GistReel

The Nigerian naira maintained relative stability against the United States dollar on Thursday, July 9, 2026, with the official exchange rate standing at approximately ₦1,373.99 per dollar at the Nigerian Foreign Exchange Market (NFEM).

Recent figures from the official market indicate that the local currency has continued to trade within a narrow range in recent days, as traders and investors closely monitor foreign exchange liquidity and the level of demand for the US dollar.

Meanwhile, activity in the parallel market, commonly referred to as the black market, showed the dollar exchanging at around ₦1,410.

However, the exact rate differed slightly depending on the location and individual currency dealers.

The gap between the official market and the parallel market remained close to ₦36 per dollar, highlighting the premium paid by individuals and businesses that obtain foreign currency outside the official trading window.

Currency exchange rates in both markets are subject to daily fluctuations driven by several factors, including the availability of foreign exchange, market demand, liquidity levels, and overall economic conditions.

Consequently, the rates offered by commercial banks, bureaux de change, and independent currency traders may vary slightly from the average market figures.