The Nigerian naira traded relatively stable against the United States dollar on Tuesday, June 9, 2026, across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, amid continued efforts to sustain liquidity in the foreign exchange market.
Data from the Central Bank of Nigeria’s exchange rate portal showed that the official NFEM rate stood at approximately ₦1,362.21 per dollar as of the latest available trading session, with the closing rate around ₦1,365.00/$ and the market recording transactions within the ₦1,360–₦1,366 range.
Market indicators on June 9 also showed the naira maintaining its recent gains, with the USD/NGN exchange rate hovering around ₦1,360.12 per dollar in the official market. Analysts noted that the local currency has strengthened over the past month as foreign exchange supply improved.
In the parallel market, commonly referred to as the black market, the dollar was exchanged at about ₦1,400 per dollar for selling and around ₦1,390 per dollar for buying on Tuesday. This reflects a gap of roughly ₦38 between the official and parallel market rates.
The relatively narrow spread between both markets suggests continued convergence in exchange rates, a trend that has been supported by reforms in Nigeria’s foreign exchange framework and improved market liquidity. Recent reports indicated that the naira had recorded a series of gains in early June before stabilising this week.
Currency traders said demand from importers and businesses remained moderate, helping the naira maintain its position despite persistent pressure for foreign exchange from manufacturers, travellers and other end users.
As of today, the prevailing rates are:
Official NFEM rate: about ₦1,362.21/$
Official market closing rate: about ₦1,365/$
Parallel market buying rate: about ₦1,390/$
Parallel market selling rate: about ₦1,400/$
Foreign exchange rates may vary across banks, bureaux de change and regions depending on demand and transaction volume.
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