The Nigerian naira traded at ₦1,373.25 per dollar in the official market on Tuesday, June 2, 2026, while the currency exchanged between ₦1,395 and ₦1,405 per dollar in the parallel market, reflecting a relatively stable performance across the foreign exchange market.
Data released by the Central Bank of Nigeria (CBN) showed that the latest official Nigerian Foreign Exchange Market (NFEM) rate stood at ₦1,373.25 to the United States dollar.
The local currency has maintained a steady position in recent trading sessions, supported by improved foreign exchange inflows and policy measures aimed at boosting liquidity in the market.
Market trackers also reported that the naira traded within the ₦1,370 to ₦1,372 range in official transactions on June 2, indicating limited fluctuations during the trading period.
In the parallel market, popularly known as the black market, the dollar was bought at about ₦1,395 and sold at approximately ₦1,405 on Tuesday morning.
Some currency dealers in major commercial centres, including Lagos, quoted the dollar at around ₦1,385, highlighting slight variations in rates across different locations.
The difference between official and parallel market rates remained relatively narrow compared with wider gaps recorded in previous months, a development analysts attribute to ongoing efforts to improve forex availability and transparency.
Experts say the naira’s performance in the coming days will largely depend on the level of foreign exchange inflows, import demand, external reserves and overall market sentiment.
For businesses and individuals seeking foreign exchange, exchange rates may vary slightly depending on transaction size, location and dealer margins.