The naira traded with mixed performance against the United States dollar on Tuesday, July 7, 2026, as the official Nigerian Foreign Exchange Market remained relatively stable while the parallel market recorded a slight weakening.

Data from the official exchange rate market showed that the naira exchanged at approximately N1,367.29 to the US dollar.

This reflected continued stability in the formal foreign exchange market amid ongoing liquidity management by the monetary authorities.

In the parallel market, also known as the black market, the dollar traded at about N1,400 per dollar.

This represented a modest depreciation of the naira compared with the previous trading session.

Market participants attributed the movement to persistent demand for foreign currency outside the official window.

The gap between the official NFEM rate and the parallel market remained relatively narrow at roughly N33 per dollar.

This suggested that recent foreign exchange reforms continue to moderate volatility between both markets.

Official NFEM rate stood at N1,367.29 to one dollar.

Parallel market rate stood at around N1,400 to one dollar.

Foreign exchange analysts say the naira’s performance will continue to depend on dollar liquidity, inflows from oil exports, foreign portfolio investment, and the Central Bank of Nigeria’s interventions in the FX market.

They also note that demand from importers and manufacturers remains a key factor influencing exchange rate movements.