Naira Maintains Stability Against US Dollar Amid CBN Reforms

The Nigerian naira maintained stability against the US dollar on July 27, 2026. The official exchange rate remained relatively stable at ₦1,362.09/$1, according to data from the Central Bank of Nigeria (CBN). In the parallel market, also known as the black market, the US dollar was bought for about ₦1,350 and sold for around ₦1,375 on Monday morning.

The difference between the official and parallel market rates remained narrow, indicating continued convergence compared to previous years. The CBN has implemented foreign exchange reforms aimed at improving liquidity, boosting investor confidence, and supporting stability in the naira.

Last week, the Monetary Policy Committee retained the Monetary Policy Rate at 26.5 per cent, citing global economic uncertainties and the need for macroeconomic stability.