Official naira rate steadies at ₦1,372.76/$; parallel market at ₦1,395-1,408

Data from the Nigerian Foreign Exchange Market shows the naira traded at about ₦1,370 to the dollar on Thursday, closing Wednesday’s session at approximately ₦1,372.76 per dollar. At this official rate, $100 buys roughly ₦137,276 and $1,000 buys about ₦1.37 million. In the parallel (black) market, the dollar was bought at around ₦1,395 and sold for between ₦1,405 and ₦1,408, depending on location and dealer. Analysts say the naira’s movement will continue to hinge on dollar inflows from oil exports, foreign portfolio investments, diaspora remittances, and interventions by the Central Bank of Nigeria. The parallel market premium over the official rate stands at roughly 2% to 3%. For individuals and businesses needing foreign currency, knowing both rates helps assess the true cost of imports, travel, or overseas payments. If you plan to convert money, consider checking official bank rates first for larger transactions, while the parallel market may be used for smaller, urgent needs—though at a higher cost. Monitoring oil price trends and CBN policy announcements can also give clues about future naira direction.

SOURCE: https://www.channelstv.com/2026/06/25/naira-to-dollar-exchange-rate-today-june-25-2026/