Naira Maintains Stability at Official Market
The Nigerian naira traded within a relatively stable range against the United States dollar on Thursday, June 4, 2026.
According to the latest market data, the currency maintained its recent performance as the gap between the official and parallel markets remained narrow.
At the Nigerian Foreign Exchange Market (NFEM), the naira traded at about ₦1,373 per dollar.
Official Rate Remains Within Recent Trading Range
Data released by the Central Bank of Nigeria showed that the official exchange rate closed at approximately ₦1,373.25 per dollar.
Meanwhile, trading activity during the session ranged between ₦1,372 and ₦1,375.
As a result, the official market continued to operate within the ₦1,370–₦1,375 range recorded in recent weeks.
Furthermore, analysts noted that the market has maintained a steady trend despite ongoing demand for foreign exchange.
Parallel Market Records Slight Premium
In the parallel market, also known as the black market, the dollar traded between ₦1,375 and ₦1,395 for buying.
Similarly, selling rates ranged from ₦1,385 to ₦1,405, depending on location, transaction size and dealer quotations.
Consequently, the difference between official and unofficial market rates remained relatively small compared to previous periods.
Improved Liquidity Supports Exchange Rate Stability
According to currency monitoring platforms, the narrow spread reflects improved liquidity conditions across the foreign exchange market.
In addition, market observers attributed the stability to ongoing reforms introduced by the Central Bank of Nigeria.
They also pointed to enhanced transparency in price discovery and periodic liquidity support measures.
Demand Pressures Still Influence Market Direction
However, analysts cautioned that demand from importers, manufacturers and other end-users continues to affect exchange rate movements.
Therefore, future performance will depend largely on forex inflows, external reserves and overall market sentiment.
Nevertheless, the naira has remained resilient in recent sessions despite these pressures.
Current Exchange Rates
As of June 4, 2026:
- Official NFEM rate: Approximately ₦1,373 per dollar
- Parallel market buying rate: ₦1,375–₦1,395 per dollar
- Parallel market selling rate: ₦1,385–₦1,405 per dollar
Overall, the continued stability suggests that recent forex management measures are helping to reduce volatility and maintain confidence in the market.
