The Nigerian naira traded at relatively stable levels against the United States dollar on Monday, June 22, 2026, as both the official and parallel foreign exchange markets maintained a narrow gap.
Data from the Nigerian Foreign Exchange Market (NFEM) showed that the official exchange rate stood at about ₦1,363.41 per US dollar during Monday’s trading session. The figure represents the volume-weighted average exchange rate used by the Central Bank of Nigeria as the official benchmark.
In the parallel market, commonly referred to as the black market, the dollar traded between ₦1,390 and ₦1,400, depending on location, transaction size, and dealer pricing across major cities such as Lagos, Abuja, and Port Harcourt.
At the current rates, $100 would exchange for about ₦136,341 at the official NFEM rate and approximately ₦140,000 in the parallel market.
The difference between official and parallel market rates has narrowed considerably compared to previous years, reflecting the effect of ongoing foreign exchange reforms introduced by the Central Bank to improve liquidity and strengthen the market.
Recent policy measures, including the liberalisation of foreign exchange rules for exporters, are aimed at increasing dollar inflows and boosting investor confidence in the naira.
Analysts said the naira’s performance in the coming weeks will largely depend on foreign exchange supply, oil export revenue, diaspora remittances, and the Central Bank’s monetary policies.
They also noted that exchange rates may vary slightly across banks, bureaux de change, and parallel market dealers due to market conditions and transaction volumes.