The Nigerian naira traded relatively stable against the United States dollar on Tuesday, June 9, 2026, as foreign exchange market reforms and improved liquidity continued to support the local currency.

Data from the Nigerian Foreign Exchange Market (NFEM) indicated that the naira maintained its recent gains, with the official exchange rate hovering around ₦1,362.21 per dollar during the latest trading session.

Market data showed that the official closing rate settled at approximately ₦1,365 per dollar, while transactions during the trading day ranged between ₦1,360 and ₦1,366 per dollar.

The development reflects continued stability in the foreign exchange market following a period of volatility that characterized the market in previous months.

Analysts noted that improved dollar liquidity and increased foreign exchange inflows have contributed to the naira’s recent performance, helping narrow the gap between the official and parallel market rates.

In the parallel market, popularly known as the black market, the dollar exchanged at about ₦1,390 per dollar for buying and approximately ₦1,400 per dollar for selling on Tuesday.

The difference between the official market rate and the parallel market rate stood at roughly ₦38, a relatively narrow spread compared to previous periods when the gap widened significantly.

Currency traders attributed the stability to moderate demand from importers, manufacturers, business owners, and other end users, as well as sustained efforts by monetary authorities to improve transparency and liquidity within the foreign exchange market.

Financial experts say the convergence between official and unofficial exchange rates remains a positive signal for investors and businesses, as it reduces arbitrage opportunities and enhances confidence in the country’s foreign exchange framework.

Recent market trends indicate that the naira recorded a series of gains in the first week of June before entering a period of relative stability.

Dollar to Naira Exchange Rate Today (June 9, 2026)

• Official NFEM Rate: ₦1,362.21/$
• Official Market Closing Rate: ₦1,365/$
• Parallel Market Buying Rate: ₦1,390/$
• Parallel Market Selling Rate: ₦1,400/$

However, exchange rates may vary slightly across commercial banks, bureaux de change operators, and different regions of the country depending on demand, transaction volume, and market conditions.

Market observers will continue to monitor developments in Nigeria’s foreign exchange market, particularly the impact of Central Bank policies, external reserves, and foreign investment inflows on the value of the naira in the coming weeks.

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