The naira exchanged at about N1,381.68 to the United States dollar at the Nigerian Foreign Exchange Market on Wednesday, July 22, 2026, according to official market data.

The official exchange rate placed the naira at N1,381.68 per dollar in the NFEM, reflecting the prevailing market rate at the start of trading on Wednesday.

In the parallel market, popularly known as the black market, the dollar traded at around N1,408 per dollar for buying and N1,413 per dollar for selling, although rates may vary slightly depending on location, transaction size and dealer.

Based on the prevailing rates, $100 would exchange for about N138,168 at the official market, while the same amount could fetch about N141,300 at the parallel market selling rate.

The difference between the official and parallel market rates continues to reflect demand and supply dynamics in Nigeria’s foreign exchange market.

The Central Bank of Nigeria has maintained reforms aimed at improving liquidity and narrowing the gap between the two exchange windows, although the street market continues to trade at a premium over the official rate.

Exchange rates in the parallel market are not fixed and may change several times during the day based on market conditions, dealer quotations and the volume of transactions.

Likewise, the official NFEM rate may fluctuate as trading progresses.