Dollar to Naira Exchange Rate Today, July 24, 2026: Naira Strengthens on Both Official and Parallel Markets
Another good day for the naira. Nigeria's currency kept gaining ground against the greenback on Friday, extending a winning streak that's now stretched several days in a row. Here's what you need to know about today's dollar to naira rate, whether you're tracking the official market or the street rate.
What's the official dollar to naira rate today?
On the official Nigerian Foreign Exchange Market (NFEM), the dollar traded at roughly ₦1,369.92 per dollar on July 24, 2026. Some trackers put it even a touch lower: ₦1,367.76 to the dollar, marking the seventh straight session of naira appreciation. Seven days of gains in a row is a solid run for a currency that's had a rough couple of years against the dollar.
At that rate, $100 converts to about ₦136,992, and $1,000 comes out to roughly ₦1.37 million.
And on the black market?
On the parallel market — the one most everyday Nigerians actually use to change money — the dollar still costs a bit more than the official rate, as usual. The dollar was trading around ₦1,420 there. Other trackers logged a slightly different range for the day: ₦1,415 sell and ₦1,406.50 buy.
That puts the gap between the two markets at roughly ₦40-50 — a fairly narrow spread by recent standards, which is generally a good sign.
A weekly trend, not just a one-off
Zooming out to the past seven days, the picture is clear: the naira gained ₦18.19 on the official market and ₦15 on the parallel market compared to the previous week. This isn't a fluke — it's a real trend.
The rally is happening against a backdrop of healthy reserves: the country's foreign reserves stood at $52.02 billion as of July 23, 2026, giving the Central Bank of Nigeria (CBN) more room to support the currency.
Why is the naira doing better right now?
A few things are driving the improvement. The gap between the official and parallel rates has narrowed compared to previous years, a sign that ongoing FX market reforms are starting to pay off. At the same time, global crude oil prices pulled back after climbing above $100 a barrel, easing some pressure on Nigeria's oil-dependent public finances.
On the flip side, there's a new headwind to watch: the United States announced a 12.5% tariff on imports from Nigeria, part of a broader measure hitting around 60 trading partners. Worth keeping an eye on how that plays out for trade flows in the coming weeks.
Today's rates at a glance
Official market (NFEM): ₦1,367 – ₦1,370 per dollar
Parallel / black market: ₦1,406 – ₦1,420 per dollar
Trend: 7th consecutive session of naira gains
FX reserves: roughly $52 billion
For any business importing, exporting, or transacting with Nigeria, moves like this are worth watching closely. A stronger naira lowers import costs but can squeeze exporters' competitiveness. Definitely one to track day by day.
Rates are for informational purposes as of July 24, 2026; currency markets change continuously.
Tags: #ExchangeRate #DollarToNaira #Nigeria #Business #Economy #NairaExchangeRate #USDNGN
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