The Nigerian naira maintained relative stability against the United States dollar on Wednesday, June 17, 2026, across both the official and parallel foreign exchange markets.
According to data from the Central Bank of Nigeria, the naira traded within the ₦1,360 to ₦1,364 range at the Nigerian Foreign Exchange Market (NFEM), with the latest official rate standing at about ₦1,363.83 per dollar.
Market analysts noted that the local currency has remained largely stable throughout June, trading within the ₦1,350 to ₦1,375 range, a trend attributed to improved foreign exchange liquidity and ongoing reforms in the sector.
At the parallel market, commonly referred to as the black market, the dollar exchanged between ₦1,395 and ₦1,405, depending on location and individual dealers. Buying rates were generally around ₦1,395, while selling prices ranged from ₦1,400 to ₦1,405 per dollar.
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At the prevailing rates, $100 would be worth approximately ₦136,383 at the official market and around ₦140,000 at the parallel market.
The difference between both markets has continued to narrow compared to previous years, reflecting improved alignment in Nigeria’s foreign exchange system.
Experts say stronger foreign exchange inflows, increased investor confidence and policy measures introduced by the authorities have contributed to the naira’s recent stability.
However, exchange rates may differ across banks, bureaux de change and forex dealers, while intraday market movements could also affect prices.
