June 11, (THEWILL) — The Nigerian naira traded with relative stability against the United States dollar on Thursday, June 11, 2026, across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, as improved liquidity conditions continued to support confidence in the foreign exchange market.
Data from the Central Bank of Nigeria’s exchange rate portal showed that the official NFEM rate remained around the ₦1,360 per dollar mark in recent trading sessions, with the exchange rate fluctuating within a narrow band as market participants adjusted to prevailing supply and demand dynamics.
The NFEM, which serves as Nigeria’s official benchmark exchange rate window, derives its rates from volume-weighted transactions conducted in the foreign exchange market.
Recent market data indicated that the naira has largely traded within the ₦1,350–₦1,370 range against the dollar, reflecting a period of relative calm in the currency market.
Market analysts attributed the naira’s resilience to improved liquidity in the official market and ongoing efforts by monetary authorities to sustain stability in the foreign exchange sector.
They noted that increased dollar availability through official channels has helped moderate exchange rate pressures and reduce speculative activities.
In the parallel market, popularly known as the ,black market, currency traders quoted the dollar at between ₦1,395 and ₦1,405 per dollar, depending on transaction volume, location and prevailing market conditions.
Buying rates were reported at approximately ₦1,385 per dollar.
As of June 11, 2026, the prevailing exchange rates stood at approximately ₦1,360–₦1,366 per dollar in the official NFEM window, while the parallel market recorded buying rates of about ₦1,385 per dollar and selling rates ranging between ₦1,395 and ₦1,405 per dollar.
According to market observers, sustained liquidity in the official window and improved confidence among investors and businesses have helped reduce volatility in recent months, contributing to a more predictable exchange rate environment.
Despite the improved stability, foreign exchange dealers said demand for dollars remains strong among importers, travellers, students paying overseas tuition fees and businesses making offshore payments.
They noted that this demand continues to drive activity in the parallel market even as access to foreign exchange through official channels improves.
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