The naira maintained a relatively stable performance against the United States dollar on Thursday, June 4, 2026, with a narrow gap between the official and parallel foreign exchange markets.
At the Nigerian Foreign Exchange Market (NFEM), the local currency traded at about ₦1,373 to the dollar, according to the latest figures from the Central Bank of Nigeria and market trackers. The official exchange rate has remained largely within the ₦1,370 to ₦1,375 range in recent days, indicating continued stability in the formal foreign exchange market.
CBN data showed that the official rate closed at approximately ₦1,373.25 per dollar, with transactions recorded between ₦1,372 and ₦1,375 during the trading session.
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aira appreciates to N1,385/$ in parallel market
In the parallel market, also known as the black market, the dollar traded between ₦1,375 and ₦1,395 for buying, while selling rates ranged from ₦1,385 to ₦1,405, depending on location and transaction volume.
Market observers noted that the difference between official and parallel market rates remained relatively small compared to previous months, a development attributed to improved liquidity and ongoing reforms in the foreign exchange sector.
Analysts said recent stability in the naira has been supported by measures aimed at improving transparency in the market, strengthening price discovery mechanisms and boosting forex liquidity. However, demand from importers, manufacturers and other businesses continues to influence exchange rate movements.
As of Thursday, the official exchange rate stood at around ₦1,373 per dollar, while the parallel market rate hovered between ₦1,385 and ₦1,405 per dollar, depending on dealer quotations and location.
