Dollar to Naira exchange rate today, July 21, 2026

Nigeria's naira held a relatively stable position against the US dollar on Tuesday, July 21, 2026. The currency traded within a consistent range across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market. Market observers are closely watching foreign exchange liquidity levels and the outcomes of the Central Bank of Nigeria’s Monetary Policy Committee meeting.

Data from the Central Bank of Nigeria (CBN) indicated the official NFEM exchange rate hovered around ₦1,380 per US dollar. The volume-weighted average rate on the latest trading day was recorded at ₦1,380.18. In the parallel market, often referred to as the black market, the dollar was being exchanged at approximately ₦1,410 for buying and ₦1,425 for selling. These rates can fluctuate slightly based on location, dealer, and transaction size.

The gap between the official and parallel market rates has narrowed significantly compared to previous years. This stability is attributed to improved liquidity in the formal foreign exchange market, a result of ongoing reforms initiated by the CBN. Despite this, analysts note that demand from importers and businesses continues to exert influence on the parallel market's fluctuations.

Market watchers are also paying close attention to Nigeria's monetary policy developments. The CBN is maintaining a cautious approach, aiming to sustain exchange rate stability and manage inflationary pressures. The overall economic environment suggests a continued focus on balancing reform implementation with market stability.