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The Nigerian naira ended July 2026 on a weaker note at the official foreign exchange market, closing at ₦1,368.22 per US dollar on Friday. According to data from the Central Bank of Nigeria (CBN), the local currency depreciated by ₦1.50 (0.1%) from ₦1,366.72/$ recorded on Thursday, extending its gradual decline throughout the week.
Despite remaining relatively stable for most of the month, the naira recorded consecutive daily losses during the final trading week. It opened the week at ₦1,362.20/$ on Monday before weakening to ₦1,365.53/$ on Tuesday, ₦1,366.71/$ on Wednesday, ₦1,366.72/$ on Thursday, and finally ₦1,368.22/$ on Friday. The movement comes amid the CBN’s ongoing foreign exchange reforms aimed at improving liquidity and market transparency.
Market observers say the latest depreciation reflects continued pressure in the foreign exchange market despite policy efforts to stabilise the naira. While the month ended with only marginal losses, analysts note that sustaining exchange rate stability will depend on stronger foreign currency inflows, improved investor confidence and the continued implementation of monetary and foreign exchange reforms.
