Dollar to Naira Exchange Rate Today, June 10, 2025

Current Official Exchange Rate

As of Tuesday, June 10, 2025, the Central Bank of Nigeria (CBN) has pegged the official exchange rate of the US Dollar to Naira at ₦1,555.40 per $1. This figure represents the latest rate in Nigeria’s official foreign exchange market.

TJ News Nigeria reports that this rate reflects a slight appreciation of the naira compared to previous figures observed at the start of June. Market analysts believe this movement aligns with ongoing reforms in Nigeria’s monetary policy landscape.

Official Rate at a Glance:

• USD to NGN (CBN Official Rate): ₦1,555.40

• Previous Official Rate: ₦1,558.20

• Trend: Slight appreciation

Parallel Market (Black Market) Exchange Rate Today

In the parallel market, commonly referred to as the black market, the Dollar to Naira exchange rate today, June 10, 2025, is slightly higher. Bureau de Change (BDC) operators in major markets like Lagos, Abuja, and Port Harcourt are selling the US dollar between ₦1,580 and ₦1,590 per $1, depending on demand and availability.

Black Market Rate Summary:

• Buying Rate: ₦1,570 per $1

• Selling Rate: ₦1,585 – ₦1,590 per $1

TJ News Nigeria gathered from BDC sources that the widening gap between the official rate and black market persists due to continued foreign exchange scarcity in Nigeria’s financial system.

Dollar to Naira Rates in Major Cities

City	Buying Rate	Selling Rate
Lagos	₦1,570	₦1,585
Abuja	₦1,575	₦1,590
Port Harcourt	₦1,572	₦1,588
Kano	₦1,568	₦1,583

Recent Performance of the Naira

TJ News Nigeria learnt that over the past week, the naira has shown signs of gradual strengthening in the official market. Last week’s rates hovered around ₦1,562 to ₦1,558 per $1. Analysts attribute this marginal improvement to the Central Bank’s ongoing efforts to stabilize the foreign exchange market by clearing forex backlogs and implementing tighter monetary policies.

However, the disparity between the official rate and the black market rate continues to raise concerns among investors and ordinary Nigerians, especially those who rely on dollars for international transactions, tuition fees, and importation.

Factors Influencing the Current Exchange Rate

Several factors are influencing the performance of the naira against the dollar:

• Foreign Exchange Reserves: Nigeria’s external reserves remain under pressure due to rising debt servicing obligations and fluctuating crude oil prices.

• Global Oil Prices: As a major oil-exporting country, Nigeria’s foreign earnings are tied to global oil markets. Any decline in crude oil prices affects the supply of forex.

• CBN Policies: The Central Bank’s drive towards unifying the exchange rates and reducing reliance on the parallel market is gradually shaping market sentiments.

• Speculative Activities: Dollar hoarding by individuals and businesses contributes to demand pressure in the unofficial market, impacting rates.

Implications for Nigerians

For Nigerians engaged in international trade, tuition payments abroad, or those making remittances, the widening gap between official and parallel market rates poses financial challenges. Many resort to black market sources due to limited access to foreign exchange through official channels.

Importers, in particular, face increased operational costs due to the unfavourable exchange rate, with ripple effects felt in the prices of imported goods nationwide.

Outlook for the Naira

Market observers expect the naira’s performance in the coming weeks to depend largely on:

• CBN interventions and forex supply management

• Global oil market trends

• Inflationary pressures within the local economy

• Government fiscal policies on foreign trade

While gradual appreciation is expected in the official market, the disparity with the black market may persist until significant forex inflows are secured.

Dollar to Naira Exchange Rate Table – June 2025 Overview

Date	Official Rate (₦)	Black Market Rate (₦)
June 3, 2025	₦1,562.50	₦1,585
June 5, 2025	₦1,559.80	₦1,588
June 8, 2025	₦1,556.00	₦1,590
June 10, 2025	₦1,555.40	₦1,585 – ₦1,590

Stay with TJ News Nigeria for daily updates on forex rates, economic trends, and developments in Nigeria’s financial sector.