The Nigerian naira maintained relative stability against the United States dollar on Thursday, July 2, 2026, across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, with the gap between both segments remaining narrow.
According to live foreign exchange data, the official NFEM exchange rate stood at about ₦1,374.18 per US dollar on Thursday morning. The rate reflects transactions carried out in Nigeria’s official foreign exchange market and is based on the volume-weighted average of completed trades.
In the parallel market, commonly referred to as the black market, the naira recorded further gains, with the dollar trading at around ₦1,385, compared to about ₦1,390 a day earlier.
The appreciation in the parallel market followed similar gains in the official market. Data released by the Central Bank of Nigeria showed that the NFEM rate improved from around ₦1,376 per dollar to roughly ₦1,369 in the previous trading session before settling close to Thursday’s level.
Market participants linked the relative stability of the exchange rate to sustained foreign exchange liquidity and the Central Bank’s ongoing reforms aimed at improving transparency and efficiency in the forex market.
Analysts said the naira’s movement in the coming days will largely depend on foreign exchange inflows, import demand, external reserves and overall market sentiment.
Based on the prevailing official rate:
$1 = approximately ₦1,374.18
$10 = approximately ₦13,741.80
$100 = approximately ₦137,418
$1,000 = approximately ₦1,374,180
Exchange rates in the parallel market may vary slightly depending on location, dealer and transaction size. Likewise, official NFEM rates continue to fluctuate throughout the trading day as new transactions are completed.