Naira Remains Stable at Official Market
The Nigerian naira remained largely stable against the United States dollar on Wednesday, June 10, 2026.
Data from the Central Bank of Nigeria showed that the official NFEM rate closed at ₦1,360.55 per dollar.
Previously, the naira closed at ₦1,359.50/$.
As a result, the market recorded only a slight change.
Black Market Dollar Rate
Meanwhile, the dollar traded higher in the parallel market.
Currency dealers exchanged the dollar between ₦1,390 and ₦1,405.
Buyers purchased the dollar at ₦1,390 to ₦1,395.
Likewise, sellers offered it at ₦1,400 to ₦1,405.
Exchange Rate Summary
Official Market
- NFEM Rate: ₦1,360.55/$
Parallel Market
- Buying Rate: ₦1,390–₦1,395/$
- Selling Rate: ₦1,400–₦1,405/$
Gap Between Markets Stays Narrow
The difference between both markets remained moderate.
Currently, the gap ranges between ₦30 and ₦45 per dollar.
Notably, this spread is much lower than previous years.
Consequently, analysts believe market convergence is improving.
Naira Shows Modest Gains
Over the past week, the naira traded within the ₦1,360 to ₦1,375 range.
Therefore, the local currency has maintained relative stability.
Furthermore, improved liquidity has supported the market.
Traders Monitor Market Conditions
Currency dealers expect rates to vary across locations.
Demand, supply, and transaction volume often influence prices.
Meanwhile, investors continue to watch foreign exchange inflows closely.
The naira’s next movement will likely depend on market liquidity and investor confidence.
