The Nigerian naira traded at ₦1,373.25 to the United States dollar in the official foreign exchange market on Tuesday, June 2, 2026, reflecting a relatively stable performance amid sustained market confidence.
Data released by the Central Bank of Nigeria showed that the latest Nigerian Foreign Exchange Market rate remained within a narrow band, with official transactions ranging between ₦1,370 and ₦1,372 during the trading session.
In the parallel market, the dollar exchanged between ₦1,395 and ₦1,405, with dealers buying at about ₦1,395 and selling near ₦1,405, indicating limited volatility.
Currency traders in major commercial centres, including Lagos, also quoted the dollar at around ₦1,385, reflecting slight regional variations.
Analysts attribute the reduced gap between official and black market rates to improved foreign exchange inflows and policy measures aimed at boosting liquidity and transparency.
Experts note that the naira’s short-term outlook will depend on forex supply levels, import demand, external reserves and prevailing market sentiment.