Naira Holds Steady at ₦1,369/$1 Officially as Parallel Market Gap Narrows to Under ₦40

As of Wednesday, June 23, 2026, Nigeria's official naira-dollar rate is ₦1,369/$1 per NFEM data, with the parallel market at ₦1,400-1,408/$1 - keeping the official-parallel gap under ₦40, the narrowest in years per market trackers. Analysts interpret this narrowing spread as evidence of market confidence in the Central Bank of Nigeria's ongoing foreign exchange reforms, though parallel market premiums persist due to residual dollar scarcity.

For perspective: $100 exchanges for approximately ₦136,900 at the official rate versus ₦140,000-140,800 in the parallel market. The CBN notes the naira has remained broadly stable despite fluctuations in global currency markets and domestic forex demand.

Given that forex access impacts everything from import costs to school fees abroad and family remittances, how does this narrowing rate gap influence your foreign exchange planning - are you leaning toward official channels now, or does the parallel market still offer better value for your needs?

SOURCE: https://www.channelstv.com/2026/06/24/naira-to-dollar-exchange-rate-today-june-24-2026/