Naira has maintained relative stability against the United States dollar on Thursday, June 4, 2026, as exchange rates in both the official and parallel markets showed only minor fluctuations.
Key Highlights:
Data from the Nigerian Foreign Exchange Market (NFEM) indicated that the naira traded around ₦1,373.25 per dollar at the official window, continuing a trend of reduced volatility in recent weeks.
During the day’s trading, the local currency moved within a narrow range of approximately ₦1,372 to ₦1,375 per dollar before settling at about ₦1,373.25/$, reflecting steady market conditions.
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The development comes amid ongoing efforts by monetary authorities to improve liquidity, enhance transparency in foreign exchange transactions, and strengthen confidence in the market.
In the parallel market, commonly referred to as the black market, exchange rates remained relatively close to official figures. Currency dealers quoted buying rates between ₦1,375 and ₦1,395 per dollar, while selling rates ranged from ₦1,385 to ₦1,405 per dollar, depending on location and transaction volume.
Market analysts noted that the narrowing gap between official and unofficial exchange rates suggests improved confidence among investors and market participants. However, they cautioned that demand from importers, businesses, and other foreign exchange users continues to exert pressure on the market.
Despite these challenges, the naira’s performance in recent days has been viewed as a sign of greater stability compared to previous periods marked by sharp fluctuations between official and parallel market rates.
Observers say the currency’s outlook in the coming weeks will depend largely on foreign exchange supply levels, market liquidity, and broader economic conditions.
For now, both the official and parallel markets continue to reflect a relatively stable exchange rate environment as trading progresses through June.
