June 8, 2026
The Nigerian naira maintained relative stability against the United States dollar across the official and parallel foreign exchange markets as traders monitored supply and demand conditions in the country’s forex market.
Data from the Nigerian Foreign Exchange Market (NFEM) showed that the naira was trading around ₦1,357.26 per dollar at the official market, reflecting the rate recorded at the close of recent trading sessions. Market data indicated that the currency had appreciated slightly from previous levels above ₦1,360/$ in early June.
At the parallel market, also known as the black market, the dollar was bought at approximately ₦1,388 and sold at ₦1,398 on Monday, June 8, according to rates compiled from Bureau De Change operators and market trackers.
The gap between the official and parallel market rates remained relatively narrow compared to wider spreads recorded in previous years, highlighting continued efforts to improve liquidity and price discovery in the foreign exchange market.
