- Dollar to Naira Exchange Rates – 1st June 2025.
- Official CBN rates show dollar at ₦1,586.15, pound at ₦2,138.
- Forex gap remains as demand drives parallel market prices higher.
As of 1st June 2025, the exchange rates for major currencies in Nigeria are as follows:
| Currency | Official CBN Rate (₦) | Parallel Market Rate (₦) |
|---|---|---|
| USD | 1,586.15 | 1,610 – 1,630 |
| GBP | 2,138.00 | 2,150 – 2,180 |
| EUR | 1,796.55 | 1,800 – 1,820 |
Note: The official rates are sourced from the Central Bank of Nigeria (CBN), while the parallel market rates are based on information from Bureau De Change (BDC) operators.
Market Overview:
The Naira continues to face pressure in the foreign exchange market. The disparity between the official and parallel market rates underscores ongoing challenges in Nigeria’s forex landscape. The CBN maintains its stance on the official rates, while the parallel market reflects higher demand for foreign currencies.
The current exchange rates have significant implications for importers, exporters, and consumers.
The higher rates in the parallel market can lead to increased costs for imported goods, affecting inflation and the overall economy. Stakeholders are advised to monitor these rates closely and consult financial experts for guidance.
Disclaimer: Exchange rates are subject to change and may vary across different platforms and locations.
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