**Dollar Crashes? Latest Naira Exchange Rate For July 26

According to market information obtained by Ireporter Online from Bureau De Change (BDC) operators, these rates reflect the prevailing prices at which traders exchanged the dollar in the unofficial forex market.

Despite the continued activity in the parallel market, the Central Bank of Nigeria (CBN) has reiterated that it does not recognise black market foreign exchange transactions. The apex bank has consistently advised Nigerians seeking foreign currency to conduct their transactions through authorised banks and approved financial institutions.

Meanwhile, data from the official market showed that the dollar traded within a range of ₦1,359 to ₦1,365 under the CBN’s official exchange window.

Market analysts also noted that exchange rates may differ across locations and dealers, meaning the actual buying or selling price of foreign currency could vary depending on market conditions and negotiations.