The Nigerian naira traded within a relatively stable range against the United States dollar on Tuesday, June 23, 2026, across both the official and parallel foreign exchange markets, as traders continued to assess liquidity levels and demand pressures.
Latest figures from the Nigerian Foreign Exchange Market (NFEM) placed the naira at about ₦1,366.41 per dollar at the official window. The NFEM rate, published by the Central Bank of Nigeria, reflects the volume-weighted average exchange rate for the day.
The official market rate has stayed within the ₦1,350 to ₦1,370 band in recent weeks, supported by improved liquidity conditions and sustained inflows from foreign portfolio investors.
In the parallel market, also known as the black market, the dollar exchanged at around ₦1,400 for buying, while selling rates ranged between ₦1,410 and ₦1,420 depending on location and dealer pricing.
The gap between official and parallel market rates remained relatively narrow compared to previous periods, indicating ongoing efforts to improve transparency and efficiency in the foreign exchange system.
Traders said demand for dollars from importers, travellers, and businesses remained steady, although the naira has benefited from improved supply and growing market confidence.
Analysts added that exchange rates may continue to fluctuate based on foreign inflows, global oil price movements, and domestic economic conditions.
At the current rates, $100 would exchange for about ₦136,641 at the official NFEM window, while the same amount could fetch between ₦141,000 and ₦142,000 in the parallel market.
They noted that rates remain subject to intraday changes and may vary across banks, bureaux de change operators, and other market participants.