Dollar to Naira Exchange Rate – Monday, June 23, 2025

Last updated: Jun 23, 2025. 3:30 am

By Praise Ben

3 Min Read

Naira To Dollar Exchange Rate For Today - July 12, 2025

Dollar to Naira Exchange Rate – Monday, June 23, 2025.
Official rate holds steady between ₦1,545 and ₦1,560 across banks.
Wide rate gap highlights forex scarcity and inflationary pressure in Nigeria.

Nigeria’s foreign exchange landscape remains marked by a significant gap today, with the Naira trading notably differently in official and parallel markets.

Contents

Exchange Rate Snapshot Market Analysis Why the Gap Matters Recommendations FURTHER READING

Exchange Rate Snapshot

Market	Buying Rate (₦)	Selling Rate (₦)
Black Market	1,610	1,615
CBN Official (NFEM)	~1,545–1,560	~1,545–1,560

EDITOR’S PICKS

EKO HOT BLOG reports that Black market figures are sourced from Bureau De Change operators in Lagos, aligning with June 22 valuations

Market Analysis

Black Market: The Naira is trading at ₦1,610 for buying and ₦1,615 for selling. This rate aligns with last weekend’s figures and indicates persistent demand in unofficial forex channels
CBN Official (NFEM): The official rates remain stable around ₦1,545–₦1,560, according to the Central Bank’s daily data.
Rate Difference: The gap of approximately ₦55–₦70 highlights ongoing divergences between supply and demand dynamics in official versus informal markets.

Why the Gap Matters

Limited Official Supply: The parallel market remains dominant due to tight forex availability in banks and formal channels.
Inflation & Costs: The persistent premium in the black market drives up import costs—fueling inflation and impacting Nigerians’ purchasing power.
Risk Factor: While unofficial channels may offer convenience, they also carry risks such as exposure to counterfeit currency and lack of legal protection.

Recommendations

For Traders & Importers: Closely monitor both black market and official rates to time transactions effectively.
For General Public: Prefer official platforms when possible to benefit from predictable and transparent rates.
Outlook: As the CBN intervenes and global oil prices adjust, the exchange rate gap could narrow—but meaningful reform in forex policy will be essential.

Dollar to Naira Exchange Rate June 23

Key Takeaway:
On June 23, the Naira trades at ₦1,610/₦1,615 on the black market, while the official window remains around ₦1,545–₦1,560—showcasing market fragmentation and forex scarcity.