The Nigerian naira showed a relatively steady performance against the United States dollar on Tuesday, June 2, 2026, as trading activity played out across both the official foreign exchange window and the parallel market.
In the Nigerian Foreign Exchange Market, recent figures released by the Central Bank of Nigeria placed the official rate at about ₦1,373.25 per dollar, based on the most recent trading data available. The market has maintained a fairly stable pattern in recent sessions, supported by improved dollar inflows and ongoing measures aimed at strengthening liquidity in the system.
Trading updates from market trackers indicated that the naira moved within a narrow band of roughly ₦1,370 to ₦1,372 against the dollar during official market transactions on the same day.
In the parallel market, widely referred to as the black market, the dollar exchanged at around ₦1,395 for buying and ₦1,405 for selling in early Tuesday trading. Some operators in major commercial hubs such as Lagos quoted slightly different figures, with rates hovering around ₦1,385 depending on demand and supply conditions.
The difference between the official and unofficial market rates has remained relatively contained in recent weeks when compared to earlier volatility. Analysts suggest this reflects ongoing efforts to improve foreign exchange supply and reduce pressure on the local currency.
Market observers also note that the naira’s short term direction will likely be influenced by several key factors, including foreign inflows, import related demand, the strength of external reserves, and general investor sentiment.
For individuals and businesses accessing foreign exchange, actual rates may still vary slightly depending on transaction size, location, and the specific dealer involved in the exchange process.
