Find out more as naira crashes against dollar in official, parallel markets

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The naira closed at N1,379.07 per dollar in the official market on Wednesday, July 8, slipping by N3.32 from Tuesday’s rateIn the parallel market, the dollar exchanged at N1,400, a N5 decline for the naira compared with the previous dayFX analysts remain optimistic about naira stability in H2 2026, pointing to market reforms and stronger external reserves

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The naira fell against the United States dollar in both the official and black market segments of Nigeria’s foreign exchange market on Wednesday, July 8, 2026, even as trading volumes in the interbank window surged sharply.

The Central Bank of Nigeria (CBN) data showed the Nigerian Foreign Exchange Market (NFEM) recorded a closing rate of N1,379.07 per dollar, down from N1,375.75 per dollar on Tuesday.

Naira records strong gains, ranks among Africa’s