The Nigerian naira maintained a relatively stable position against the United States dollar at the official Nigerian Foreign Exchange Market (NFEM) on Monday, July 13, 2026. The naira closed at approximately ₦1,382.33 to the dollar in the formal market, a slight variation from the previous trading session's rate of ₦1,379.62 per dollar.. This stability in the official market comes despite continued pressure and higher rates observed in the parallel, or black market..

In the parallel market, the dollar was being bought at around ₦1,410 and sold at approximately ₦1,425.. This significant gap between the official and parallel market rates highlights the persistent demand for foreign exchange outside the formal banking system, where businesses and individuals unable to access official allocations often turn..

Market analysts attribute the naira's performance to a combination of factors including foreign exchange liquidity, crude oil earnings, external reserves, investor confidence, and the monetary and foreign exchange policies implemented by the Central Bank of Nigeria (CBN).. Market participants are closely monitoring the CBN's interventions and the overall supply of dollars for indications of the naira's future direction..

Data from the Central Bank of Nigeria indicated that the country's foreign reserves stood at $51.77 billion as of July 10, 2026.. The historical data shows that the exchange rate has seen fluctuations throughout 2026, with the lowest rate recorded at 1 NGN = 0.00069 USD on January 1, 2026, and the highest at 1 NGN = 0.00075 USD on February 18, 2026..