(Dollar to Naira. Photo Credit; Nairacompare)
The Nigerian naira maintained a relatively stable position against the US dollar on Thursday, June 11, 2026, across both the official and parallel markets, as traders kept a close eye on liquidity levels and forex demand.
Figures from the Central Bank of Nigeria’s exchange rate portal showed the official NFEM rate hovering around ₦1,360 per dollar in recent sessions, moving within a tight range as market players responded to prevailing supply and demand conditions.
The NFEM rate serves as the country’s official benchmark, derived from volume-weighted transactions in the forex market.
Analysts attributed the naira’s steady performance to improved liquidity in the official market and ongoing efforts by monetary authorities to maintain forex stability.
Recent data showed the currency trading largely between ₦1,350 and ₦1,370 to the dollar in the official window.
In the parallel market, street traders were quoting the dollar at between ₦1,395 and ₦1,405, varying by location, transaction size and market conditions, while buying rates were reported at around ₦1,385 per dollar.
The spread between official and parallel market rates has narrowed significantly compared to previous years, pointing to greater convergence across Nigeria’s forex market.
Analysts noted that steady liquidity in the official window and improved market confidence have helped curb volatility in recent months.
Currency dealers, however, noted that sustained demand from importers, travellers and businesses making offshore payments continues to drive activity in the parallel market, even as access to dollars through official channels improves.
As of June 11, 2026, the prevailing rates were as follows:
- Official NFEM rate: approximately ₦1,360–₦1,366 per dollar
- Parallel market buying rate: around ₦1,385 per dollar
- Parallel market selling rate: between ₦1,395 and ₦1,405 per dollar
Rates may differ across banks, Bureau De Change operators and regions, depending on transaction size and market conditions.
