Naira Records Slight Decline at Official Foreign Exchange Market
The Nigerian naira experienced a marginal depreciation against the United States dollar at the official foreign exchange window, closing at approximately ₦1,365 per dollar after trading on July 28, 2026. This represents a drop of about ₦3.3 compared to the previous trading day, when the currency exchanged at a slightly stronger rate. Data from the Nigerian Foreign Exchange Market indicates that the naira opened and traded within a narrow range before settling at the lower value, reflecting mild pressure on the local currency.
In the parallel market, exchange rate movements showed a relatively stable trend. The buying rate remained unchanged, while the selling rate improved slightly compared to the preceding day’s figures. Reports from market trackers indicated that the naira traded at around ₦1,405 for buying and ₦1,415 for selling against the dollar in that segment.
Overall, the day’s performance highlights continued fluctuations in the foreign exchange market, with the naira showing minor weakness at the official window despite modest adjustments in the parallel market.
