The Nigerian naira wrapped up the week on a relatively stable footing against the United States dollar, trading at ₦1,378.47 to $1 at the official foreign exchange market on Saturday, June 27, 2026.
Market figures showed the local currency maintained relative stability despite minor fluctuations recorded throughout the week. On Friday, the naira closed at ₦1,380.93 per dollar, marking a slight depreciation of 82 kobo or 0.05 per cent compared to Thursday’s closing rate of ₦1,380.10 per dollar. The currency had opened the week at ₦1,369.10 per dollar before experiencing mild weakness in subsequent trading sessions.
At the parallel, or black market, the dollar traded at approximately ₦1,400, creating a gap of about ₦21.53 between the official and unofficial exchange rates.
Analysts linked the naira’s performance to continued interventions by monetary authorities, improved foreign exchange liquidity, and ongoing efforts to stabilise Nigeria’s forex market. However, persistent demand for dollars from importers, manufacturers, and individuals continues to place pressure on the local currency.
The exchange rate remains a crucial indicator for businesses, investors, and individuals involved in international transactions, with market players expected to closely watch developments in the coming week.