Dollar to Naira Exchange Rate Today, Friday, June 6, 2025

Dollar to Naira Exchange Rate Today, Friday, June 6, 2025: Official Rate Holds Steady Amid Parallel Market Pressure

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The Nigerian Naira maintained relative stability against the US Dollar in official forex markets on Friday, June 6, 2025, as the Central Bank of Nigeria (CBN) continues to manage currency volatility amid persistent demand pressures.

TJ News Nigeria reports that the official exchange rate stood at ₦1,553.11 to $1, reflecting a slight appreciation compared to previous weeks. This stability is attributed to ongoing monetary policy interventions by the CBN aimed at supporting the naira and curbing inflationary pressures.

However, TJ News Nigeria gathered that the parallel, or black-market, exchange rate remains considerably weaker, trading between ₦1,600 and ₦1,605 to $1 as of Thursday evening. This premium over the official rate underscores continuing challenges in forex supply and demand dynamics outside formal channels.

Official Market vs. Parallel Market

• Official rate: The naira’s official value has shown modest gains recently, trading below ₦1,555 to the dollar. The CBN’s strategies, including targeted forex sales and tighter controls on foreign exchange for non-essential imports, have contributed to this trend.

• Parallel market: Despite the official market’s relative calm, demand pressures keep the black market rate elevated. Many businesses and individuals unable to access official forex continue to resort to parallel channels, driving the premium.

Economic Implications

Analysts TJ News Nigeria learned suggest the persistent gap between official and parallel rates signals underlying structural issues in Nigeria’s forex market, including inadequate foreign currency inflows and regulatory arbitrage.

The naira’s relative firmness in official markets may bolster investor confidence, but the parallel market premium threatens to sustain inflationary pressures on imported goods and erode purchasing power.

Also Read : Dollar to Naira Exchange Rate Today, Monday, June 2, 2025

Outlook

Market watchers anticipate continued volatility in the coming weeks, particularly as Nigeria approaches the mid-year economic cycle, which typically sees increased demand for foreign currency. The CBN’s capacity to manage supply and expectations will be critical to maintaining stability.

In summary, while the official naira-dollar rate remains steady at ₦1,553.11, the parallel market’s persistent premium of around ₦1,600 reflects ongoing forex market tensions that could impact Nigeria’s broader economic recovery.

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Summary Table of Exchange Rates (June 6, 2025):

Market Type	Exchange Rate (USD to NGN)
Official (CBN)	₦1,553.11
Parallel Market	₦1,600 – ₦1,605

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TJ News Nigeria will continue to monitor and report developments in Nigeria’s currency market and provide timely updates on economic indicators affecting the naira’s value.