The Nigerian naira posted a mixed performance against the United States dollar on Wednesday, July 15, 2026.
At the official Nigerian Foreign Exchange Market (NFEM), the local currency weakened slightly to ₦1,382 per US dollar, while it appreciated to ₦1,412/$ at the parallel market.
Data from the Central Bank of Nigeria (CBN) showed the official exchange rate slipped from about ₦1,380.50/$ recorded in the previous trading session, reflecting a marginal depreciation.
Black market rate improves
In the parallel market, commonly known as the black market, the naira gained ground against the dollar.
The exchange rate improved to approximately ₦1,412/$, compared with ₦1,420/$ recorded a day earlier.
The improvement reduced the gap between the official and parallel market rates to around ₦30 per dollar.
Trading activity rises
Market data also indicated stronger activity at the official foreign exchange window.
Interbank trading volumes increased compared with the previous session, suggesting improved participation in the market.
The CBN has maintained that the NFEM exchange rate is determined through a volume-weighted average of completed foreign exchange transactions.
The apex bank said the rate remains Nigeria’s official benchmark exchange rate.
Market analysts believe the naira’s performance in the coming days will depend on foreign exchange inflows, liquidity levels, importer demand, and the impact of ongoing monetary and fiscal policies aimed at supporting exchange rate stability.
