Dollar To Naira Exchange Rate Today: What You Should Know (Black Market Vs. CBN Rate)
As Nigeria continues to navigate economic reforms and exchange rate volatility, the value of the Naira against the U.S. Dollar remains a topic of daily interest for traders, travelers, and investors alike. Whether you’re sending money abroad, making international purchases, or just trying to keep up with market trends, understanding the current exchange rates is essential.
But before diving into today’s figures, let’s clear up a common confusion.
🚫 CBN’s Stance on the Black Market
The Central Bank of Nigeria (CBN) has officially disavowed the parallel (black) market, urging individuals and businesses to conduct all forex transactions through authorized banks and licensed forex dealers. According to the CBN, the black market does not reflect the true value of the Naira and should not be used as a reference for official transactions.
That said, the black market remains active and influential in determining real-time access to dollars for many Nigerians — especially given ongoing foreign exchange shortages.
💵 Dollar to Naira Black Market Rate Today (June 14, 2025)
| Exchange Type |
Rate (₦/USD) |
| Buying Rate |
₦1574 |
| Selling Rate |
₦1585 |
In the parallel market today, the Naira is buying at ₦1574 and selling at ₦1585 per U.S. dollar. These rates are typically offered by street traders and unauthorized dealers, which many individuals still rely on for faster access despite the risks.
🏦 CBN Official Dollar to Naira Rate Today
| Metric |
Rate (₦/USD) |
| Highest Rate |
₦1570 |
| Lowest Rate |
₦1537 |
According to official data from the CBN, the Dollar is trading between ₦1537 and ₦1570 today. These are the benchmark rates used by financial institutions, importers, and government-related transactions.
🔍 Why the Difference?
The gap between the black market and the CBN rate is driven by several factors:
-
Limited forex supply in the official market
-
Increased demand from importers, travelers, and students
-
Inflationary pressures and speculation
-
Policy uncertainties and capital control measures
This disparity often leads individuals to turn to the black market for quicker transactions — despite higher risks and unofficial status.
⚠️ Important Note for Forex Users
Please remember:
The exchange rates you encounter in real life may differ slightly from what is reported in this article. Rates can fluctuate hourly depending on location, transaction amount, and dealer margins.
If you’re engaging in any significant forex transaction, confirm the rate in real-time with your bank or licensed bureau de change.
✅ Final Thoughts
Whether you follow the black market trends or stick with CBN-approved sources, staying informed is key. Nigeria’s forex landscape remains fluid, and being aware of both official and unofficial rates helps you make smarter financial decisions.
Stay tuned for daily updates as we track the Dollar-Naira exchange rate in real time — and remember: knowledge is power in the forex game.
