The Nigerian naira continued to trade steadily against the United States dollar on Friday, July 17, 2026, with the official exchange rate remaining around ₦1,380 per dollar at the Nigerian Foreign Exchange Market (NFEM), while the parallel market maintained higher rates.
According to the latest data released by the Central Bank of Nigeria (CBN), the official NFEM closing rate stood at ₦1,382.18/$1 as of July 15, reflecting only marginal fluctuations recorded in recent trading sessions.
The CBN determines the official exchange rate using the volume-weighted average of completed foreign exchange transactions in the official market, a system that has continued to show relative stability despite pressure in the broader foreign exchange sector.
Friday, July 17 Exchange Rates
- Official NFEM rate: Around ₦1,380/$1
- Latest CBN closing rate: ₦1,382.18/$1
- Parallel market buying rate: ₦1,410 to ₦1,417/$1
- Parallel market selling rate: ₦1,417 to ₦1,425/$1
Currency dealers noted that rates in the parallel market may vary slightly depending on the city, transaction size, market demand and individual dealer pricing.
Although a gap remains between the official and parallel market exchange rates, it has narrowed significantly compared with previous years following the Federal Government’s foreign exchange reforms.
Market analysts say the naira’s performance in the coming weeks will largely depend on foreign exchange liquidity, crude oil revenues, foreign investment inflows and the Central Bank’s monetary policy decisions.
Attention is also shifting to the Monetary Policy Committee (MPC) meeting scheduled for next week, where the CBN is expected to review key economic indicators and determine its next policy direction.
The apex bank has maintained that its monetary policy decisions will continue to be guided by economic data, as inflation shows signs of easing while global economic uncertainties persist.
