The naira held firm against the dollar as trading resumed on Monday, July 27, 2026, across both official and informal markets. Data from the Central Bank of Nigeria showed the official rate closing at ₦1,362.09/$1 on July 24, the latest available session.
During that trading day, the official market touched a high of ₦1,365.00/$1 and a low of ₦1,359.00/$1 before settling at ₦1,361.00/$1. On Monday morning, parallel market dealers quoted the dollar at ₦1,350 on the buy side and ₦1,375 on the sell side.
The gap between official and informal rates remained narrow, signalling that both markets are converging more closely than they did in previous years. This reflects the CBN's push to stabilise the currency through ongoing reforms, the central bank confirmed.
The CBN has intensified efforts to boost foreign exchange liquidity and strengthen investor sentiment in the naira, officials said. Last week, the Monetary Policy Committee held the Monetary Policy Rate steady at 26.5 per cent to support broader economic stability amid global uncertainties.
Parallel market rates can shift across different locations and Bureau De Change outlets depending on how supply, demand and transaction sizes move throughout the day, dealers noted.
