The Nigerian naira remained largely stable against the United States dollar on Tuesday, June 16, 2026, across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, as improved liquidity and ongoing foreign exchange reforms continued to support relative calm in the currency market.
Data published on the Central Bank of Nigeria’s exchange rate portal showed the naira closing at ₦1,363.83 per dollar at the official NFEM window, extending the pattern of stability recorded in recent trading sessions. The currency has continued to trade within the ₦1,360 range in the official market amid sustained policy measures aimed at enhancing transparency and boosting foreign exchange supply.
In the parallel market, commonly referred to as the black market, the dollar traded at about ₦1,390 for buying and ₦1,400 for selling, according to market sources. This leaves the gap between the official and parallel market rates at approximately ₦36 per dollar, a considerably narrower spread than seen in previous years.
Traders said demand for the US currency remained steady across major commercial hubs, while supply levels continued to shape pricing in the informal market. Analysts noted that the reduced disparity between official and parallel market rates reflects ongoing efforts by authorities to improve liquidity, strengthen market confidence and encourage greater convergence in the foreign exchange market.
The exchange rate remains a critical economic indicator, influencing business operations, import costs, manufacturing expenses and the prices paid by consumers. Any movement in the value of the naira has a direct impact on the cost of goods and services, making currency performance closely watched by investors, businesses and households alike.
As of Tuesday, June 16, 2026, the official NFEM exchange rate stood at ₦1,363.83 per dollar, while the parallel market rate was approximately ₦1,390 per dollar for buying and ₦1,400 per dollar for selling.
Looking ahead, market analysts expect the naira’s performance to remain tied to foreign exchange inflows, monetary policy decisions, external market conditions and overall demand for dollars in the economy.
