Naira's current value against the US Dollar as of June 16, 2026

The Nigerian naira experienced a relatively steady performance against the United States dollar on Tuesday, June 16, 2026, with stable exchange rates observed at both the official Nigerian Foreign Exchange Market window and the parallel market.

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According to the Central Bank of Nigeria's exchange rate portal, the naira closed at approximately ₦1,363.83 per dollar at the official NFEM window, maintaining its recent trend.

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The official market has consistently traded within the ₦1,360 range, driven by sustained foreign exchange reforms and improved dollar liquidity.

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In the parallel market, also known as the black market, the exchange rate stood at around ₦1,390 for buying and ₦1,400 for selling on Tuesday, as reported by multiple market trackers.

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This results in a premium of roughly ₦36 per dollar between the official and parallel market rates.

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Currency dealers noted that demand for the US dollar remained steady across major commercial centres, while supply conditions continued to influence pricing in the informal market.

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Market observers have pointed out that the gap between the official and parallel market rates has narrowed significantly compared to previous years, reflecting efforts to improve transparency and liquidity in the foreign exchange market.

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The exchange rate remains a crucial indicator for businesses, importers, manufacturers, and individuals involved in international transactions, as fluctuations in the naira's value directly impact the cost of goods and services.

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As of Tuesday, June 16, 2026, the key exchange rates were: Official NFEM rate: ₦1,363.83/$1, Parallel market buying rate: ₦1,390/$1, and Parallel market selling rate: ₦1,400/$1.

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Analysts anticipate that the naira will continue to respond to foreign exchange inflows, monetary policy measures, and market demand dynamics in the coming days.