As of Tuesday, June 3, 2025, the exchange rate for the U.S. dollar to the Nigerian naira in the Lagos Parallel Market commonly referred to as the black market stands at ₦1,595 per dollar for buying and ₦1,620 per dollar for selling. This information was obtained from currency traders operating within the Bureau De Change (BDC) segment.
Important Note on Forex Transactions
It is essential to understand that the Central Bank of Nigeria (CBN) does not officially recognize exchange rates from the parallel market. The apex bank has consistently advised Nigerians seeking to purchase foreign exchange to do so through licensed commercial banks, in line with its foreign exchange policy.
Current Black Market Dollar to Naira Rates (Unofficial Market)
| Currency Pair | Buying Rate | Selling Rate |
|---|---|---|
| USD to NGN (Black Market) | ₦1,595 | ₦1,620 |
Official Dollar to Naira Rate – CBN Figures
On the official market, the dollar exchanged between ₦1,579 and ₦1,584, depending on the volume and source of the transaction. These figures are based on the Central Bank of Nigeria’s latest published rates.
| Currency Pair | Lowest Rate | Highest Rate |
|---|---|---|
| USD to NGN (CBN Rate) | ₦1,579 | ₦1,584 |
Please note that exchange rates may vary depending on your location, the method of transaction, and the dealer involved. The rates presented above are for informational purposes and may not reflect the exact rate you will receive when buying or selling foreign currency.
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