central Bank of Nigeria (CBN). This represents a slight depreciation from the previous session, when the local currency closed at about ₦1,380.50/$.
Meanwhile, the naira recorded gains in the parallel market, commonly referred to as the black market, where the dollar exchanged for around ₦1,412, compared to approximately ₦1,420/$ the previous day. The improvement reduced the gap between the official and parallel market rates to about ₦30 per dollar.
Trading activity at the official foreign exchange window also increased, with interbank transactions recording higher volumes than the previous session, suggesting stronger participation in the market.
The Central Bank of Nigeria explained that the NFEM rate is determined using the volume-weighted average of completed foreign exchange transactions and remains the country’s official benchmark exchange rate.
Financial analysts believe the naira’s performance in the coming days will largely depend on foreign exchange inflows, market liquidity, import demand, and the impact of ongoing monetary and fiscal policies aimed at maintaining exchange rate stability.
