The Nigerian naira maintained relative stability against the United States dollar on Tuesday, June 2, 2026, across both the official and parallel foreign exchange markets, as traders continued to assess forex liquidity and demand trends.
Data from the Central Bank of Nigeria showed that the naira closed at ₦1,373.25 to the dollar at the Nigerian Foreign Exchange Market (NFEM), with the official rate remaining largely stable in recent trading sessions. Analysts attribute the steady performance to improved foreign exchange inflows and ongoing regulatory measures aimed at boosting market liquidity.
Throughout Tuesday’s trading, the naira hovered between ₦1,370 and ₦1,372 per dollar in official market transactions, reflecting minimal fluctuations.
In the parallel market, also known as the black market, the dollar was traded at around ₦1,395 for buying and ₦1,405 for selling. Some traders in major commercial centres, including Lagos, quoted the dollar at approximately ₦1,385, depending on transaction volume and location.
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The difference between the official and parallel market rates remained relatively narrow compared to previous months, suggesting some improvement in foreign exchange availability and market transparency.
Financial analysts noted that the naira’s performance in the coming days will largely depend on factors such as foreign exchange inflows, import demand, external reserve levels and overall investor confidence.
As of Tuesday, the official exchange rate stood at about ₦1,373.25 per dollar, while rates in the parallel market ranged between ₦1,395 and ₦1,405.
Experts also advised individuals and businesses seeking foreign exchange to note that rates may vary slightly depending on location, transaction size and dealer margins.
