The Nigerian naira traded relatively stable against the United States dollar on Wednesday, June 10, 2026, across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, as market participants continued to monitor liquidity conditions and foreign exchange demand.
Data from the Central Bank of Nigeria’s exchange rate portal showed that the official NFEM rate closed at approximately ₦1,360.55 per dollar on June 9, the latest available official rate, compared with a closing rate of ₦1,359.50 per dollar, indicating only marginal movement in the market. The volume-weighted NFEM rate remains the official benchmark for foreign exchange transactions in Nigeria.
In the parallel market, also known as the black market, the dollar was exchanged at between ₦1,390 and ₦1,405 per dollar, depending on location and transaction volume. Market trackers reported average buying rates around ₦1,390–₦1,395 and selling rates around ₦1,400–₦1,405 on June 10.
The gap between the official and parallel market rates remained relatively narrow at about ₦30 to ₦45 per dollar, reflecting improved market convergence compared with wider spreads seen in previous years.
Exchange rate summary for June 10, 2026:
- Official NFEM rate: about ₦1,360.55/$
- Parallel market buying rate: about ₦1,390–₦1,395/$
- Parallel market selling rate: about ₦1,400–₦1,405/$
Recent market data also showed the naira strengthening modestly in the official market over the past week, with the dollar trading within the ₦1,360–₦1,375 range.
Currency dealers noted that actual exchange rates may vary across cities and individual transactions due to differences in demand, supply and transaction size.
