The naira traded within a relatively stable range against the United States dollar on Thursday, June 4, 2026, as the gap between the official and parallel foreign exchange markets remained narrow.
At the Nigerian Foreign Exchange Market, the local currency was quoted at about ₦1,373 to the dollar, according to the latest official market figures released by the Central Bank of Nigeria and other market monitoring platforms.
The official foreign exchange market has largely remained within the ₦1,370 to ₦1,375 band in recent trading sessions, reflecting sustained stability in the formal segment of the market.
Data published by the Central Bank of Nigeria showed that the official exchange rate closed at approximately ₦1,373.25 per dollar, with transactions during the trading session occurring within a range of ₦1,372 and ₦1,375 per dollar.
In the parallel market, popularly referred to as the black market, the dollar traded at between ₦1,375 and ₦1,395 for buying transactions, while selling rates ranged from ₦1,385 to ₦1,405, depending on location, transaction size and dealer quotations.
Information from currency monitoring platforms showed that the difference between official and parallel market rates remained relatively narrow, indicating improved liquidity conditions compared with the significantly wider margins recorded in previous months.
Market analysts attributed the naira’s recent stability to ongoing foreign exchange market reforms, greater transparency in exchange rate determination and periodic interventions designed to improve liquidity within the market.
Despite the improved stability, analysts noted that demand from importers, manufacturers and other end-users continues to exert pressure on the foreign exchange market and remains a key factor influencing exchange rate movements.
As of June 4, 2026, the official NFEM exchange rate stood at about ₦1,373 per dollar, while the parallel market rate traded within the ₦1,385 to ₦1,405 per dollar range, depending on the location and dealer involved in the transaction.
