Aboki Naira to Dollar Black Market Rate Today, 9th June 2025

The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN) today, as reported by Bureau De Change (BDC) operators and online platforms, stands at an average of ₦1605 to buy and ₦1615 to sell per $1 in major cities such as Lagos, Abuja, and Port Harcourt.

This marks a slight strengthening of the Naira compared to recent days, with sources attributing the shift to increased dollar supply in the parallel market ahead of the Sallah festivities.

The black market, also known as the parallel market, continues to play a significant role in Nigeria’s foreign exchange landscape due to limited access to dollars through official channels regulated by the Central Bank of Nigeria (CBN). The official exchange rate, as per the CBN, is approximately ₦1564/$1, reflecting a notable gap with the black market rates.

According to Aboki Forex, a trusted source for real-time black market rates, the current rates fluctuate slightly depending on location and dealer. For instance, in Abuja’s Wuse Zone 4 market, some traders reported buying dollars at ₦1600 and selling at ₦1620. These variations stem from the unregulated nature of the parallel market, where demand and supply dynamics drive prices.

Economic analysts note that the Naira’s recent gains could be temporary, driven by seasonal factors such as increased remittances and dollar inflows during the festive period. However, persistent challenges like Nigeria’s reliance on imports and limited foreign exchange reserves continue to pressure the currency.

“The black market remains a critical outlet for individuals and businesses needing quick access to dollars, despite the risks,” said Chinedu Okeke, a Lagos-based forex trader.

For those tracking the market, the Dollar to Naira black market rate is expected to remain volatile. Stay informed by checking trusted platforms and comparing rates before making transactions.

Note: Black market exchange rates are subject to rapid changes and may vary by location. Always verify with local dealers for the most accurate rates.