The Nigerian naira maintained a relatively stable performance against the United States dollar on Friday, June 26, 2026, trading at about ₦1,374.76 per dollar in the official market, while the currency sold for around ₦1,400 per dollar in the parallel market.
Data from the Nigerian Foreign Exchange Market (NFEM) showed that the local currency has remained within the ₦1,370 range in recent trading sessions, signalling continued stability in the foreign exchange market.
Official market remains stable
At the prevailing official exchange rate, $100 was valued at approximately ₦137,476, while $1,000 exchanged for about ₦1.37 million.
Central Bank of Nigeria figures for June 25 indicated an NFEM exchange rate of ₦1,380.1079 per dollar.
The highest rate recorded during the trading session stood at ₦1,390.50, while the lowest was ₦1,376.00, reflecting limited fluctuations in the market.
Black market trades slightly higher
In the parallel market, also known as the black market, Bureau De Change operators in Lagos quoted the dollar at around ₦1,388 for buying and ₦1,400 for selling.
At the current parallel market rate, $100 exchanged for roughly ₦140,000, while $1,000 fetched about ₦1.4 million. Dealers noted that rates may vary depending on location and transaction size.
Analysts point to key drivers
Foreign exchange analysts said the naira’s performance in the coming weeks will largely depend on factors such as dollar inflows from crude oil exports, diaspora remittances, foreign portfolio investments and interventions by the Central Bank aimed at boosting market liquidity.
They also noted that the relatively narrow gap between official and parallel market rates suggests continued convergence in Nigeria’s foreign exchange market.
Current exchange rates
Official NFEM rate: Approximately ₦1,374.76 per US dollar.
Parallel market rate: Approximately ₦1,388/$ (buy) and ₦1,400/$ (sell).
Exchange rates may differ slightly across banks, bureaux de change and parallel market operators depending on transaction volume and location.