The Nigerian naira remained relatively stable in the official foreign exchange market on Monday, July 13, 2026, even as the US dollar continued to trade above ₦1,400 in the parallel market, underscoring persistent pressure on the country’s currency.
At the Nigerian Foreign Exchange Market (NFEM), the official exchange rate stood at approximately ₦1,382.33 per US dollar, showing only a slight change from the previous official rate of ₦1,379.62 recorded before Monday’s trading session.
In the parallel market, where exchange rates are driven by demand and supply, the dollar traded at around ₦1,425 for selling and ₦1,410 for buying. Rates may vary across different locations and currency dealers.
The continued gap between the official and parallel market rates reflects sustained demand for foreign currency outside the banking system, as many businesses and individuals turn to the informal market when official allocations are insufficient.
Market analysts say the naira’s performance in the coming days will depend on foreign exchange liquidity, crude oil earnings, external reserves, investor confidence and the Central Bank of Nigeria’s monetary and foreign exchange policies. Traders are also watching for further interventions by the Central Bank that could influence the direction of the currency.
