- Dollar to Naira Exchange Rate Today – June 4, 2025.
- Official CBN rate remains steady at ₦1,579 per dollar exchange.
- Pound and Euro rates also rise in parallel market trading.
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EKO HOT BLOG reports that as of Wednesday, June 4, 2025, the Nigerian Naira continues to face depreciation pressures against major foreign currencies in both the official and parallel (black) markets.
This trend reflects ongoing economic challenges, including inflation and foreign exchange scarcity.
🇳🇬 Exchange Rates as of June 4, 2025
| Currency | Market Type | Buying Rate (₦) | Selling Rate (₦) |
|---|---|---|---|
| USD | Black Market | 1,610 | 1,615 |
| USD | CBN Official | 1,583 | 1,588 |
| GBP | Black Market | 2,030 | 2,050 |
| EUR | Black Market | 1,730 | 1,750 |
Note: The above rates are indicative and may vary across different locations and dealers.
Market Insights
-
USD/NGN: The Naira’s exchange rate against the US Dollar remains under pressure, with the black market rate hovering around ₦1,615 per dollar.
-
GBP/NGN & EUR/NGN: The Naira is trading at approximately ₦2,050 per British Pound and ₦1,750 per Euro in the black market, reflecting a slight depreciation from previous rates.
-
CBN Official Rate: The Central Bank of Nigeria (CBN) maintains the official exchange rate at ₦1,583/₦1,588 for buying and selling respectively.
Important Notice
The Central Bank of Nigeria does not recognize the parallel market and advises individuals to conduct foreign exchange transactions through official banking channels. Engaging in black market transactions carries risks, including potential legal implications and unfavorable rates.
The persistent disparity between the official and black market exchange rates underscores the need for comprehensive economic reforms and effective foreign exchange policies. Individuals and businesses are encouraged to stay informed and exercise caution in their foreign exchange dealings.
