The Nigerian naira remained relatively stable against the United States dollar on Tuesday, June 9, 2026, across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, supported by ongoing efforts to boost liquidity and strengthen confidence in the foreign exchange market.
According to data from the Central Bank of Nigeria’s exchange rate portal, the official NFEM rate stood at approximately ₦1,362.21 per dollar during the latest trading session. The market closed at around ₦1,365/$, with transactions recorded within the ₦1,360–₦1,366 range.
Market indicators on June 9 showed the naira sustaining its recent gains, with the USD/NGN exchange rate hovering around ₦1,360.12 per dollar in the official market. Analysts attributed the currency’s improved performance to increased foreign exchange inflows and better market liquidity, which have strengthened the naira over the past month.
In the parallel market, commonly known as the black market, the dollar traded at approximately ₦1,390/$ for buying and ₦1,400/$ for selling on Tuesday. This placed the gap between the official and parallel market rates at roughly ₦35–₦40 per dollar.
The relatively narrow spread between both markets points to continued exchange-rate convergence, a trend driven by ongoing reforms in Nigeria’s foreign exchange framework and improved access to foreign currency. Recent market reports indicate that the naira recorded a series of gains in early June before stabilising in the current trading week.
Currency traders noted that demand from importers and businesses remained moderate, helping the local currency maintain its position despite persistent foreign exchange requirements from manufacturers, travellers, and other end users.
Exchange Rates as of June 9, 2026
- Official NFEM rate: approximately ₦1,362.21/$
- Official market closing rate: approximately ₦1,365/$
- Parallel market buying rate: approximately ₦1,390/$
- Parallel market selling rate: approximately ₦1,400/$
Foreign exchange rates may vary across banks, bureaux de change, and regions depending on prevailing market conditions, transaction volumes, and demand levels.
