On the first day of the new month, June 2026, the exchange rate Naira to the Dollar is one of relative stability at both the official window and the parallel market.
This submission flows from the data published by the apex monetary policy regulatory agency, the Central Bank of Nigeria (CBN).
The Naira traded at ₦1,373.25 to the dollar at the official window, the Nigerian Foreign Exchange Market (NFEM) on May 29, being the latest available official rate at the start of trading on June 1.
The rate was relatively stable, at a high of ₦1,375 and a low of ₦1,372 during the trading session, a stability attributed to improved interbank transactions and sustained liquidity in the foreign exchange market.
In the parallel market, commonly referred to as the black market, the dollar exchanged at about ₦1,375 for buying and between ₦1,385 and ₦1,405 for selling on June 1, depending on location and dealer quotations.
Currency tracking platforms showed the average black market selling rate hovering around ₦1,385 per dollar, while the official NFEM rate remained near ₦1,373.25, leaving a narrow gap between both market segments.
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The exchange rate Naira to the Dollar today has remained relatively stable in recent weeks, making projections by forex users reliable as against, high volatility of previous times.
This is kudos to the Central Bank of Nigeria which continues to dole out and supervise necessary market reforms and liquidity management efforts.
