The Nigerian naira traded within a relatively stable range against the United States dollar on Tuesday, June 2, 2026, across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, as traders continued to monitor forex liquidity and demand conditions.
According to data published by the Central Bank of Nigeria (CBN), the most recent official NFEM exchange rate stood at ₦1,373.25 per dollar, based on the last available trading figures. The official market has remained largely steady in recent sessions, supported by sustained foreign exchange inflows and regulatory interventions aimed at improving liquidity.
Market data trackers also showed the naira trading around the ₦1,370–₦1,372 range against the dollar in official market transactions on June 2.
In the parallel market, commonly known as the black market, the dollar exchanged at about ₦1,395 for buying and ₦1,405 for selling on Tuesday morning, reflecting a premium over the official rate. Other market monitors quoted the dollar at approximately ₦1,385 in informal trading across major commercial centres, including Lagos.
The gap between the official and parallel market rates remained relatively narrow compared with levels seen in previous months, indicating continued efforts to improve forex supply and market transparency. Analysts say the direction of the naira in the coming days will depend on foreign exchange inflows, import demand, external reserve levels and broader market sentiment.
At the official market, one US dollar was valued at approximately ₦1,373.25, while parallel market traders quoted the currency between ₦1,395 and ₦1,405.
For individuals and businesses seeking foreign exchange, rates may vary slightly depending on location, transaction volume and dealer margins.
