Naira weakens to N1,379.62 against dollar at official FX market
By Aboki Forex —
The Nigerian naira depreciated against the United States dollar at the official foreign exchange window on Friday, July 10, 2026, trading at N1,379.6201 per dollar. Data from the Central Bank of Nigeria (CBN) shows the currency lost at least N1.19 compared to the previous day's rate.
Official market performance
At the Nigerian Foreign Exchange Market (NFEM), the naira traded at N1,379.6201 per dollar and closed at N1,381.7000 per dollar on Friday. This compares with the NFEM rate of N1,378.4313 recorded on Thursday, July 9, 2026. The slight depreciation of N1.19 reflects continued pressure on the local currency at the official window.
Parallel market rates
At the parallel market, also known as the black market, the buying rate appreciated by N2 while the selling rate remained unchanged compared to the previous trading day. Black market rates stood at N1,427 for buying and N1,435 for selling on Friday.
The gap between the official and parallel market rates widened, with the black market rate at N1,427 to N1,435 per dollar against the official closing rate of N1,381.7000.
What this means for the naira
The marginal depreciation at the official window suggests lingering demand pressure for dollars despite CBN interventions. The spread between official and parallel market rates remains significant, indicating that access to FX at the official window is still constrained for many end users. For Nigerian businesses and consumers, this gap often translates into higher costs for imported goods and services.