The naira maintained a relatively stable performance against the United States dollar at both the official and parallel foreign exchange markets, as traders continued to monitor liquidity conditions and demand pressures across the foreign exchange sector.
Data obtained from the Central Bank of Nigeria’s Nigerian Foreign Exchange Market showed that the local currency traded around ₦1,361 to the dollar, indicating a largely steady trend when compared with recent trading sessions. The latest NFEM exchange rate published by the apex bank stood at approximately ₦1,361.05 per dollar, while transactions during the week were conducted within the ₦1,359 to ₦1,365 range.
Market figures from recent official trading sessions further revealed that the naira recorded modest gains in the early days of June. Analysts attributed the improvement to increased foreign exchange supply and sustained interventions designed to boost liquidity within the market.
At the parallel market, popularly known as the black market, the United States dollar exchanged between ₦1,390 and ₦1,405 on Friday, with rates varying according to location and transaction volume. Market trackers indicated that buying rates ranged from about ₦1,380 to ₦1,395 per dollar, while selling rates stood between ₦1,393 and ₦1,405.
The difference between official and parallel market exchange rates remained relatively narrow when compared with levels recorded in previous months. This development reflected ongoing measures aimed at improving transparency, efficiency and liquidity in the foreign exchange market.
Currency dealers noted that investors and traders remain focused on foreign portfolio inflows, crude oil revenue earnings and policy decisions by the Central Bank of Nigeria, all of which are expected to play significant roles in determining the direction of the naira in the coming weeks.
As of June 5, 2026, the dollar exchanged at approximately ₦1,361 in the official Nigerian Foreign Exchange Market, while transactions in the parallel market ranged between about ₦1,390 and ₦1,405 per dollar.
