Naira Holds Steady as Dollar Trades Around ₦1,370–₦1,405 Across Markets

(Naira and Dollar. Photo by nairacompare)

On Tuesday, June 2, 2026, traders continued to keep an eye on forex liquidity and demand circumstances as the Nigerian naira moved within a comparatively stable range against the US dollar on both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market.

Based on the most current available trading numbers, the Central Bank of Nigeria (CBN) said that the official NFEM exchange rate was ₦1,373.25 per dollar.

Due to consistent foreign exchange inflows and regulatory actions meant to increase liquidity, the official market has been rather stable in recent sessions.

In official market transactions on June 2, market data trackers also revealed that the naira was trading between ₦1,370 and ₦1,372 versus the dollar.

On Tuesday morning, the dollar traded at roughly ₦1,395 for purchases and ₦1,405 for sales on the parallel market, also referred to as the "black market," indicating a premium over the official rate.

In informal trade across major commercial centers, including Lagos, other market watchers quoted the dollar at about ₦1,385.

In comparison to levels observed in prior months, the difference between the official and parallel market rates stayed quite small, suggesting ongoing efforts to enhance currency supply and market transparency.

According to analysts, foreign exchange inflows, import demand, external reserve levels, and general market mood will all influence the naira's trajectory in the days ahead.

One US dollar was worth roughly ₦1,373.25 on the official market, but traders on the secondary market quoted it between ₦1,395 and ₦1,405.

Rates for people and companies looking for foreign exchange may differ slightly based on dealer margins, transaction volume, and location.