Naira exchange value against the US Dollar as of June 4, 2026

The Nigerian currency maintained a relatively stable trajectory against the United States dollar on Thursday, June 4, 2026, with the disparity between the official and parallel foreign exchange markets remaining minimal.

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At the Nigerian Foreign Exchange Market, the naira's value was pegged at approximately ₦1,373 per dollar, based on the latest official market data released by the Central Bank of Nigeria and market trackers.

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The official market has largely fluctuated within a narrow range of ₦1,370 to ₦1,375 in recent sessions, underscoring the continued stability of the formal forex market.

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According to data from the Central Bank of Nigeria, the official exchange rate closed at around ₦1,373.25 per dollar, with market transactions ranging from ₦1,372 to ₦1,375.

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In the parallel market, the dollar was exchanged for approximately ₦1,375 to ₦1,395 for purchases and between ₦1,385 and ₦1,405 for sales, depending on factors such as location, transaction volume, and dealer quotes.

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Currency monitoring platforms noted that the spread between the official and parallel market rates remained relatively narrow, indicating improved liquidity conditions compared to the wider gaps observed in previous months.

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Analysts attribute the naira's recent stability to sustained foreign exchange market reforms, enhanced transparency in price discovery, and periodic interventions aimed at increasing liquidity in the market.

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However, demand pressures from importers, manufacturers, and other end-users continue to exert influence on exchange rate movements.

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As of June 4, 2026, the official NFEM exchange rate stood at approximately ₦1,373 per dollar, while the parallel market rate traded at around ₦1,385 to ₦1,405 per dollar, depending on the dealer and location.