According to information gathered from traders at the Lagos Parallel Market, also known as the black market, the exchange rate for the U.S. dollar to the Nigerian naira stood at ₦1,571 for buying and ₦1,595 for selling on Monday, June 16, 2025.
This rate was confirmed by sources at the Bureau De Change (BDC) and reflects ongoing volatility in Nigeria’s foreign exchange market.
Important Note:
The Central Bank of Nigeria (CBN) does not recognize the black market as an official trading platform. The apex bank has continued to urge individuals and businesses seeking foreign exchange to conduct their transactions through licensed banks and authorized dealers.
Dollar to Naira Exchange Rates – Summary
Black Market (Lagos Parallel Market)
Currency |
Buying Rate | Selling Rate |
|---|---|---|
1 USD |
₦1,571 | ₦1,595 |
CBN Official Exchange Rate
Rate Type |
CBN Rate (₦) |
|---|---|
| Highest Rate | ₦1,555 |
| Lowest Rate | ₦1,541 |
Exchange rates fluctuate frequently depending on market demand and supply. The rates provided in this article are based on the latest figures from reliable market sources. Individuals may experience slightly different rates depending on location, dealer margins, and transaction size.
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