Naira's value against the US Dollar as of June 5, 2026

The Nigerian naira exhibited a notable degree of stability in its valuation against the United States dollar across both official and unofficial foreign exchange markets, as market players closely observed fluctuations in liquidity and demand.

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This stability was reflected in data from the Central Bank of Nigeria's Nigerian Foreign Exchange Market, which indicated the naira was trading at approximately ₦1,361 to the dollar, marking a consistent trend in comparison to preceding sessions.

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The most recently published NFEM rate by the Central Bank of Nigeria was roughly ₦1,361.05 per dollar, with trading throughout the week oscillating within the narrow range of ₦1,359 to ₦1,365.

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Analysis of market data from recent official trading sessions revealed a moderate strengthening of the naira in early June, driven by an increase in foreign exchange supply and sustained Central Bank interventions aimed at bolstering market liquidity.

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In the parallel, or black, market, the US dollar was traded at a range of ₦1,390 to ₦1,405 on Friday, with the specific rate dependent on the location of the transaction and its size.

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Market observers reported purchasing rates spanning from ₦1,380 to ₦1,395 and selling rates between ₦1,393 and ₦1,405 per dollar, highlighting the ongoing dynamics of the parallel market.

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The disparity between official and parallel market exchange rates remained relatively narrow compared to previous months, underscoring efforts to enhance transparency and liquidity within the foreign exchange market.

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According to currency dealers, market participants remain vigilant regarding foreign portfolio inflows, crude oil earnings, and Central Bank policies, all of which are anticipated to significantly influence the naira's trajectory in the forthcoming weeks.

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As of June 5, 2026, the exchange rate in the official NFEM market stood at about ₦1,361 per dollar, while transactions in the parallel market ranged from approximately ₦1,390 to ₦1,405 per dollar.