Dollar to Naira exchange rate today, July 24, 2026

The Nigerian naira maintained a stable trading range against the United States dollar on Friday, July 24, 2026, across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market.

Data from the official market indicated that the naira was exchanging at approximately ₦1,369.92 to the US dollar. Meanwhile, in the parallel market, often referred to as the black market, the dollar traded at around ₦1,420 per dollar. Market trackers noted that rates could vary slightly based on location, dealer margins, and transaction volumes.

At the prevailing official rate, $100 would convert to about ₦136,992, and $1,000 would be worth roughly ₦1.37 million. The gap between the official and parallel market rates has remained relatively narrow compared to previous years. This stability is seen as a reflection of ongoing foreign exchange reforms and improvements in market liquidity.

Despite the improved liquidity, analysts suggest that demand for dollars from importers and other end-users continues to be a significant factor influencing market movements. The Central Bank of Nigeria sets the official NFEM exchange rate through a volume-weighted average of market transactions, whereas parallel market rates are driven by the supply and demand dynamics among currency dealers.