The Nigerian naira remained relatively stable against the United States dollar on Wednesday, June 17, 2026, across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, as traders continued to monitor foreign exchange liquidity and demand conditions.
Data from the Central Bank of Nigeria’s exchange rate portal showed that the naira traded around the ₦1,360–₦1,364 range per dollar at the official NFEM window in recent trading sessions. The most recent available official rate stood at approximately ₦1,363.83 per dollar, reflecting continued stability in the formal foreign exchange market.
Market data from other financial platforms also indicated that the official exchange rate has largely remained within the ₦1,350–₦1,375 band in June, supported by improved liquidity and ongoing foreign exchange reforms.
In the parallel market, also known as the black market, the dollar traded between ₦1,395 and ₦1,405, depending on location and dealer. Several market trackers reported buying rates around ₦1,395 and selling rates near ₦1,400–₦1,405 per dollar.
Based on prevailing market rates, $100 would exchange for about ₦136,383 at the official NFEM rate and approximately ₦140,000 in the parallel market. The spread between the two markets has remained relatively narrow compared with previous years, reflecting improved convergence in Nigeria’s foreign exchange market.
Analysts say the naira’s recent stability has been supported by stronger foreign exchange inflows, improved market confidence and continued policy measures aimed at enhancing transparency and liquidity in the currency market.
Exchange rates may vary across locations, banks, bureaux de change and individual forex dealers, while intraday market movements can also influence quoted prices.
