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Nigeria's Naira Holds Steady Against Dollar Amid Tight Official and Parallel Rates
On July 31, 2026 the Nigerian naira remained stable against the US dollar. The official Nigerian Foreign Exchange Market (NFEM) rate hovered around ₦1,379 per $1, while the parallel (black‑market) rate traded between ₦1,409 and ₦1,420, leaving a narrow spread of roughly ₦30‑₦40.
Market analysts linked the stability to improved liquidity in the official market and periodic interventions by the Central Bank of Nigeria (CBN). A slight depreciation was noted on July 30, 2026 when the official rate fell to about N1,366.73 per dollar, but the gap with the black‑market rate (buying N1,405, selling N1,410) remained modest.
Nigeria's external reserves slipped by about $120 million over five days, reaching $51.92 billion on July 29, 2026, yet they remain well above the previous year’s level. Interbank foreign‑exchange turnover also fell, down 4.28 % to $58.42 million, reflecting a modest slowdown in market activity.
Entities
Aboki (black market) · Abuja · Central Bank of Nigeria · Lagos · Nigeria · Nigerian Foreign Exchange Market · Nigerian Naira · United States Dollar
Claims
What the coverage asserts, and how many sources carry each claim.
- [DISPUTED] Nigeria's external reserves fell by about $120 million over five days to $51.92 billion as of July 29, 2026.
- [○ 1 SOURCE] Interbank foreign‑exchange turnover declined 4.28 % to $58.42 million on July 29, 2026.
- [○ 1 SOURCE] On July 30, 2026 the official rate was N1,366.73 per dollar, showing slight depreciation. tribuneonlineng.com
- [● 5 SOURCES] The parallel (black‑market) rate was between ₦1,409 and ₦1,420 per US dollar on July 31, 2026. www.gistreel.com · newscentraltv.com · www.tori.ng
- [○ 1 SOURCE] On July 30, 2026 the parallel market buying rate was N1,405 per dollar and the selling rate N1,410. tribuneonlineng.com
- [● 3 SOURCES] The Central Bank of Nigeria intervened to improve liquidity, contributing to naira stability. www.gistreel.com · newscentraltv.com · www.tori.ng
- [● 3 SOURCES] The official NFEM exchange rate was around ₦1,379 per US dollar on July 31, 2026. www.gistreel.com · newscentraltv.com · www.tori.ng
- [● 3 SOURCES] The spread between official and parallel rates was about ₦30‑₦40 per dollar. www.gistreel.com · newscentraltv.com · www.tori.ng