The Nigerian naira opened trading at ₦1,381.68 per dollar on the official Nigerian Foreign Exchange Market (NFEM) this Wednesday, July 22, 2026, as the currency continues its volatile dance against the greenback.
On the street—where the real action happens—the parallel (black) market is pricing the dollar higher, with buying rates at ₦1,408 and selling rates at ₦1,413 per $1. That means if you’re exchanging $100 today:
· Official window: You’ll get about ₦138,168
· Parallel market (selling): You could fetch roughly ₦141,300
The widening spread—over ₦31 per dollar highlights persistent demand pressure, even as the Central Bank of Nigeria pushes reforms to boost liquidity and bridge the gap between both windows. However, street dealers continue to command a premium, driven by scarcity and transaction volumes.
Keep in mind: Parallel market rates are fluid—they can shift multiple times daily based on location, dealer whims, and trade size. The official NFEM rate isn’t set in stone either, so watch this space for intraday movements.
