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Nigerian Naira Holds Steady Against U.S. Dollar on June 29, 2026
🇳🇬 Nigeria /Economy & Trade

Nigerian Naira Holds Steady Against U.S. Dollar on June 29, 2026

From Vanguard · () English

Translated from English, summarized and contextualized by DistantNews.

At a glance

News Documents & data Context piece
  • The Nigerian naira traded at ₦1,379.22 per U.S. dollar on the official market on June 29, 2026.
  • In the parallel (black) market, the dollar sold for around ₦1,400, with a narrow spread of about ₦21 between the two rates.
  • This stability is attributed to improved foreign exchange liquidity and policy reforms by the Central Bank of Nigeria.

Nigeria's naira held steady against the U.S. dollar on Monday, June 29, 2026, trading at an official rate of ₦1,379.22 per dollar. This official rate, determined by the Central Bank of Nigeria through a volume-weighted average of market transactions, serves as the country's benchmark.

On the parallel market, often referred to as the black market, the dollar was quoted around ₦1,390 for buying and between ₦1,400 and ₦1,405 for selling. The average selling rate in this unofficial market stood at approximately ₦1,400 per dollar.

The spread between the official and parallel market rates remained tight, hovering around ₦21 per dollar. This narrow gap reflects a period of relative stability for the naira, bolstered by increased foreign exchange liquidity and recent policy adjustments implemented by the Central Bank of Nigeria aimed at strengthening the local currency.

DistantNews Editorial

Originally published by Vanguard in English. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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