Naira Records Fresh Gain at Official FX Window
The Nigerian naira extended its positive performance against the United States dollar on Wednesday, June 3, 2026, at the official foreign exchange market.
Data released by the Central Bank of Nigeria showed that the naira traded at N1,361.0479 per dollar at the Nigerian Foreign Exchange Market (NFEM).
Furthermore, the local currency closed the trading session at N1,360.2200 per dollar, reflecting continued stability in the official market.
Local Currency Appreciates by More Than N5
The naira began trading for the week on June 1 with an NFEM rate of N1,366.7950 per dollar.
However, Tuesday’s trading figures showed further improvement in the value of the local currency.
Consequently, the naira appreciated by more than N5 against the US dollar compared to the previous trading session.
The development highlights sustained support for the currency amid ongoing efforts to improve foreign exchange liquidity.
Parallel Market Shows Mixed Movement
Meanwhile, activity in the parallel market also reflected changes in exchange rates.
According to market data from Aboki FX, the naira exchanged at N1,387 per dollar for buying transactions on Tuesday.
Similarly, the selling rate stood at N1,395 per dollar.
Compared to rates recorded on June 1, the buying rate increased by N2, while the selling rate rose by N5.
Narrow Gap Between Official and Parallel Markets
In addition, the gap between the official and parallel market rates remained relatively moderate.
Analysts believe improved foreign exchange inflows and policy measures continue to support market stability.
As a result, the naira has maintained a stronger position in recent trading sessions.
Market observers will continue to monitor liquidity levels, investor sentiment, and foreign exchange supply trends in the coming days.
