‎Naira Holds Firm Against Dollar in Black Market Amid Forex Volatility

‎The naira held steady against the US dollar at the parallel market on Wednesday, June 11, underscoring continued volatility in Nigeria’s foreign exchange landscape.

Currency traders in Abuja told Economic Confidential that the naira exchanged at ₦1,605/$1 for buying and ₦1,615/$1 for selling— slight change from Tuesday’s closing rates.

‎Similarly, at the official exchange window, the local currency recorded a modest appreciation, closing at ₦1,566/$1 on Wednesday compared to ₦1,583/$1 the last Wednesday, according to historical trading data.

‎The persistent disparity between official and parallel market rates continues to reflect underlying pressures in Nigeria’s forex market, driven by dollar scarcity and speculative trading.