Dollar Vs Naira: Today’s Exchange Rate Every Nigerian Should Know

The Nigerian naira maintained a relatively stable position against the United States dollar in the parallel foreign exchange market on Wednesday, June 3, 2026, amid ongoing fluctuations in the country’s forex landscape.

Market checks revealed that the dollar exchanged at an average selling rate of ₦1,390 and a buying rate of ₦1,381 at the Lagos parallel market, commonly referred to as the black market. Currency traders and Bureau De Change operators indicated that rates continued to vary across locations depending on demand and supply dynamics.

Meanwhile, figures from the official foreign exchange window showed that the dollar traded within a range of ₦1,350 to ₦1,370, highlighting the gap between the official market and the parallel market rates.

Financial analysts continue to advise individuals and businesses seeking foreign exchange transactions to utilize approved financial institutions and official channels. The Central Bank of Nigeria (CBN) has consistently maintained that it does not recognize the parallel market and has encouraged forex users to conduct transactions through licensed banks and other authorized dealers.

Stakeholders also noted that exchange rates in both official and unofficial markets remain subject to daily fluctuations, meaning actual buying and selling prices may differ from prevailing market quotations depending on location, transaction volume, and market conditions.