The Nigerian currency traded within a relatively stable range against the United States dollar on Thursday, June 4, 2026, as the difference between the official and parallel foreign exchange markets stayed relatively narrow.
At the Nigerian Foreign Exchange Market (NFEM), the naira was quoted at around ₦1,373 per dollar, according to the latest official data from the Central Bank of Nigeria and market tracking platforms. In recent sessions, the official market has continued to hover within the ₦1,370–₦1,375 range, reflecting ongoing stability in the formal forex segment.
Data from the Central Bank of Nigeria indicated that the official exchange rate closed at approximately ₦1,373.25 per dollar, with trading activity fluctuating between ₦1,372 and ₦1,375.
In the parallel market, commonly known as the black market, the dollar exchanged at about ₦1,375–₦1,395 for buying and between ₦1,385 and ₦1,405 for selling, depending on location, transaction volume and dealer quotations.
Currency monitoring platforms showed that the gap between the official and parallel market rates remained relatively tight, pointing to improved liquidity conditions compared with wider spreads recorded in previous months.
Analysts attribute the recent stability of the naira to ongoing foreign exchange reforms, better transparency in price discovery and periodic interventions aimed at improving liquidity. However, demand from importers, manufacturers and other users of foreign exchange continues to shape market movements.
As of June 4, 2026, the official NFEM exchange rate stood at about ₦1,373/$, while the parallel market rate traded around ₦1,385–₦1,405/$ depending on dealer and location.