Data from market trackers showed the naira traded within the ₦1,370–₦1,375 range at the Nigerian Foreign Exchange Market (NFEM), reflecting sustained stability in the formal currency market amid ongoing efforts to improve liquidity and strengthen investor confidence.

At the official market rate, $100 exchanged for approximately ₦137,325, indicating a marginal appreciation of the local currency compared with previous trading sessions.

Market analysts attributed the naira’s recent performance to improved foreign exchange supply, tighter market regulation, and growing confidence in the country’s economic reform programme.

Recent market data also showed the USD/NGN exchange rate hovering around the ₦1,367 mark, underscoring the currency’s resilience and extending the positive momentum recorded over the past few trading days.

Meanwhile, activity in the parallel market remained relatively stable. Dealers quoted the dollar between ₦1,375 and ₦1,400, depending on transaction size and location.

The continued appreciation of the naira comes as the federal government maintains that recent economic reforms are helping to stabilise key macroeconomic indicators and restore confidence among domestic and foreign investors.

Financial market observers will be watching closely to see whether the local currency can sustain its current momentum in the coming sessions, particularly as global market conditions and foreign exchange inflows continue to influence exchange rate dynamics.

At the Nigerian Foreign Exchange Market (NFEM), the latest available official data showed the naira trading at approximately ₦1,373.25 per dollar, maintaining the level recorded at the close of the previous trading sessions.

The rate reflects the volume-weighted average exchange rate used by the market and recognised by the Central Bank of Nigeria (CBN).

Market data from currency tracking platforms also indicated that the official exchange rate remained within the ₦1,370–₦1,375 range, highlighting continued stability in the formal forex market.

In the parallel market, commonly known as the black market, the dollar exchanged at about ₦1,375 for buying and between ₦1,385 and ₦1,400 for selling, depending on location, transaction volume and dealer quotations.

The spread between the official and parallel market rates remained narrow, continuing a trend that has persisted in recent months.

Analysts attribute the convergence to improved forex liquidity and ongoing reforms aimed at boosting transparency in the foreign exchange market.

Based on prevailing market rates, $100 would exchange for approximately ₦137,325 at the official NFEM rate, while the same amount could fetch between ₦138,500 and ₦140,000 in the parallel market.

While challenges remain, recent trading patterns suggest that the naira has entered a period of relative stability compared to the heightened volatility witnessed in previous months.

Also, foreign exchange rates are subject to change throughout the trading day based on market conditions, demand, supply dynamics and dealer pricing.

According to regulatory data, the local currency traded at a volume-weighted average rate of ₦1,374.50 at the official Nigerian Foreign Exchange Market (NFEM) window.

This represents a marginal appreciation from the closing rates observed last week, indicating that the central bank’s supply-side market clearing is effectively anchoring institutional demand.

June 1, 2026 FX Market Spreads:

• NFEM Official Window ─> ₦1,374.50
• Parallel Market Buy  ─> ₦1,377.00
• Parallel Market Sell ─> ₦1,388.00

In the parallel market, foreign exchange operators reported parallel stability, with the dollar exchanging at a buying rate of ₦1,377 and a retail selling price of ₦1,388.

The spread between the official and parallel market windows remains exceptionally narrow, hovering around a healthy 1% margin.

Market analysts attribute this tight convergence to the elimination of speculative trading loops and an uptick in retail liquidity, which has significantly checked the panic-buying tendencies historically seen at the start of a new fiscal month.

Supply Outlook and Corporate Impact

Bureau de Change (BDC) operators note that while demand for invisible transactions, asuch as international tuition payments and summer travel allowances, remains seasonally active, the systematic distribution of foreign exchange across counter channels has successfully checked major rate distortions.

For Nigerian businesses, manufacturers, and multinational tech firms managing dollar-denominated license fees, the prolonged stability of the currency within the ₦1,360 to ₦1,390 corridor provides a critical buffer for corporate treasury management.

However, macroeconomic experts maintain that sustaining this stability through the rest of the second quarter will depend heavily on the continuous accumulation of Nigeria’s foreign reserves via crude oil receipts and non-oil export optimization.

Data from the Central Bank of Nigeria (CBN) confirmed that the dollar traded at a volume-weighted average rate of ₦1,375.41 at the official NFEM window, indicating horizontal consolidation from preceding sessions.

This stability points to the positive impact of improved foreign exchange inflows and strategic central bank interventions designed to clear outstanding demand backlogs.

In the parallel market, trading activity mirrored this stability. The greenback exchanged at an average buying rate of ₦1,378 and a selling rate of ₦1,390.

Notably, the premium between the official and unofficial windows remains historically narrow. Financial analysts attribute this convergence to enhanced systemic liquidity and a visible rebound in market confidence, which has effectively curbed speculative hoarding.

Market Dynamics and Supply Outlook

Despite the equilibrium, currency traders report that aggregate demand pressure from key economic segments, predominantly manufacturers, technology firms sourcing software licenses, and essential importers, remains robust.

Recent macro trading patterns indicate that the local currency has established a dependable support level, fluctuating within a tight corridor of ₦1,360 to ₦1,390 per dollar across both markets.

For corporate planners and stakeholders in the digital economy, this ongoing stabilization provides a much-needed window for predictable operational budgeting, even as market participants closely monitor the sustainability of the CBN’s supply-side interventions in the coming weeks.

Figures published by the Central Bank of Nigeria indicated that the naira exchanged at approximately ₦1,375.41 per dollar at the official NFEM market, sustaining its recent stable trend.

At the parallel market, also known as the black market, the dollar exchanged at an average selling rate of about ₦1,390 and a buying rate of around ₦1,378 on Thursday morning.

