The Nigerian naira recorded a marginal decline against the US dollar at the official foreign exchange window on Tuesday, June 23, 2026, closing at N1,370.64 per dollar.
According to data from the Central Bank of Nigeria (CBN), the local currency lost N1.53 (0.11%) from the previous session’s rate of N1,369.11. This modest depreciation occurred despite a strong surge in interbank trading activity.
Parallel Market and Other Currencies
In the black market, the dollar was quoted at N1,395, while GTBank’s forex desk maintained its rate at N1,380. Bureau de Change operators quoted the dollar buying rate at N1,385 and selling rate at N1,395.
The naira, however, posted gains against other major currencies at the official market. It appreciated against the British Pound to N1,810.75 from N1,815.44, and strengthened by N5.37 against the Euro to close at N1,561.02.
Improved Trading Activity
Interbank foreign exchange turnover increased significantly by 92% to $125.314 million across 106 transactions, compared to $65.206 million in the previous session. This reflects heightened market participation despite the slight weakening of the naira.
Nigeria’s external reserves also continued their upward trend, rising from $51.060 billion to $51.142 billion.
Other official exchange rates published by the CBN included: CFA at N2.39, Chinese Yuan at N201.94, Danish Krona at N208.80, Japanese Yen at N8.48, Iranian Rial at N365.08, South African Rand at N82.99, and Swiss Franc at N1,693.40.
The latest movement suggests the naira remains relatively stable within a tight range, supported by steady reserve accretion and sustained CBN interventions in the foreign exchange market. Market watchers will be monitoring whether this minor dip signals the beginning of renewed pressure or remains a temporary fluctuation.
