Naira depreciates by N3.32 at official FX market, now trades at N1,365/$
By Aboki Forex —
The naira weakened against the US dollar at the official foreign exchange window on Tuesday, July 28, 2026, shedding N3.32 to close at N1,365 per dollar. Data from the Central Bank of Nigeria (CBN) showed the currency traded at N1,365.5303 per dollar during the day.
Official market rate slips
According to the CBN’s Nigerian Foreign Exchange Market (NFEM) platform, the naira opened the day at an NFEM rate of N1,365.5303 per dollar and closed at N1,365.0000 per dollar. This compares with Monday, July 27, 2026, when the NFEM rate was N1,362.2064 per dollar. The depreciation of N3.32 was recorded after Tuesday’s trading activities.
Parallel market: buying rate steady, selling rate gains N5
At the parallel market, the buying rate remained unchanged from the previous day, while the selling rate appreciated by N5. Data from AbokiFX showed that on Tuesday, July 28, 2026, the naira exchanged at N1,405 per dollar for the buying rate and N1,415 per dollar for the selling rate. On Monday, July 27, the selling rate had been higher.
What this means for the naira and Nigerian businesses
The slight depreciation at the official window widens the gap between the official and parallel market rates. Importers who rely on the CBN window will now pay more naira per dollar, adding to input costs. Exporters, on the other hand, may benefit from a weaker naira when repatriating proceeds. The stability in the parallel market buying rate suggests continued demand pressure at that level.