Aboki Naira to Dollar Black Market Exchange Rate Today, 29th June 2025

The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN) today, as reported by sources at Bureau De Change (BDC) in Lagos, stands at approximately ₦1570 for buying and ₦1590 for selling. This reflects a slight fluctuation compared to yesterday’s rates, signaling ongoing volatility in Nigeria’s parallel market.

The black market, also known as the parallel market, remains a critical avenue for Nigerians seeking foreign currency due to limited access through official channels regulated by the Central Bank of Nigeria (CBN). Despite the CBN’s directive to use banks for forex transactions, the parallel market persists, driven by high demand for dollars for importation, travel, and international payments.

The disparity between buying and selling rates allows black market dealers to profit, with the spread fluctuating based on market demand and dollar scarcity.

Economic analysts note that the naira’s value continues to face pressure due to Nigeria’s reliance on imports, limited foreign reserves, and fluctuating oil prices. The black market rate, often higher than the official rate, reflects real-time supply and demand dynamics, making it a key indicator of economic sentiment. For instance, on June 23, 2025, rates were reported as high as ₦1600 per USD, highlighting the naira’s ongoing challenges.

Experts advise caution when engaging in black market transactions due to legal and financial risks, including potential scams and counterfeit currency. Nigerians are encouraged to compare rates from multiple sources, such as trusted online platforms like AbokiPure.com or street traders, to secure the best value.

As the naira navigates a complex economic landscape, staying informed is crucial for making sound financial decisions.

Note: Black market rates are unofficial and can vary by location and trader. Always verify rates before transacting.