Aboki Naira to Dollar Black Market Exchange Rate Today, 6th July 2025

The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN), commonly referred to as the “Aboki” rate, continues to be a pivotal indicator for Nigerians navigating the country’s challenging economic landscape.

As of today, Sunday, July 6, 2025, Bureau De Change (BDC) operators in major cities such as Lagos, Abuja, Kano, and Port Harcourt report the Dollar to Naira black market exchange rate at approximately ