The naira appreciated against the US dollar on Tuesday, July 21, 2026, closing at N1,375.3083 per dollar in the official foreign exchange market.
According to data from the Central Bank of Nigeria (CBN), the currency ended the day at N1,374.5000 per dollar, gaining at least N4.8 from the previous session’s rate of N1,380.1094. This modest improvement reflects continued stability in the official window.
Parallel Market Also Gains
In the informal market, the naira showed similar strength. The buying rate moved to N1,405 per dollar and the selling rate to N1,410 per dollar, both appreciating by N2 compared to Monday’s levels.
The spread between the official and parallel markets remained around N30 per dollar, indicating that while the naira is holding firm, demand pressures in the informal segment persist.
Positive Outlook for Businesses
The simultaneous gains across both markets signal a period of relative stability in Nigeria’s foreign exchange space. For businesses and consumers, the improvement at the official window slightly reduces the cost of dollar-denominated imports.
Market analysts believe that sustained appreciation will depend on consistent dollar supply, stronger foreign exchange inflows, and continued interventions by the Central Bank of Nigeria.
The latest movement suggests cautious optimism in the naira’s performance as the CBN works to maintain orderly trading conditions and support broader economic stability in the coming days.
