The Nigerian naira traded within a relatively stable range against the United States dollar on Tuesday, June 2, 2026, across both the official and parallel foreign exchange markets, as market participants continued to monitor liquidity levels and demand pressures.
According to data from the Central Bank of Nigeria (CBN), the naira exchanged at approximately ₦1,373.25 per dollar at the Nigerian Foreign Exchange Market (NFEM), based on the latest available trading figures.
The official market has maintained relative stability in recent trading sessions, supported by sustained foreign exchange inflows and policy measures aimed at improving market liquidity and boosting investor confidence.
Market data indicated that the naira traded within the ₦1,370 to ₦1,372 range against the dollar in official transactions on June 2, reflecting a steady performance despite ongoing economic challenges.
In the parallel market, commonly known as the black market, the US dollar was quoted at around ₦1,395 for buying and ₦1,405 for selling on Tuesday morning. Some traders in major commercial hubs, including Lagos, also reported exchange rates of approximately ₦1,385 per dollar in informal transactions.
The difference between the official and parallel market exchange rates remained relatively narrow compared to previous months, a development analysts attribute to improved foreign exchange supply and ongoing reforms designed to enhance transparency in the forex market.
Financial experts noted that the naira's performance in the coming days will likely be influenced by several factors, including foreign exchange inflows, import demand, external reserve levels, monetary policy decisions, and broader market sentiment.
At the official market, one US dollar traded at approximately ₦1,373.25, while rates in the parallel market ranged between ₦1,395 and ₦1,405, depending on location and transaction volume.
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