Currency News Today — The Nigerian Naira remained relatively stable against major foreign currencies on Wednesday, June 3, 2026, as traders monitored foreign exchange inflows and demand pressures across official and parallel markets.
At the official Nigerian Foreign Exchange Market (NFEM), the Naira traded around ₦1,373 to the US Dollar. Meanwhile, black market rates remained slightly higher, reflecting continued demand for foreign currencies outside the official market. 0
Currency News Today June 3 2026: Official Exchange Rates (Approximate)
| Currency | Code | Rate (₦) |
|---|---|---|
| US Dollar | USD | 1,373.25 |
| British Pound | GBP | 1,839.61 |
| Euro | EUR | 1,594.52 |
| Canadian Dollar | CAD | 990.00 |
| Saudi Riyal | SAR | 365.00 |
| Chinese Yuan | CNY | 191.00 |
| Japanese Yen (100) | JPY | 950.00 |
| South African Rand | ZAR | 75.00 |
Source: CBN, NFEM market data. 1
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Black Market Exchange Rates
| Currency | Buy (₦) | Sell (₦) |
|---|---|---|
| US Dollar (USD) | 1,375 | 1,395 |
| British Pound (GBP) | 1,830 | 1,870 |
| Euro (EUR) | 1,585 | 1,630 |
| Canadian Dollar (CAD) | 996 | 1,004 |
| Saudi Riyal (SAR) | 360 | 370 |
| Chinese Yuan (CNY) | 198 | 206 |
| UAE Dirham (AED) | 375 | 385 |
Parallel market traders quoted the US Dollar between ₦1,395 and ₦1,405 on Tuesday, while the Pound traded around ₦1,870 and the Euro around ₦1,630. Exchange rates may vary slightly across cities and dealers. 2
Market Outlook
Analysts expect the Naira’s performance this week to depend on foreign exchange inflows, crude oil earnings, external reserves, and importer demand. Increased FX liquidity could help narrow the gap between official and black market rates. 3
Key Highlights
- Official USD rate remains around ₦1,373/$.
- Black market USD trades around ₦1,395–₦1,405/$.
- Pound Sterling remains above ₦1,800 in both markets.
- Euro continues to trade above ₦1,590 officially and ₦1,600 in the parallel market.
- Market participants are watching FX liquidity and oil revenue trends.
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