- Dollar To Naira Exchange Rate Today, June 1, 2026
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CBN exchange rate ranged between ₦1,372 and ₦1,375.
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Gap between official and parallel markets remained relatively narrow.
The Nigerian Naira traded at ₦1,385 per dollar in the black market on Monday, June 1, 2026, while the buying rate stood at ₦1,375, according to currency traders monitoring foreign exchange transactions across major markets.
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EKO HOT BLOG reports that the exchange rate remains a key concern for businesses, importers, travelers, and individuals involved in foreign currency transactions as fluctuations continue to impact the cost of goods and services across the country.
The Central Bank of Nigeria (CBN) official foreign exchange market recorded rates ranging between ₦1,372 and ₦1,375 per dollar during trading activities.
| Dollar To Naira (USD/NGN) | Exchange Rate |
|---|---|
| Black Market Buying Rate | ₦1,375 |
| Black Market Selling Rate | ₦1,385 |
| CBN Lowest Rate | ₦1,372 |
| CBN Highest Rate | ₦1,375 |
Analysis of the rates shows a relatively narrow gap between the parallel market and the official market, reflecting improved liquidity compared to periods when the spread between both markets widened significantly.
Foreign exchange movements continue to be influenced by demand from importers, manufacturers, international students, and travelers seeking access to dollars for various transactions. Analysts say market participants are closely watching monetary policies and foreign exchange inflows for indications of the naira’s future direction.
The difference between the black market selling rate of ₦1,385 and the CBN highest rate of ₦1,375 represents a spread of ₦10 per dollar.
Meanwhile, Nigerians are advised to note that exchange rates may vary slightly depending on location, transaction volume, and the foreign exchange dealer involved. Rates are also subject to change throughout the trading day based on market forces.
Individuals and businesses engaging in foreign exchange transactions are encouraged to verify prevailing rates before concluding any deals.
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