The naira remained resilient in June, appreciating slightly against the dollar despite tighter domestic liquidity conditions, as stronger foreign exchange market activity and sustained interventions by the Central Bank of Nigeria (CBN) helped support the local currency, according to the Financial Markets Dealers Association (FMDA).
Data published by the CBN showed that the naira, which weakened to the lowest of N1,383.63 per dollar on June 29, 2026, has rebounded to N1,370.15/$1, marking a 0.98 percent or N13.48 gain at the NFEM.
On a daily basis the local currency appreciated by N2.26 as the dollar was quoted at N1,370.15 on Thursday from N1,372.41 quoted on Wednesday.
The FMDA’s June monthly report showed that the naira appreciated by 0.22 percent in the Nigerian Foreign Exchange Market (NFEM) during the month under review, even as the CBN intensified liquidity sterilisation operations and financial markets experienced increased demand for foreign exchange toward the end of June.
Read also: Naira cools further despite higher FX interbank liquidity, rising reserves
