The Nigerian naira recorded a relatively stable performance against the United States dollar on Tuesday, June 2, 2026, trading within a narrow range across both the official and parallel foreign exchange markets as liquidity conditions and demand pressures remained in focus.
According to data from the Central Bank of Nigeria, the naira closed at ₦1,373.25 per dollar in the Nigerian Foreign Exchange Market (NFEM), reflecting sustained stability in official trading sessions.
Market data also showed that the currency traded within the ₦1,370 to ₦1,372 range during intraday transactions, supported by continued forex inflows and policy measures aimed at improving market liquidity.
In the parallel market, commonly referred to as the black market, the dollar exchanged at about ₦1,395 for buying and ₦1,405 for selling, maintaining a premium over the official rate. Some informal market operators also quoted rates around ₦1,385 in select commercial centres, including Lagos.
The gap between the official and parallel market rates remained relatively narrow compared to previous months, indicating gradual convergence driven by improved supply conditions.
Analysts say the naira’s near-term performance will depend on sustained foreign exchange inflows, import demand pressures, external reserves, and overall investor sentiment in the market.