The Nigerian naira traded within a narrow range against the United States dollar on Tuesday, June 2, 2026, across both the official and parallel foreign exchange markets, as traders monitored liquidity levels and demand pressures.
According to data from the Central Bank of Nigeria (CBN), the latest exchange rate at the Nigerian Foreign Exchange Market (NFEM) closed at ₦1,373.25 per dollar. The official market has maintained relative stability in recent trading sessions, supported by consistent forex inflows and measures aimed at boosting market liquidity.
Market data also showed the naira exchanging between ₦1,370 and ₦1,372 per dollar in official transactions on June 2.
In the parallel market, also known as the black market, the dollar traded at about ₦1,395 for buying and ₦1,405 for selling on Tuesday morning. Other market trackers reported rates around ₦1,385 per dollar in informal trading across major commercial hubs, including Lagos.
The difference between official and parallel market rates remained narrower than in previous months, reflecting ongoing efforts to improve foreign exchange availability and strengthen market transparency.
Analysts said the naira’s performance in the coming days will largely depend on forex inflows, import demand, external reserve levels and overall market sentiment.
As of Tuesday, the official exchange rate stood at approximately ₦1,373.25 per dollar, while parallel market rates ranged between ₦1,395 and ₦1,405.
Foreign exchange rates may vary slightly depending on transaction size, location and dealer margins.