The Nigerian naira recorded a relatively stable performance against the United States dollar on Wednesday, June 10, 2026, across both the official and parallel foreign exchange markets, as traders continued to monitor liquidity levels and demand for foreign currency.
Latest data from the Central Bank of Nigeria indicated that the naira closed at approximately ₦1,360.55 per dollar at the Nigerian Foreign Exchange Market (NFEM), compared with a previous closing rate of ₦1,359.50 per dollar, reflecting only a slight movement in the official market. The NFEM rate remains the country’s benchmark exchange rate for official foreign exchange transactions.
At the parallel market, popularly known as the black market, the dollar traded between ₦1,390 and ₦1,405, depending on location and transaction volume. Market sources showed buying rates ranging from ₦1,390 to ₦1,395, while selling rates averaged between ₦1,400 and ₦1,405 per dollar.
The spread between the official and parallel market rates remained within the range of ₦30 to ₦45 per dollar, underscoring a continued convergence between both segments of the foreign exchange market compared to the significantly wider gaps recorded in previous years.
An overview of prevailing rates showed the official NFEM exchange rate at about ₦1,360.55 per dollar, while parallel market buying and selling rates stood at approximately ₦1,390–₦1,395 and ₦1,400–₦1,405 respectively.
Recent market trends indicate that the naira has posted modest gains at the official window over the past week, with exchange rates largely trading within the ₦1,360 to ₦1,375 range.
Currency dealers noted that actual rates may vary across different cities and transactions, depending on prevailing demand, available supply and the size of each transaction.
