Black Market Dollar To Naira Exchange Rate Today, June 16, 2026
The Nigerian naira traded relatively stable against the United States dollar on Tuesday, June 16, 2026, at both the official Nigerian Foreign Exchange Market (NFEM) window and the parallel market.
Latest data from the Central Bank of Nigeria (CBN) exchange rate portal showed that the naira closed at approximately ₦1,363.83 per dollar at the official NFEM window, maintaining the trend seen in recent trading sessions. The official market has continued to trade within the ₦1,360 range amid sustained foreign exchange reforms and improved dollar liquidity.
At the parallel market, also known as the black market, the dollar exchanged at around ₦1,390 for buying and ₦1,400 for selling on Tuesday, according to multiple market trackers. This places the premium between the official and parallel market rates at roughly ₦36 per dollar.
Currency dealers said demand for the greenback remained steady across major commercial centres, while supply conditions continued to influence pricing in the informal market. Market observers noted that the gap between the official and parallel market rates has narrowed significantly compared to previous years, reflecting ongoing efforts to improve transparency and liquidity in the foreign exchange market.
The exchange rate remains a key indicator for businesses, importers, manufacturers and individuals involved in international transactions, as fluctuations in the value of the naira directly affect the cost of goods and services.
As of Tuesday, June 16, 2026:
• Official NFEM rate: ₦1,363.83/$1
• Parallel market buying rate: ₦1,390/$1
• Parallel market selling rate: ₦1,400/$1
Analysts expect the naira to continue responding to foreign exchange inflows, monetary policy measures and market demand dynamics in the coming days.
Hafsoh Isiaq is a graduate of Linguistics. An avid writer committed to creative, high-quality research and news reportage. She has considerable experience in writing and reporting across a variety of platforms including print and online.
