Picnews
The Nigerian naira continued to trade under pressure in the parallel foreign exchange market on Monday, July 13, 2026, as the United States dollar exchanged for about ₦1,425 at the black market selling rate, while buyers purchased the dollar at approximately ₦1,410. Rates, however, may vary slightly depending on location, market conditions and individual currency dealers.
The latest figures indicate that the gap between the parallel market and official foreign exchange window remains a key factor influencing businesses, importers and individuals who rely on foreign currency for transactions. The official market rate was recently reported at about ₦1,379.62 per dollar, showing a difference between regulated and parallel market pricing.
The continued demand for foreign currency, particularly the US dollar, has remained one of the major factors shaping movements in the parallel market. Importers, travellers, businesses sourcing foreign goods and individuals seeking foreign currency for various obligations continue to contribute to demand pressures.
Currency analysts have consistently noted that exchange rate movements are influenced by several factors, including foreign exchange availability, inflation trends, investor confidence, international market developments and the level of dollar liquidity within the economy.
The naira’s performance has also been closely watched by businesses and consumers, as changes in the dollar rate often affect the cost of imported goods, raw materials, production expenses and overall pricing of goods and services.
For households and businesses, fluctuations in the exchange rate remain a major concern because Nigeria relies significantly on imported products and components. A weaker naira can increase operational costs for companies while also contributing to higher prices across different sectors of the economy.
Meanwhile, economic authorities have continued efforts aimed at improving foreign exchange liquidity and strengthening confidence in the naira through policy measures and interventions in the forex market. Recent market reports indicate that the naira has shown relative stability in official trading sessions, supported by foreign currency inflows and market interventions.
Financial experts have advised market participants to monitor official announcements and economic indicators rather than relying solely on short-term movements in the parallel market, noting that exchange rates can change rapidly due to shifts in demand and supply.
As of July 13, 2026, the black market dollar rate remains a significant reference point for many Nigerians, although the Central Bank of Nigeria continues to recognise regulated foreign exchange channels for legitimate transactions.
Current Parallel Market Rate (July 13, 2026):
- $1 Dollar (Selling): ₦1,425
- $1 Dollar (Buying): ₦1,410
