The Nigerian naira recorded another day of relative stability against the United States dollar on Thursday, June 4, 2026, trading at about ₦1,373.25/$ in the official foreign exchange market, while black market rates hovered between ₦1,385 and ₦1,405 per dollar.
The latest market movements showed only a modest difference between rates in the official and parallel segments, highlighting a period of reduced volatility in the foreign exchange market.
Naira Maintains Position at Official Window
Figures from the Nigerian Foreign Exchange Market (NFEM) indicated that the local currency continued to trade within a narrow band, reflecting steady market conditions.
Trading activity at the official window saw the exchange rate fluctuate slightly between ₦1,372 and ₦1,375 to the dollar before settling around ₦1,373.25.
The development suggests that recent efforts to improve market efficiency and foreign exchange supply are helping to keep the currency relatively stable.
Parallel Market Shows Limited Movement
Across the parallel market, exchange rates remained close to official levels compared with the wider disparities witnessed in the past.
Checks among currency dealers showed the dollar being bought at rates ranging from ₦1,375 to ₦1,395, while selling prices were generally quoted between ₦1,385 and ₦1,405.
Rates varied depending on location, transaction volume and individual dealer pricing.
What Is Supporting the Naira?
Market observers linked the naira’s recent performance to measures introduced to improve transparency in foreign exchange transactions and strengthen liquidity within the market.
The reduced gap between official and unofficial rates has also been viewed as a sign of improving confidence among market participants.
Despite the relative calm, analysts noted that demand from businesses, importers and other forex users continues to influence daily exchange rate movements.
For now, the naira remains largely stable, with both official and parallel market rates showing only limited fluctuations as trading continues into June.
