The Nigerian naira strengthened against the United States dollar at the official foreign exchange market, trading at N1,356.2704 per dollar on Monday, June 15, 2026, according to data from the Central Bank of Nigeria (CBN).
Figures published on the CBN’s official platform showed that the local currency traded at the Nigerian Foreign Exchange Market (NFEM) rate of N1,356.2704/$ and closed at N1,356.0000/$.
The latest movement represents an improvement from the N1,363.8250/$ recorded at the NFEM on June 11, 2026, indicating an appreciation of about N7.55 against the dollar.
The naira’s recent performance reflects improved conditions in the official foreign exchange market as authorities continue efforts to stabilise currency trading and improve liquidity.
At the parallel market, the naira also recorded gains against the dollar. The buying rate improved by about N4, while the selling rate strengthened by N5 compared with the previous trading session on June 10.
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According to market data, the dollar was exchanged at around N1,393/$ for buying and N1,400/$ for selling at the parallel market on Monday.
Despite the recent improvement, the gap between official and parallel market rates remains a focus for policymakers as Nigeria continues efforts to unify foreign exchange pricing and improve transparency in the currency market.
The naira has faced significant pressure in recent years due to foreign currency shortages, increased demand for dollars, inflationary pressures and broader economic challenges.
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The Nigerian government and the CBN have introduced several reforms aimed at improving foreign exchange availability, attracting investment and strengthening confidence in the financial system.
Recent improvements in foreign currency inflows, including increased investment activity, export earnings and reforms in the FX market, have supported efforts to stabilise the currency.
Analysts say sustaining the naira’s recovery will depend on continued improvements in foreign exchange liquidity, stronger economic growth and increased confidence among businesses and investors.
The exchange rate remains a key indicator for Nigeria’s economy, influencing inflation, import costs and business planning across sectors.
The latest appreciation provides some relief for importers and consumers, although market participants continue to monitor developments closely amid ongoing economic reforms and global financial pressures.
