The Nigerian naira maintained a relatively stable performance against the United States dollar on Tuesday, June 9, 2026, across both the official and parallel foreign exchange markets, as efforts to strengthen liquidity and stabilise the market continued to yield results.
Figures obtained from the Central Bank of Nigeria’s foreign exchange platform showed the naira trading at about ₦1,362.21 to the dollar at the Nigerian Foreign Exchange Market (NFEM). The official market closed at approximately ₦1,365 per dollar, with transactions during the session ranging between ₦1,360 and ₦1,366.
Market data further indicated that the local currency sustained the gains recorded in recent weeks, with the exchange rate hovering around ₦1,360.12 per dollar at the official window. Financial analysts attributed the currency’s improved position to increased foreign exchange inflows and better supply conditions within the market.
At the parallel market, popularly known as the black market, the dollar traded at around ₦1,390 for buying and ₦1,400 for selling. This left a difference of about ₦38 between rates in the official and unofficial segments of the market.
Analysts noted that the relatively narrow gap between both markets reflects ongoing progress in the convergence of exchange rates, driven by reforms in the foreign exchange system and improved market liquidity. The naira had recorded a series of appreciations earlier in June before settling into its current range.
Foreign exchange dealers said demand from importers and business operators remained moderate, helping to support stability in the market despite continued pressure from manufacturers, travellers and other users seeking foreign currency.
Current market rates indicate the official NFEM exchange rate at approximately ₦1,362.21 per dollar, with the official closing rate standing at about ₦1,365. In the parallel market, buying rates averaged ₦1,390, while selling rates were around ₦1,400 per dollar.
Industry observers, however, noted that exchange rates may vary across banks, bureaux de change and different locations depending on transaction volume, demand levels and prevailing market conditions.
