Naira Holds Firm as Dollar Rate Stays Within Key Range

Posted by Chinenye on Wed 10th Jun, 2026 - tori.ng

The Nigerian naira showed fresh signs of stability against the US dollar, with only slight movements recorded across major foreign exchange markets

(Dollar to Naira. Photo Credit: Nairacompare)

The Nigerian naira remained largely stable against the United States dollar on Wednesday, June 10, 2026, across both the official and parallel markets, as participants kept a close watch on liquidity conditions and foreign exchange demand.

Data from the Central Bank of Nigeria's exchange rate portal indicated that the official Nigerian Foreign Exchange Market (NFEM) rate closed at approximately ₦1,360.55 per dollar on June 9 the latest available official figure compared with a previous close of ₦1,359.50 per dollar, reflecting only marginal movement.

In the parallel market, the dollar exchanged at between ₦1,390 and ₦1,405 per dollar, varying by location and transaction volume.

Average buying rates were reported around ₦1,390–₦1,395, while selling rates hovered around ₦1,400–₦1,405.

The spread between the official and parallel market rates remained relatively narrow at roughly ₦30 to ₦45 per dollar, pointing to improved market convergence compared with the wider gaps recorded in previous years.

Exchange rate summary for June 10, 2026:

Official NFEM rate: approximately ₦1,360.55/$
Parallel market buying rate: approximately ₦1,390–₦1,395/$
Parallel market selling rate: approximately ₦1,400–₦1,405/$

Recent market data also showed the naira making modest gains in the official market over the past week, with the dollar trading within the ₦1,360–₦1,375 range.

Currency dealers noted that actual rates may differ across cities and individual transactions, depending on demand, supply, and transaction size.