Currency traders attributed the narrow gap between the official and parallel market rates to improved foreign exchange supply and continued reforms introduced by the Central Bank of Nigeria to stabilise the market.

Recent market data also indicated that the naira has largely traded within the ₦1,370 to ₦1,390 band in the past week, reflecting reduced volatility compared to earlier periods of sharp fluctuations.

Financial analysts say investors and businesses continue to monitor liquidity levels, external reserves and monetary policy decisions, which remain key drivers of exchange rate movements in Nigeria’s foreign exchange market.

Meanwhile, the Central Bank of Nigeria has maintained that ongoing reforms in the FX market are aimed at improving transparency, boosting investor confidence and achieving long-term stability for the naira.

At the official market window, the exchange rate hovered around ₦1,370–₦1,374 per US dollar, based on data from the Central Bank of Nigeria and market trackers.

In the parallel market, commonly referred to as the black market, the Dollar exchanged at approximately:

• Buying rate: ₦1,390 per US$1
• Selling rate: ₦1,400 per US$1

Market analysts say the relatively narrow gap between the official and parallel market rates reflects improved FX liquidity and sustained monetary tightening by the Central Bank of Nigeria. However, demand pressure from importers, travelers, tuition payments, and businesses seeking foreign exchange continues to influence market sentiment.

Recent trading trends indicate that the naira has remained within the ₦1,370–₦1,400 range throughout the week, showing moderate stability compared to previous months of sharper volatility.

Snapshot of Today’s Rates

Financial experts advise businesses and individuals involved in international transactions to monitor exchange rate movements closely, as fluctuations in crude oil prices, foreign reserves, and monetary policy decisions could continue to impact the naira in the coming weeks.

Data from the Nigerian Foreign Exchange Market (NFEM) showed the official exchange rate hovering around ₦1,371 per dollar, according to the latest figures published by the Central Bank of Nigeria and market trackers. The market recorded intraday movements between approximately ₦1,369 and ₦1,374 per dollar.

Techeconomy Intelligence gathered at the parallel market, also known as the black market, the dollar exchanged at around ₦1,395 buying rate and ₦1,405 selling rate in major trading hubs including Lagos and Abuja.

The gap between the official market and the parallel market remained relatively narrow compared to previous months, reflecting continued efforts by the Central Bank of Nigeria to improve liquidity and stabilise the foreign exchange market.

Analysts said sustained interventions and improved dollar supply to authorised dealers have helped reduce volatility in recent weeks.

Recent trading sessions have also shown the naira maintaining relative stability within the ₦1,360 to ₦1,380 range at the official window, despite ongoing demand from importers, manufacturers, and individuals seeking foreign exchange for travel and business transactions.

Market watchers, however, noted that global oil price movements, foreign reserve levels, and investor confidence would continue to influence the direction of the naira in the coming days.

According to data from the Central Bank of Nigeria (CBN), the naira exchanged around the ₦1,360/$ range at the Nigerian Foreign Exchange Market (NFEM), reflecting ongoing efforts by monetary authorities to stabilise liquidity and moderate volatility in the forex market.

Intraday trading indicated that the currency moved within a narrow band, suggesting improved market confidence and balanced demand-supply dynamics in the official window.

Analysts said recent policy measures by the CBN, alongside increased market interventions and improved foreign exchange inflows, have helped sustain the naira’s relative stability.

Meanwhile, activity in the parallel market remained closely aligned with official rates at ₦1,375/$ (depending on your location), a development market observers say points to gradual convergence in Nigeria’s foreign exchange ecosystem.

Economic analysts noted that the direction of the naira in the coming days will depend largely on external reserves performance, crude oil earnings, foreign portfolio inflows, and the Central Bank’s continued management of dollar liquidity.

The naira had recorded modest gains in recent trading sessions, supported by improved sentiment in the foreign exchange market and tighter regulatory oversight aimed at curbing speculative pressure on the local currency.

Data from the Nigerian Foreign Exchange Market (NFEM) showed the official exchange rate hovering around ₦1,361/$, with intraday fluctuations between approximately ₦1,355 and ₦1,366 to the dollar.

The movement reflects continued efforts by monetary authorities to stabilise the foreign exchange market amid persistent demand for foreign currency by importers, manufacturers and other end users.

At the parallel market, commonly referred to as the black market, the dollar exchanged at about ₦1,395/$, indicating a premium above the official market rate.

Recent trading sessions have shown marginal appreciation of the naira at the official window, supported by improved market turnover and sustained interventions aimed at boosting liquidity in the forex market. Earlier data from the Central Bank of Nigeria indicated that the naira had traded around ₦1,362/$ in previous sessions.

Analysts say the narrowing gap between the official and parallel market rates could help improve investor confidence and reduce speculative pressure on the local currency if sustained over time.

The Central Bank of Nigeria maintains that the NFEM rate remains the country’s official benchmark exchange rate, derived from volume-weighted market transactions.

Data from the Central Bank of Nigeria’s exchange rate portal showed that the official NFEM rate hovered around ₦1,374 per dollar, with trading bands ranging between approximately ₦1,362 and ₦1,378.

In the parallel market, also known as the black market, Bureau De Change operators in Lagos and Abuja quoted the dollar at about ₦1,385 for buying and around ₦1,400 for selling, depending on transaction volume and location.

Reports indicated that the gap between the official and parallel market rates remained moderate as the Central Bank of Nigeria continued efforts to improve dollar liquidity in the formal forex window.

Currency traders noted that market sentiment has remained cautious amid ongoing demand pressure for foreign exchange by importers, travelers, and businesses seeking dollar supplies outside the banking system.

Analysts also said the direction of the naira this week could be influenced by crude oil price movements, foreign reserve levels, and monetary policy measures aimed at stabilising the foreign exchange market.