- Dollar To Naira Exchange Rate Today, June 4, 2026
- Official CBN exchange rate ranged between ₦1,359 and ₦1,365.
- Naira remained relatively stable across forex market segments.
The Dollar to Naira exchange rate remained relatively stable across the official and parallel foreign exchange markets on Thursday, June 4, 2026, as traders continued to monitor demand and supply conditions in Nigeria’s forex market.
At the black market, also known as the parallel market, the United States Dollar exchanged at an average buying rate of ₦1,376 and a selling rate of ₦1,384. Rates may vary slightly across different locations and currency dealers depending on transaction volume and market conditions.
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EKO HOT BLOG reports that data from the Nigerian Foreign Exchange Market (NFEM), which serves as the official exchange rate window, showed that the naira traded within a range of ₦1,359 and ₦1,365 against the US dollar. The Central Bank of Nigeria (CBN) continues to monitor market activities as part of efforts to maintain stability in the foreign exchange market.
| Dollar to Naira (USD/NGN) | Exchange Rate |
|---|---|
| Black Market Buying Rate | ₦1,376 |
| Black Market Selling Rate | ₦1,384 |
| CBN Highest Rate | ₦1,365 |
| CBN Lowest Rate | ₦1,359 |
The difference between the official and parallel market rates remains relatively narrow compared to previous years, reflecting ongoing reforms in Nigeria’s foreign exchange sector. Market analysts have attributed recent stability to improved forex liquidity, stronger external reserves, and increased confidence in the official market.
Experts, however, advise businesses and individuals involved in foreign exchange transactions to monitor market movements closely, as rates can change throughout the trading day due to fluctuations in demand and supply.
It is important to note that the Central Bank of Nigeria does not recognise the black market as an official foreign exchange channel and continues to encourage Nigerians to conduct forex transactions through authorised financial institutions.
