Nigeria currency exchange rates today ABUJA, Nigeria – The Nigerian naira remained relatively stable on Wednesday, July 8, 2026, as traders monitored activity in both the official Nigerian Foreign Exchange Market (NFEM) and the parallel (black) market.
The official exchange rate closed at approximately ₦1,372.96 per US dollar, while the parallel market continued to trade at a premium due to persistent demand for foreign currency outside the formal banking system.
Meanwhile, the U.S. dollar held near a one-week high in global markets after renewed geopolitical tensions in the Middle East boosted demand for safe-haven assets. Investors also awaited the release of the U.S. Federal Reserve’s latest policy meeting minutes for clues on future interest rate decisions.
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“Exchange rates in the parallel market may vary depending on location, transaction size and individual Bureau de Change operators.”
Today’s Nigeria Exchange Rate Table (July 8, 2026)
| Currency | Official Rate (NGN) | Black Market Buy | Black Market Sell |
|---|---|---|---|
| 🇺🇸 US Dollar (USD) | ₦1,372.96 | ₦1,400 | ₦1,410 |
| 🇬🇧 British Pound (GBP) | ≈₦1,820 | ₦1,860 | ₦1,885 |
| 🇪🇺 Euro (EUR) | ≈₦1,556 | ₦1,580 | ₦1,625 |
| 🇨🇦 Canadian Dollar (CAD) | — | ₦986 | ₦993 |
| 🇦🇺 Australian Dollar (AUD) | Market Rate | Varies | Varies |
| 🇨🇳 Chinese Yuan (CNY) | Market Rate | Varies | Varies |
Cryptocurrency Market Snapshot
| Cryptocurrency | Trend Today |
|---|---|
| ₿ Bitcoin (BTC) | ▼ Slightly Lower |
| Ξ Ethereum (ETH) | ▼ Slightly Lower |
| Tether (USDT) | ≈ $1.00 |
| USD Coin (USDC) | ≈ $1.00 |
| BNB | Mixed Trading |
| Solana (SOL) | Mixed Trading |
Bitcoin and Ethereum traded modestly lower during the session as investors shifted toward the U.S. dollar following rising geopolitical tensions. Stablecoins such as USDT and USDC remained close to their one-dollar peg.
Market Outlook
Going forward, analysts expect the naira to remain broadly stable provided foreign exchange liquidity improves and demand remains contained. However, traders will continue to monitor global oil prices, geopolitical developments, inflation data and future monetary policy decisions from major central banks.
Because black market rates change several times during the day, Nigerians are advised to confirm prices with licensed Bureau de Change operators before completing any transaction.
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