Naira to Dollar exchange rate today, Monday, June 29, 2026

The Nigerian naira closed at ₦1,379.22 against the United States (US) dollar at the Nigerian Foreign Exchange Market (NFEM) on Monday, June 29, 2026, according to the latest market figures.

Based on the official exchange rate, $100 was valued at about ₦137,922, while $1,000 exchanged for approximately ₦1.379 million.

Parallel market records slight premium

In the parallel market, also known as the black market, the dollar was bought at around ₦1,390 and sold between ₦1,400 and ₦1,405, depending on the location and size of the transaction.

At the average selling price of ₦1,400 per dollar, $100 exchanged for about ₦140,000, while $1,000 was worth roughly ₦1.4 million.

The difference between the official and parallel market rates stood at around ₦21 per dollar, suggesting that the gap between both markets remains relatively narrow.

Forex stability continues

Analysts say the modest spread reflects the naira’s recent stability, supported by improved foreign exchange liquidity and ongoing policy measures designed to strengthen the local currency.

The NFEM rate, which serves as Nigeria’s benchmark exchange rate, is calculated by the Central Bank of Nigeria using a volume-weighted average of transactions completed in the official foreign exchange market.

However, exchange rates may differ slightly across commercial banks, bureaux de change and various parallel market locations due to changing demand and supply conditions.