June 1, 2026: Dollar‑to‑Naira Exchange Rate

The Nigerian naira moved within a narrow band against the U.S. dollar on June 1, 2026, as traders observed liquidity and demand in both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market.

According to data released by the Central Bank of Nigeria, the official NFEM rate closed at ₦1,373.25 per dollar on May 29, the most recent official figure available at the start of trading on June 1. During the session, the naira peaked at ₦1,375 and fell to a low of ₦1,372.

Analysts say the currency’s stability reflects stronger interbank transactions and sustained liquidity in the forex market. Recent reports indicate that higher activity in the interbank segment has helped support the naira despite ongoing demand for dollars.

In the parallel market, the dollar traded at roughly ₦1,375 for purchases and between ₦1,385 and ₦1,405 for sales on June 1, with variations depending on location and dealer quotes.

Currency‑tracking sites reported an average black‑market selling rate of about ₦1,385 per dollar, while the official NFEM rate stayed near ₦1,373.25, narrowing the gap between the two markets.

The naira has stayed relatively steady in recent weeks as the Central Bank of Nigeria pursues market reforms and liquidity‑management measures aimed at enhancing transparency and reducing volatility.

Rates may differ across banks, bureaux de change, fintech platforms and parallel‑market dealers, depending on transaction size, location and prevailing market conditions.

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