The Nigerian naira maintained relative stability against the United States dollar on Wednesday, June 3, 2026, in both the official and parallel foreign exchange markets as traders monitored forex liquidity and demand trends.
At the Nigerian Foreign Exchange Market (NFEM), the latest available figures showed the naira exchanging at about ₦1,373.25 per dollar, unchanged from recent trading sessions. The rate represents the volume-weighted average exchange rate recognised by the Central Bank of Nigeria (CBN).
Data from currency monitoring platforms also showed the official exchange rate fluctuating within the ₦1,370 to ₦1,375 range, reflecting continued stability in the formal forex market.
In the parallel market, also known as the black market, the dollar traded at around ₦1,375 for buying and between ₦1,385 and ₦1,400 for selling, depending on location, transaction size and dealer pricing.
The difference between official and parallel market rates remained relatively small, extending a trend seen in recent months. Market analysts linked the narrowing gap to improved foreign exchange liquidity and ongoing reforms aimed at enhancing transparency in the forex market.
At the prevailing rates, $100 would be worth about ₦137,325 at the official NFEM rate, while the same amount could attract between ₦138,500 and ₦140,000 in the parallel market.
Foreign exchange rates may vary during the day depending on market conditions, supply and demand dynamics, and dealer quotations.