The naira recorded a marginal appreciation against the United States dollar at the official foreign exchange market on Friday, June 26, 2026, as the local currency gained slightly at the Nigerian Autonomous Foreign Exchange Market (NAFEX). Exchange rate data showed that the naira traded at N1,380.93/$1 at the selling rate, representing a 0.03% gain compared with the previous session's rate of N1,381.43/$1. This slight improvement means the naira gained 50 kobo against the dollar during the trading session.
Naira Weakens Against Pound Sterling and Euro
The Nigerian currency weakened against other major international currencies, including the pound sterling and euro, in the official market. The naira depreciated against the British pound as the exchange rate rose to N1,824.90/£1 on Friday from N1,824.24/£1 recorded on Thursday, reflecting a loss of 66 kobo. Against the euro, the naira also declined, trading at N1,577.58/€1 compared with the previous day's rate of N1,577.01/€1, representing a depreciation of 57 kobo.
Exchange Rates Against Other Major Currencies
According to the latest exchange rate data, the naira closed at N1,380.93 per dollar, N1,824.90 per pound sterling and N1,577.58 per euro at the selling rate. Other major currencies recorded the following exchange rates: CFA: N2.39, Chinese yuan/renminbi: N203.13, Danish krone: N211.03, Japanese yen: N8.54, Saudi riyal: N367.72, South African rand: N83.89, Special Drawing Rights (SDR): N1,896.55, Swiss franc: N1,710.13, West African Unit of Account (WAUA): N1,867.05, and UAE dirham: N376.00.
Market Turnover and GTBank Window
Data shows market FX turnover at the NAFEM window rose by 56% to $195.371 million, while the naira remained unchanged at the black market. At the GTBank foreign exchange window, the naira recorded a decline against the dollar, exchanging at N1,383/$1 on Friday compared with N1,380/$1 in the previous session.
Black Market Rates Remain Stable
In the parallel market, also known as the black market, the exchange rate remained unchanged, with traders selling the dollar at N1,402/$1. A BDC trader, Abdullahi, confirmed the latest exchange rate to Legit.ng: 'The US dollar was exchanged at N1,402/$1 on the selling side, while the buying rate stood at N1,392/$1.' The pound sterling traded at N1,865/£1 for sellers and N1,845/£1 for buyers, while the euro was exchanged at N1,587/€1 on the selling side and N1,567/€1 on the buying side.
Customs Exchange Rate Adjustment
Legit.ng earlier reported that the Central Bank of Nigeria (CBN) had adjusted the Customs exchange rate used for clearing goods at the nation's ports and airports. The updated figures show a marginal increase compared with the previous rate, reflecting recent movements in the official foreign exchange market and the naira's performance.
