Dollar to Naira Exchange Rate Today, Monday, June 9, 2025

The Nigerian currency, the Naira, has continued to trade within a narrow band against the United States Dollar in both official and parallel markets as of today, Monday, June 9, 2025.

TJ News Nigeria gathered that the exchange rate at the official Nigerian Foreign Exchange Market (NFEM) hovered around ₦1,564.28 per Dollar, based on the latest available figures from the Central Bank of Nigeria (CBN) as of last Friday, June 6, 2025. The broader market average for early June remains in the range of ₦1,560 to ₦1,582 per Dollar.

Official Rate Maintains Relative Stability

According to data from the CBN, Nigeria’s official exchange rate in recent days has shown modest fluctuations, remaining within the mid-₦1,500s to early ₦1,580s. Financial analysts attribute this relative stability to the recent efforts of the apex bank to improve liquidity inflows into the Nigerian economy and strengthen investor confidence in the country’s monetary policies.

Although the official figure for June 9 is yet to be formally updated by the CBN at the time of this report, sources within the financial sector indicate that no major deviation from Friday’s closing rate is expected.

Parallel Market Exchange Rate

Meanwhile, in the parallel (black market) segment, the Dollar traded at approximately ₦1,559 per Dollar in spot transactions over the weekend. Independent exchange trackers observed that the rate ranged between ₦1,555 and ₦1,580, depending on location and demand pressures.

Further checks by TJ News Nigeria revealed that online exchange platforms and Bureau de Change (BDC) operators in Lagos and Abuja are quoting between ₦1,557 and ₦1,579 per Dollar for cash transactions, with slightly better rates offered for larger sums or electronic transfers.

Recent Performance and Trends

• Lowest recent rate (June 5, 2025): ₦1,567.30

• Highest recent rate (May 30, 2025): ₦1,589.12

• Spot close over the weekend (June 7-8): ₦1,559.08

Over the past week, the Naira depreciated slightly by 0.10%, marking a period of marginal stability after the market fluctuations seen in earlier months.

CBN’s Policy Stance

It would be recalled that the CBN under Governor Olayemi Cardoso has sustained interventions in the foreign exchange market, aimed at reducing the backlog of forex demands by businesses and improving dollar supply through increased diaspora remittances and crude oil sales.

With Nigeria’s approved 2025 national budget benchmark exchange rate set at ₦1,400 per Dollar, the market’s current figures continue to overshoot projections. However, monetary authorities have assured the public of ongoing reforms to narrow the gap between official and parallel market rates.

Breakdown of Exchange Rates – June 9, 2025

Market	Exchange Rate (₦/USD)
Official (CBN)	₦1,564.28
Parallel/Black Market	₦1,559 – ₦1,580
Online Platforms	₦1,559.08 (spot close)

Economic Implications for Nigerians

The continued depreciation of the Naira against the Dollar means rising costs for imported goods, pressure on inflation, and increased operational costs for businesses reliant on foreign exchange.

With inflation currently hovering above 28%, economists warn that sustained weakness in the Naira may worsen purchasing power for average Nigerian households unless foreign reserves improve significantly.

TJ News Nigeria reports that market watchers are keeping a close eye on potential developments from the Federal Government’s engagement with international financial institutions for possible support that may ease forex scarcity in the second half of 2025.

Summary

• Official rate (approx.): ₦1,564/$1

• Black market rate (approx.): ₦1,559 – ₦1,580/$1

• Market trend: Marginal depreciation, stable range

Nigerians are advised to monitor official updates from the CBN for accurate rates before engaging in large forex transactions.

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For daily Dollar to Naira exchange rate updates, stay with TJ News Nigeria for the most reliable and timely financial news.