The Nigerian currency 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 (NFEM), the naira was quoted at around ₦1,373 per dollar, based on the latest available official market data published by the Central Bank of Nigeria and market trackers. The official market has largely remained within the ₦1,370–₦1,375 range in recent trading sessions, reflecting continued stability in the formal forex market.
Data from the Central Bank of Nigeria showed the official exchange rate closing at approximately ₦1,373.25 per dollar, with market trades ranging between ₦1,372 and ₦1,375.
In the parallel market, commonly known as the black market, the dollar exchanged at about ₦1,375–₦1,395 for buying and between ₦1,385 and ₦1,405 for selling, depending on location, transaction volume and dealer quotations.
Currency monitoring platforms indicated that the spread between the official and parallel market rates remained relatively tight, suggesting improved liquidity conditions compared with wider gaps seen in previous months.
Analysts say the naira’s recent stability has been supported by sustained foreign exchange market reforms, improved transparency in price discovery and periodic interventions aimed at boosting liquidity in the market. However, demand pressures from importers, manufacturers and other end-users continue to influence exchange rate movements.
As of today, June 4, 2026, the official NFEM exchange rate stood at about ₦1,373/$, while the parallel market rate traded around ₦1,385–₦1,405/$, depending on the dealer and location.
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