Naira Holds Steady Against Dollar Across Official, Parallel Markets

The naira remained largely unchanged against the United States dollar on June 3, 2026, with exchange rates showing continued stability in both the official and parallel foreign exchange markets.

Latest figures from the Nigerian Foreign Exchange Market (NFEM) placed the official exchange rate at about ₦1,373.25 per dollar, maintaining levels seen in recent trading sessions.

The official rate, which reflects the volume-weighted average exchange rate recognised by the Central Bank of Nigeria, remained within the ₦1,370–₦1,375 band, according to market data and currency-tracking platforms.

Meanwhile, activity in the parallel market showed the dollar trading at approximately ₦1,375 for purchases and between ₦1,385 and ₦1,400 for sales, depending on dealer quotations, location and transaction volume.

The relatively small difference between official and black-market rates has continued in recent months, a development analysts link to improved forex liquidity and reforms introduced to strengthen transparency and efficiency in the foreign exchange market.

Using prevailing exchange rates, $100 would convert to about ₦137,325 through the official market, while the same amount could yield between ₦138,500 and ₦140,000 in the parallel market.

Market observers note that exchange rates may vary during the day in response to changing demand, supply conditions and broader market developments.

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