The Nigerian naira remained relatively stable against the United States dollar at the official Nigerian Foreign Exchange Market (NFEM) on Tuesday, July 14, 2026, while the parallel market continued to trade the dollar at a higher rate.
Data from the Central Bank of Nigeria’s exchange rate platform indicated that the official NFEM rate stood at about ₦1,379.62 per dollar, based on the latest available market figures.
The official market recorded an intraday high of ₦1,382.00 and a low of ₦1,375.00, showing slight movements in trading activities.
In the parallel market, also known as the black market, Bureau de Change operators and street traders quoted the dollar at approximately ₦1,410 per dollar, with buying rates around ₦1,400. This represents a difference of about ₦30 compared with the official exchange rate.
The difference between the official and parallel market rates has remained relatively small in recent weeks, a development linked to improved liquidity in the formal foreign exchange market and ongoing measures aimed at supporting the naira.
The prevailing exchange rates for July 14 are:
- Official NFEM rate: about ₦1,379.62/$1
- Parallel market buying rate: about ₦1,400/$1
- Parallel market selling rate: about ₦1,410/$1
Parallel market exchange rates may differ slightly depending on location and individual dealers, while the official NFEM rate is determined by transactions carried out within Nigeria’s regulated foreign exchange market.