Dollar to Naira Black Market Rate Today — Thursday, 23 July 2026

The naira slipped further against the dollar on Thursday, 23 July 2026, with black market rates settling at ₦1,402.67 to buy and ₦1,407.43 to sell, representing a 0.43 percent day-on-day depreciation as demand for the greenback continued to outpace available supply in the parallel segment.

The latest movement widens the gap between the street market and the Central Bank of Nigeria's official window, which is currently anchored at ₦1,365 per dollar according to CBN rates. That spread now stands at roughly ₦42 on the sell side, a margin that analysts say reflects unresolved structural pressures rather than mere speculative activity. When the official and parallel rates diverge at this level, it typically signals that the apex bank's interventions have not been sufficient to fully satisfy legitimate dollar demand flowing through unofficial channels.

The CBN has in recent months pointed to a gradual build-up in external reserves as evidence that its monetary tightening stance is gaining traction. Higher interest rates have been deployed to attract portfolio inflows and reduce inflationary pressure on the naira. Yet the persistence of a meaningful parallel premium suggests that a portion of the import-dependent economy still cannot access forex at the official window efficiently, compelling businesses and individuals to turn to the street market. Until the central bank can deepen liquidity at the Investors and Exporters window and accelerate the clearance of verified dollar backlogs, that premium is unlikely to collapse entirely.

Other major currencies tracked in the parallel market tell a similar story of naira softness. The British pound was exchanged at ₦1,896.77 to buy and ₦1,926.41 to sell; full details are available on the pounds to naira page. The euro was quoted at ₦1,592.74 to buy and ₦1,617.44 to sell on the dollar to naira tracker, where cross-rate movements are also monitored. These rates indicate that naira weakness is broad-based rather than isolated to the dollar pair, reinforcing the view that the underlying supply-demand imbalance is the primary driver.