Naira steadies at ₦1,363.83/$ as CBN reforms boost official forex stability

The naira closed around ₦1,363.83 per dollar at the official Nigerian Foreign Exchange Market (NFEM) window at the start of the new trading week, according to Central Bank of Nigeria data. The official market has traded within the ₦1,360 range in recent days, showing signs of stability supported by ongoing reforms and improved foreign exchange supply. Parallel market rates hovered between ₦1,400 and ₦1,405 per dollar, maintaining a premium over the official rate. At the prevailing rate, $100 exchanges for approximately ₦136,383 at the NFEM window.

This stability matters because it affects import costs, inflation, and the purchasing power of Nigerians who need foreign currency for travel, school fees, or business. A steadier official rate can reduce uncertainty for importers and exporters, while the persistent parallel market premium indicates ongoing demand pressures. The CBN notes the NFEM rate is a volume-weighted average serving as the country’s official exchange rate benchmark.

Individuals and businesses should monitor the official rate for budgeting foreign transactions, consider timing purchases when the naira is stronger, and be aware of the parallel market premium when sourcing dollars outside official channels. With reforms improving transparency, the naira’s stability may continue, but external factors like oil prices and capital flows remain influential.

SOURCE: https://www.channelstv.com/2026/06/15/naira-to-dollar-exchange-rate-today-june-15-2026/