Nigeria's naira steadies against dollar amid official and black‑market rates

On July 9‑10, 2026 the Nigerian naira showed little movement against the U.S. dollar. In the Central Bank of Nigeria’s official foreign‑exchange window (NFEM) the rate stayed between ₦1,376 and ₦1,379 per dollar, while the parallel (black) market quoted buying rates around ₦1,410‑₦1,425.

The official market’s liquidity narrowed, with interbank FX turnover falling about 10% to $71 million and the number of deals dropping to 87. Total foreign‑exchange inflows for the week were roughly $1 billion, led by foreign portfolio investors (≈36% of inflows). The tighter supply of dollars contributed to a modest slide in the naira in one report, while another noted a slight appreciation of about ₦0.6 per dollar.

Analysts said the naira’s near‑term direction will depend on continued dollar inflows, import‑related demand and overall market liquidity. The Central Bank continues to use the NFEM rate as the benchmark, while the black‑market rates remain driven by informal traders.