The Nigerian naira traded at about ₦1,373.99 to the United States dollar at the official Nigerian Foreign Exchange Market on Thursday, July 9, 2026, according to the latest market data.
Figures from the official foreign exchange market showed the naira maintaining a fairly stable trading range in recent sessions as traders continued to watch liquidity levels and overall demand for foreign currency.
At the parallel market, commonly referred to as the black market, the dollar exchanged at around ₦1,410, although the rate varied slightly depending on the dealer and location.
This left the gap between the official Nigerian Foreign Exchange Market rate and the parallel market rate at roughly ₦36 to the dollar, highlighting the premium buyers still pay when sourcing foreign exchange outside the formal market.
Rates in both the official and unofficial markets continue to change daily, driven by factors such as foreign exchange supply, demand pressure, liquidity conditions and wider economic developments. Because of this, rates quoted by banks, bureaux de change and street traders may differ slightly from the prevailing market averages.
