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3 clusters · 7 sources · 27 days · First seen · Last updated

Categories: BUSINESS

Nigeria Naira exchange rate dynamics

Entities: United States Dollar · Nigerian Naira · Central Bank of Nigeria · Monetary Policy Committee (Nigeria)

Overview

The official Naira window rate fell from about ₦1,380 on 1 July 2026 to roughly ₦1,370 by 25 July, while the parallel market hovered around ₦1,405‑₦1,415, keeping a premium near three percent. The 25 July snapshot confirms those levels, noting steady demand from importers, travelers and businesses, and modest dollar liquidity from oil receipts and remittances.

By 27 July, however, the spread narrowed noticeably. The official NFEM rate closed near ₦1,362 per $, and the black‑market quoted about ₦1,350 for purchases and ₦1,375 for sales, indicating a reduced premium. CBN officials attributed the tighter convergence to ongoing foreign‑exchange reforms aimed at boosting investor confidence, while the Monetary Policy Committee left the policy rate unchanged at 26.5 %. The latest data suggest that reform‑driven liquidity improvements are beginning to temper the earlier premium, though demand pressures remain.

Overall, the period shows a modest appreciation of the official rate, a brief widening of the black‑market premium, and a subsequent narrowing of the gap as reforms take effect.

Timeline

  1. about 16 hours ago

    [BUSINESS] 3 sources
    Nigeria's Naira Holds Steady as CBN Reforms Narrow Dollar Gap

    Nigeria's naira stayed stable on July 27, 2026, with official rates around ₦1,362/$1 and parallel rates near ₦1,350‑₦1,375, as CBN reforms and a steady policy rate narrow the dollar gap.

  2. 3 days ago

    [BUSINESS] 3 sources
    Nigeria Parallel Market Dollar/Naira Rate Near ₦1,410 on July 25, 2026

    Nigeria’s black‑market dollar trades at about ₦1,405‑₦1,415 per USD on July 25, 2026, a ~3% premium over the Central Bank’s official ₦1,369 rate, amid steady demand and improved liquidity.

  3. 27 days ago

    [BUSINESS] 4 sources
    Nigerian Naira holds around ₦1,380 per dollar in official and black markets

    Nigeria’s official naira rate stayed near ₦1,380 per dollar on July 1, 2026, while the black market narrowed to about ₦1,390‑₦1,405, reflecting CBN liquidity measures and modest market strengthening.

Sources

gistreel.com · naijanews.com · newswings.com.ng · nnn.ng · osundefender.com · thecityceleb.com · tribuneonlineng.com