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Naira Weakens Slightly as Market Awaits CBN Interventions
The Nigerian naira recorded a slight depreciation in value against the United States dollar at both the official and parallel markets on Friday, June 27, 2025, as dollar demand continued to outpace supply.
TJ News Nigeria reports that, as of Friday morning, the naira exchanged for an average of ₦1,544.35/$1 at the official market window, based on data from exchange monitoring platforms. This represents a marginal drop from Thursday’s rate of ₦1,542, showing continued pressure on the local currency.
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Dollar to Naira Rates for June 27, 2025
- Official Market (NAFEM): ₦1,544.35/$1
- Parallel Market (Black Market): ₦1,552–₦1,560/$1 (varies by location)
- CBN Rate (June 26): ₦1,540.87/$1
- Bureau De Change (BDC): ₦1,555–₦1,558/$1 (estimated)
Exchange rate data at the official window is based on aggregated transactions conducted through the Nigerian Autonomous Foreign Exchange Market (NAFEM), which is supervised by the Central Bank of Nigeria (CBN).
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Naira Performance: Weekly and Monthly Overview
TJ News Nigeria gathered that the naira has seen minor fluctuations in the past seven days, ranging between ₦1,542 and ₦1,550 at the official market, and over ₦1,560 in some parallel segments. On a monthly basis, the local currency has lost about ₦40.70, marking a depreciation of approximately 2.64%.
In comparison:
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- On May 27, 2025, the naira traded at ₦1,503/$1.
- On June 3, it appreciated briefly to ₦1,530/$1 before reversing the gain.
- The six-month low was recorded in February 2025 at ₦1,491.37/$1.
Market Factors Driving Exchange Rate Movements
Several macroeconomic indicators are currently affecting naira valuation:
- Dollar supply constraints, especially in the oil and export sectors
- Import pressure and persistent demand for forex from manufacturers and business travelers
- Speculation in the parallel market, which continues to widen the gap between official and black market rates
Meanwhile, the CBN is expected to hold its next Monetary Policy Committee (MPC) meeting in July, where further adjustments to the interest rate or forex policies may be discussed to stabilize the currency.
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Also See: Dollar to Naira Exchange Rate Today, Tuesday June 24, 2025
Outlook and Economic Impact
Economists warn that continued naira depreciation may further worsen inflation, currently hovering around 28.5%, according to the National Bureau of Statistics (NBS). Import costs for fuel, food, electronics, and essential goods are already rising, squeezing household incomes.
Traders told TJ News Nigeria that some Bureau de Change operators are holding onto their stockpiles in anticipation of another drop in naira value next week.
CBN Advisory to Nigerians
The Central Bank of Nigeria has reiterated its stance that the official FX market should be used for all legitimate transactions. The apex bank also continues its crackdown on illegal FX trading platforms and unlicensed dealers operating in the black market.
In a circular last month, the CBN warned:
“We advise all Nigerians to refrain from engaging in unregulated forex dealings. The bank is working to ensure stability in the foreign exchange market through coordinated policy efforts.”
Summary of Key Exchange Rates (June 27, 2025)
| Market Type | Exchange Rate (₦/$1) |
|---|---|
| Official Market | ₦1,544.35 |
| Black Market Avg | ₦1,552 – ₦1,560 |
| BDC Dealers | ₦1,555 – ₦1,558 |
| CBN Rate (June 26) | ₦1,540.87 |
TJ News Nigeria will continue to monitor the market and provide real-time updates on dollar to naira exchange rates, official CBN positions, and forex market developments affecting businesses and consumers.
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