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The Nigerian foreign exchange market continues to witness fluctuations amid ongoing reforms in the financial sector. As of Friday, June 20, 2025, the dollar to naira exchange rate shows varying figures across the official, interbank, and parallel (black market) segments.
TJ News Nigeria reports that these variations are driven by forex liquidity constraints, inflationary pressures, and global market influences.
β Official CBN Exchange Rate (Central Bank of Nigeria)
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- CBN Rate (NFEM weighted average) β June 17 (latest): β¦1,543.34 β β¦1,547.60 per USD
- Average Closing Rate: Approximately β¦1,545 per USD (CBN Official Data)
- CBN Buying Rate (Latest Published): β¦1,549.42 per USD
π Analysis: The Central Bankβs official rate remains stable within the β¦1,543ββ¦1,550 range, providing guidance for official transactions, including international trade settlements and government-linked remittances.
β Commercial Banks (Interbank) Rate
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- Mid-Market Rate (as of June 18): β¦1,545.20 per USD
- Previous Week: β¦1,542.44 (June 13) to β¦1,545.20 (June 18)
π Trend Insight: Interbank rates closely track the CBNβs NFEM closing figure. Major Nigerian banks quote within β¦1,543ββ¦1,548, reflecting stable institutional demand.
β Parallel Market (Black Market) Dollar to Naira Rate
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- AbokiFX (June 20): β¦1,610 per USD
- AbokiForex Data (Recent Days): β¦1,550 buy / β¦1,600 sell (approximate)
- NgnRates User Reports: β¦1,585 (buy) β β¦1,605 (sell)
π Observation: The black market rate remains significantly higher than the official rate, highlighting persistent liquidity gaps and market segmentation.
β‘ Why These Rates Matter
- Importers & Exporters: Higher unofficial rates increase the cost of imported goods, affecting businesses.
- Remittance Recipients: Diaspora inflows benefit more from parallel rates, but with compliance risks.
- Investors & Forex Traders: The spread between official and black market rates continues to offer speculative opportunities amid volatility.
π Weekly Exchange Rate Summary
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| Date | Interbank Rate | CBN Closing | Black Market |
|---|---|---|---|
| June 13 | β¦1,542.44 | β | ~β¦1,585 |
| June 17 | β¦1,543.34 | ~β¦1,545 | ~β¦1,600 |
| June 20 | β¦1,545 β β¦1,548 | β¦1,549.42 | β¦1,585 β β¦1,610 |
π Current Rates Summary β Friday, June 20, 2025
| Market Segment | Exchange Rate |
|---|---|
| CBN Official | β¦1,545 (Avg.) |
| Interbank | ~β¦1,545.20 per USD |
| Black Market | β¦1,585 β β¦1,610 per USD |
TJ News Nigeria gathered that the persistent gap between official and black market rates reflects Nigeriaβs ongoing challenges in stabilizing forex reserves and managing dollar liquidity.
π Stay Updated
Forex market participants are advised to monitor updates from the Central Bank of Nigeria (CBN), commercial banks, and verified forex platforms. Using authorized channels reduces regulatory risks and ensures transparency.
Also Read :Β Dollar to Naira Exchange Rate Today, Wednesday, June 11, 2025 as NGN Gains Strength
Disclaimer: This report is based on publicly available market data at the time of publication. Currency exchange rates may fluctuate during the trading day.
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