The Nigerian naira recorded mixed performance against the United States dollar across the official Nigerian Foreign Exchange Market (NFEM) and the parallel market on Wednesday, July 15, 2026, as traders continued to monitor foreign exchange liquidity and demand.

At the official market, the naira traded at an indicative exchange rate of approximately ₦1,382 per US dollar, according to data from the Central Bank of Nigeria (CBN). The latest figures showed a slight depreciation from the previous trading session, when the currency closed around ₦1,380.50/$, reflecting a marginal weakening of the local currency at the NFEM.

In the parallel market, also known as the black market, the naira strengthened to about ₦1,412 per dollar, improving from around ₦1,420/$ recorded a day earlier. The appreciation narrowed the gap between the official and unofficial markets to roughly ₦30 per dollar.

Market data also showed increased activity at the official window, with interbank turnover rising significantly compared with the previous session, indicating stronger trading volumes in the foreign exchange market.

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The Central Bank maintains that the NFEM exchange rate is determined using a volume-weighted average of completed transactions and serves as Nigeria's official benchmark exchange rate.

Analysts say the naira's direction in the coming days will depend on foreign exchange inflows, market liquidity, demand from importers, and ongoing monetary and fiscal policies aimed at improving stability in the currency market.