Aboki Naira to Dollar Black Market Exchange Rate Today, 2nd July 2025
The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN), popularly known as the “Aboki” rate, remains a critical indicator for Nigerians navigating the country’s economic challenges.
As of today, July 2, 2025, sources from Bureau De Change (BDC) operators in major cities such as Lagos, Abuja, Kano, and Port Harcourt report the Dollar to Naira black market rate at approximately ₦1,570 for buying and ₦1,575 for selling. These figures reflect slight stability compared to yesterday’s rates, which stood at ₦1,570 (buy) and ₦1,575 (sell) in Lagos, according to industry sources.
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The black market, also referred to as the parallel market, operates outside the Central Bank of Nigeria’s (CBN) official channels and is driven by supply and demand dynamics. Unlike the official exchange rate, which is regulated by the CBN, the black market rate is influenced by factors such as currency scarcity, high demand for dollars for importation, travel, and international payments, and limited foreign exchange reserves.
This has resulted in the Naira facing persistent pressure, with some economic analysts warning that the rate could approach ₦2,000/$1 in the near future if current trends persist. Today’s rates show a marginal fluctuation from June 30, 2025, when the average black market rates were reported at ₦1,570 (buy) and ₦1,575 (sell), as per data from online platforms, indicating similar averages across the country, with some dealers quoting slightly higher rates in specific locations like Abuja’s Wuse Zone 4 market, where dollars are bought at ₦1,585 and sold at ₦1,600.
The persistent gap between the official and black market rates continues to impact the cost of imported goods, international education, and travel expenses for Nigerians. Economic experts attribute this disparity to Nigeria’s reliance on imports and ongoing challenges in accessing foreign currency through official channels.
The CBN has repeatedly advised individuals to use regulated banking systems for forex transactions to avoid the risks associated with the black market, such as scams and counterfeit currency.
Nigerians are also encouraged to exercise caution when dealing with street traders to avoid financial losses.
As the economic landscape evolves, the Aboki black market rate remains a vital pulse of Nigeria’s informal forex market, reflecting the broader economic pressures facing the Naira. Stay tuned for daily updates on USD/NGN rates and other currency trends.
