- Dollar to Naira Exchange Rate Today – June 5, 2025.
- CBN official rate remains lower, sparking forex market concerns.
- Forex gap widens as demand surges across parallel markets.
The exchange rate between the US dollar and the Nigerian naira has seen another marginal adjustment on the black market as of Wednesday, June 5, 2025.
According to traders at the Lagos Parallel Market (commonly referred to as the black market or Aboki FX), the dollar is being bought at ₦1,591 and sold at ₦1,600.
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EKO HOT BLOG reports that this latest rate reflects the continued pressure on the naira, driven largely by demand for foreign currency in the absence of adequate supply.
Meanwhile, at the official market overseen by the Central Bank of Nigeria (CBN), the dollar exchange fluctuates between ₦1,556 and ₦1,577. The CBN has continued to advise individuals and businesses to access forex through licensed financial institutions rather than the parallel market.
The gap between the official rate and the black market remains significant, contributing to market volatility. The parallel market continues to thrive due to persistent challenges in the formal forex window, including delays and strict requirements.
In addition to the dollar, the British Pound and Euro also traded higher in the black market today. Here’s a table showing the current rates for major currencies:
| Currency | Buying Rate (₦) | Selling Rate (₦) |
|---|---|---|
| USD (Dollar) | 1,591 | 1,600 |
| GBP (Pound) | 2,015 | 2,030 |
| EUR (Euro) | 1,715 | 1,730 |
Please note: Forex rates may vary across markets and locations.
