The naira closed at ₦1,381.00/$1 in the NAFEM window on Thursday, improving from ₦1,383.50/$1 recorded a day earlier. The ₦2.50 gain, representing a 0.18% appreciation, suggests continued stability in the formal foreign exchange market.
In the parallel market, the exchange rate remained unchanged at ₦1,413.00/$, indicating steady demand and supply conditions despite persistent pressure on foreign currency liquidity.
Other major currencies also showed limited movement in the informal market. The British pound sterling held steady at ₦1,871.00/£1, while the euro traded at ₦1,601.00/€1, a marginal improvement of ₦1.00 or 0.06% from the previous trading session. The Canadian dollar remained stable at ₦1,055.00/C$1.
External Reserves Edge Higher
Nigeria’s external reserves also recorded a slight increase, rising to $51.893 billion as of July 15, 2026, compared with $51.868 billion on July 14. The 0.05% increase strengthens the country’s foreign exchange buffer and provides additional support for exchange rate management.
The latest reserves data follows recent improvements in Nigeria’s external position, supported by stronger oil receipts, improved foreign exchange inflows and ongoing Central Bank of Nigeria (CBN) reforms aimed at enhancing market liquidity.
The combination of a firmer NAFEM exchange rate, stable parallel market pricing and a gradual increase in external reserves points to a relatively calm foreign exchange market.
