The Nigerian naira is showing signs of stability in the foreign exchange market as of June 5, 2026. Trading remains consistent across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, supported by recent liquidity improvements and Central Bank of Nigeria (CBN) interventions.

Current Exchange Rate Summary

Market Observations

• Official Market: The NFEM rate has remained steady, fluctuating narrowly within the ₦1,359–₦1,365 band throughout the week. This performance reflects increased transparency and better-managed foreign exchange supply.

  

• Parallel Market: While slightly higher than the official rate, the spread between the two markets remains relatively tight compared to the volatility experienced in previous months. Buying rates in the parallel market are generally cited between ₦1,380 and ₦1,395, with selling rates reaching up to ₦1,405.

• Influencing Factors: Market participants and analysts are currently focused on three primary drivers that will dictate the currency’s performance in the coming weeks:

  

  • Foreign Portfolio Inflows: Continued investor confidence and capital inflows remain critical for market depth.

  • Crude Oil Earnings: As a primary source of FX revenue, global oil prices and production levels directly impact supply.

  • CBN Monetary Policy: Apex bank interventions and interest rate adjustments continue to play a central role in managing liquidity and curbing speculative demand.