Dollar to Naira Exchange Rate Today, July 23, 2026

On Thursday, July 23, 2026, the naira maintained a relatively stable exchange rate against the United States dollar, both in the official Nigerian Foreign Exchange Market (NFEM) and the parallel market.

In the official market, the exchange rate was approximately ₦1,371.36 to one US dollar, as determined by transactions facilitated through the Central Bank of Nigeria’s foreign exchange market.

Meanwhile, in the parallel market, often referred to as the black market, traders reported a buying rate of about ₦1,405 and a selling rate of ₦1,410 for the dollar. This disparity between the official and parallel market rates reflects the impact of demand and supply dynamics outside the regulated FX framework.

The gap between the official and parallel market rates remains a key indicator of foreign exchange liquidity and demand pressures in Nigeria. While reforms in the FX market have narrowed the spread over the past year, many businesses and individuals still rely on the parallel market when official dollar supplies are insufficient.

Exchange rates are subject to change throughout the trading day depending on market conditions, transaction volumes, and foreign exchange availability. The rates quoted in the parallel market may also vary slightly across cities and dealers.