- Official Dollar to Naira Rates Today – June 2 2025.
- Official CBN rate holds at ₦1,586.15 per Dollar, showing sustained gap.
- Forex disparity persists as demand pushes parallel rates higher.
As of June 2, 2025, the Nigerian Naira experienced slight fluctuations against major currencies in both the official and parallel markets. The Central Bank of Nigeria (CBN) reported the following official exchange rates:
| Currency | CBN Official Rate (₦) |
|---|---|
| USD | 1,586.15 |
| EUR | 1,797.11 |
| GBP | 2,136.39 |
In the parallel market, commonly referred to as the black market, exchange rates were slightly higher:
| Currency | Buying Rate (₦) | Selling Rate (₦) |
|---|---|---|
| USD | 1,610 | 1,615 |
| EUR | 1,800 | 1,805 |
| GBP | 2,160 | 2,165 |
These rates indicate a marginal depreciation of the Naira in the parallel market compared to the official rates. The slight differences between the buying and selling rates reflect the market dynamics and demand for foreign currencies.
It’s important to note that the Central Bank of Nigeria does not recognize the parallel market and advises individuals to conduct foreign exchange transactions through official channels. The CBN continues to implement policies aimed at stabilizing the Naira and closing the gap between the official and parallel market rates.
For individuals and businesses engaged in foreign transactions, staying informed about the current exchange rates is crucial for financial planning and budgeting. Monitoring both official and parallel market rates provides a comprehensive view of the currency landscape in Nigeria.
Note: Exchange rates are subject to change and may vary based on market conditions.
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