- Dollar to Naira Exchange Rate Today – June 11, 2025
- Dollar to Naira: Parallel Market Sells at ₦1,587 Amid Forex Fluctuations
- CBN Warns Against Black Market as Dollar Trades ₦1,580/₦1,587
The black market (parallel market) exchange rate for the US dollar to the Nigerian naira stands at ₦1,580 (buy rate) and ₦1,587 (sell rate) today in Lagos, according to Bureau de Change operators. This rate, commonly called the “Aboki FX rate,” remains higher than the official Central Bank of Nigeria (CBN) rate.
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EKO HOT BLOG reports that the CBN’s official exchange rate today ranges between ₦1,532 (lowest) and ₦1,557 (highest), maintaining a significant gap with the parallel market. The CBN continues to discourage forex transactions outside official banking channels, warning against the risks of the black market.
Forex demand pressures and limited dollar supply keep the naira weak in unofficial markets. Businesses and individuals sourcing dollars for travel, trade, or education still rely on the parallel market due to liquidity challenges in official windows.
Experts advise caution when using black market rates, as prices fluctuate frequently. The CBN urges Nigerians to use authorized banks and licensed forex dealers for transactions.
