The naira traded at about ₦1,397 per US dollar in the parallel market on Monday, June 15, 2026, while the official exchange rate remained around ₦1,364/$, reflecting a relatively narrow gap between both segments of Nigeria’s foreign exchange market.
Data from the Central Bank of Nigeria (CBN) showed the Nigerian Foreign Exchange Market (NFEM) rate closing at approximately ₦1,364 per dollar in recent trading, reinforcing the relative stability the naira has maintained in the official market in recent weeks.
Meanwhile, figures published by Aboki Forex indicated that the dollar exchanged at around ₦1,397/$ in the parallel market on June 15, with traders continuing to respond to demand from importers, travelers, and individuals seeking foreign currency outside the banking system.
The difference of roughly ₦33 per dollar between the official and parallel market rates suggests a significant convergence compared to previous years when the spread often exceeded several hundred naira.
Analysts attribute the trend to ongoing foreign exchange reforms, improved market liquidity, and efforts by authorities to deepen transparency in the forex market.
Recent market data also indicate that the naira has largely traded within the ₦1,360–₦1,400 range against the dollar, providing businesses and investors with greater predictability in foreign exchange transactions.
Market watchers will continue to monitor dollar liquidity, foreign portfolio inflows, crude oil earnings, and monetary policy decisions, all of which are expected to influence the naira’s performance in the coming weeks.
