The Nigerian naira traded with relative stability against the United States dollar on Thursday, June 11, 2026, across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, as traders 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 remained around the ₦1,360 per dollar mark in recent trading sessions, with the exchange rate fluctuating within a narrow band as market participants adjusted to prevailing supply and demand dynamics. The NFEM rate remains the country’s official benchmark exchange rate and is derived from volume-weighted transactions in the foreign exchange market.
Market analysts said the naira’s performance has been supported by improved liquidity in the official market and continued efforts by monetary authorities to sustain stability in the foreign exchange sector. Recent market data indicate that the currency has traded largely within the ₦1,350–₦1,370 range against the dollar in the official window.
In the parallel market, also known as the black market, currency traders quoted the dollar at about ₦1,395 to ₦1,405 per dollar, depending on location, transaction volume and prevailing market conditions. Buying rates were reported at around ₦1,385 per dollar.
The gap between the official and parallel market rates remains relatively narrow compared with previous years, reflecting greater convergence in Nigeria’s foreign exchange market. Analysts noted that sustained liquidity in the official window and improved confidence among market participants have helped reduce volatility in recent months.
Market analysts said the naira’s performance has been supported by improved liquidity in the official market and continued efforts by monetary authorities to sustain stability in the foreign exchange sector. Recent market data indicate that the currency has traded largely within the ₦1,350–₦1,370 range against the dollar in the official window.
In the parallel market, also known as the black market, currency traders quoted the dollar at about ₦1,395 to ₦1,405 per dollar, depending on location, transaction volume and prevailing market conditions. Buying rates were reported at around ₦1,385 per dollar.
The gap between the official and parallel market rates remains relatively narrow compared with previous years, reflecting greater convergence in Nigeria’s foreign exchange market. Analysts noted that sustained liquidity in the official window and improved confidence among market participants have helped reduce volatility in recent months.
