Vanguard· 1h ago· 1 min read
The Nigerian Naira opened trading on Wednesday, July 29, 2026, maintaining relative stability against the United States dollar across both the official Foreign Exchange Market (NFEM) and the parallel market.
Data from the official Nigerian Foreign Exchange Market shows the currency trading at an average rate of 1,364.54 Naira per US Dollar. Intra-day spot trading in the official window opened near 1,367.00 Naira before settling around the 1,364.50 range during morning transactions.
In the parallel market, commonly referred to as the black market, Bureau De Change operators and street traders are quoting buying rates at around 1,410 Naira per Dollar and selling rates at approximately 1,425 Naira per Dollar. Variations continue to exist depending on location, transaction volume, and immediate market liquidity.
Market operators attribute the sustained narrowing of the spread between…
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