The Nigerian naira traded relatively steadily against the United States dollar on Friday, July 10, 2026, across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, as traders continued to monitor foreign exchange liquidity and demand.
Data from the Nigerian Foreign Exchange Market (NFEM) showed that the official exchange rate stood at ₦1,375.94 to the US dollar as of July 10, 2026.
In the parallel market, also known as the black market, the dollar exchanged at around ₦1,410 for buying and approximately ₦1,425 for selling, with rates varying slightly across locations and dealers.
The difference between the official NFEM rate and the parallel market rate reflects continued pressure from demand in the informal foreign exchange market, although the naira has remained broadly stable in recent trading sessions.
Market participants say exchange rate movements will continue to depend on foreign currency inflows, liquidity in the official market, and demand from importers and other businesses seeking dollars.
The Central Bank of Nigeria (CBN) maintains that the NFEM rate is the country’s official benchmark exchange rate, while parallel market rates are determined by demand and supply among informal currency traders.
