Aboki Naira to Dollar Black Market Exchange Rate Today, 18th June 2025
The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN), commonly referred to as the “Aboki” rate, continues to reflect the ongoing pressures on Nigeria’s foreign exchange market.
As of today, Wednesday, June 18, 2025, sources from Bureau De Change (BDC) operators in Lagos and Abuja report that the dollar is being bought at approximately ₦1,590 and sold at ₦1,600 on the parallel market.
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This represents a slight stabilization compared to rates earlier this week, where the selling rate reached as high as ₦1,615 on June 13, 2025. However, the Naira remains under significant strain due to persistent high demand for dollars, driven by Nigeria’s import-dependent economy, travel, education, and commercial activities.
The Central Bank of Nigeria (CBN) continues to regulate the official foreign exchange market, but limited dollar supply has pushed individuals and businesses to rely on the parallel market, where rates are typically higher and more volatile.
On June 17, 2025, the black market rate was reported at ₦1,576 (buy) and ₦1,595 (sell), indicating a marginal strengthening of the Naira today. Analysts attribute this minor improvement to seasonal factors, including reduced demand post-Eid, but caution that the Naira could face further depreciation if structural economic challenges, such as low foreign reserves and oil price fluctuations, persist. Recent reports highlight a surge in oil prices due to geopolitical tensions, which could impact Nigeria’s forex inflows.
The disparity between the official and black market rates remains a concern for policymakers. The CBN has repeatedly advised against using the parallel market, urging individuals to access forex through authorized banks. However, the ease of access and immediacy of transactions in the black market continue to make it a preferred option for many Nigerians.
As the Naira navigates these turbulent waters, Nigerians are bracing for potential further fluctuations. Experts suggest that long-term solutions, including boosting local production and diversifying the economy, are critical to reducing reliance on the dollar and stabilizing the exchange rate.
Note: Black market rates are unregulated and may vary slightly across different markets. Always verify rates with trusted local dealers before engaging in transactions.
