The Nigerian naira traded relatively stable against the United States dollar on Thursday, June 11, 2026, in both the official and parallel foreign exchange markets, as traders continued to assess liquidity levels and demand for foreign currency.
Data from the Nigerian Foreign Exchange Market (NFEM) showed the naira maintaining its position around the ₦1,360 per dollar range, with only slight fluctuations recorded during trading sessions. The official market rate has remained within a narrow band in recent weeks, reflecting improved stability in the country’s foreign exchange sector.
Financial analysts attributed the currency’s steady performance to increased liquidity in the official market and ongoing efforts by monetary authorities to sustain confidence in the forex system. Recent trading records indicate that the naira has largely traded between ₦1,350 and ₦1,370 against the dollar.
In the parallel market, commonly referred to as the black market, the dollar exchanged at between ₦1,395 and ₦1,405, depending on location and transaction volume. Buying rates were reported at approximately ₦1,385 per dollar.
The difference between official and parallel market rates remained relatively narrow, continuing a trend of improved convergence that has been observed in recent months. Market observers noted that better access to foreign exchange through official channels has helped reduce volatility and ease pressure on the naira.
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Despite the relative stability, demand for dollars from importers, travellers and businesses making international payments continues to drive activity in the parallel market.
Exchange Rate Summary (June 11, 2026):
Official NFEM rate: ₦1,360–₦1,366 per dollar
Parallel market buying rate: Around ₦1,385 per dollar
Parallel market selling rate: ₦1,395–₦1,405 per dollar
Foreign exchange rates may vary across banks, Bureau De Change operators and different parts of the country based on market conditions and transaction size.
