Naira's value against the US Dollar as of July 27, 2026

The Nigerian naira remained steady against the US dollar as the week began on Monday, July 27, 2026, with stable exchange rates observed in both the official Nigerian Foreign Exchange Market and the parallel market.

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According to the Central Bank of Nigeria, the official exchange rate in the NFEM was ₦1,362.09/$1 at the close of the most recent trading session on July 24.

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The market's highest and lowest rates were ₦1,365.00/$1 and ₦1,359.00/$1, respectively, with a closing rate of ₦1,361.00/$1.

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In the parallel market, the US dollar was traded at a buying rate of around ₦1,350 and a selling rate of approximately ₦1,375 on Monday morning, based on data from currency dealers.

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The difference between the official and parallel market exchange rates remained relatively small, indicating ongoing convergence between the two markets, which is a departure from the wider gaps seen in previous years.

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The Central Bank of Nigeria has continued to implement foreign exchange reforms aimed at enhancing liquidity, boosting investor confidence, and supporting greater stability in the naira.

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The Monetary Policy Committee decided to retain the Monetary Policy Rate at 26.5 per cent last week, citing global economic uncertainties and the need to maintain macroeconomic stability.

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Exchange rates in the parallel market can fluctuate depending on location, demand, supply, and transaction volumes, and may vary among Bureau De Change operators.