- Dollar to Naira Exchange Rate – Tuesday, June 24, 2025.
- Forex gap persists, creating inflation risks and pressure on importers.
- Geopolitical tensions, oil prices continue to influence naira’s unstable value.
Nigeria’s foreign exchange market remains sharply divided as the naira continues to trade at vastly different rates in the official and parallel markets.
Exchange Rate Table
| Market | Buying (₦/USD) | Selling (₦/USD) |
|---|---|---|
| Black Market | ₦1,610 | ₦1,615 |
| CBN Official (NFEM) | ₦1,547 (mean) | ₦1,547 (mean) |
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Black Market: EKO HOT BLOG reports that Across major hubs like Lagos and Abuja, Bureau de Change (BDC) operators are quoting ₦1,610 to buy and ₦1,615 to sell, consistent with Monday’s figures
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CBN Official (NFEM): The Central Bank’s volume-weighted average official rate remains steady at around ₦1,547 per dollar
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Market Overview
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Parallel Market Premium: The gap between black market transactions (₦1,615) and the official rate (₦1,547) stands at approximately ₦68, underscoring persistent demand pressures and limited official forex supply.
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Currency Trends: Global oil prices and geopolitical risks—especially recent tensions involving the U.S. and Iran—continue to impact the naira’s valuation across both market segments.
Implications & Advice
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For Importers and Traders: The wide arbitrage necessitates timing your forex trades carefully—favoring official channels when possible to avoid inflated costs.
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For General Public: Use official channels for predictable rates and legal protection; rely on black market rates only when absolutely necessary, and with caution.
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Economic Outlook: Unless the CBN increases dollar supply or implements targeted policy interventions, the exchange rate gap may persist, potentially fueling inflation and higher import costs.
Dollar to Naira Exchange Rate – June 24
Key Takeaway:
On June 24, 2025, the naira maintains a two-tiered reality—₦1,610/₦1,615 in the black market versus ₦1,547 via official channels, spotlighting persistent forex fragmentation and economic uncertainty.
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