The Nigerian naira traded at relatively stable levels against the United States dollar on Monday, June 22, 2026, as the official and parallel foreign exchange markets continued to maintain a narrow spread.

Data from the Nigerian Foreign Exchange Market (NFEM) showed that the official exchange rate stood at approximately ₦1,363.41 per US dollar as of Monday's trading session. The rate reflects the volume-weighted average exchange rate used by the Central Bank of Nigeria as the country's official benchmark.

In the parallel market, also known as the black market, the dollar exchanged at between ₦1,390 and ₦1,400, depending on location, transaction size and dealer quotations across major cities including Lagos, Abuja and Port Harcourt. Currency tracking platforms indicated that the average street market selling rate remained around ₦1,400 per dollar.

At the prevailing rates, $100 would exchange for about ₦136,341 at the official NFEM rate and roughly ₦140,000 in the parallel market.

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The gap between the official and parallel market rates has narrowed significantly compared with previous years, reflecting the impact of ongoing foreign exchange reforms introduced by the Central Bank of Nigeria to improve liquidity and deepen the market. Recent policy measures, including the liberalisation of foreign exchange rules for exporters, are aimed at boosting dollar inflows and strengthening investor confidence in the naira.

Analysts say the naira's performance in the coming weeks will continue to depend on foreign exchange supply, oil export earnings, diaspora remittances and the Central Bank's monetary policies.

Exchange rates may vary slightly across banks, bureaux de change and parallel market dealers due to market conditions and transaction volumes.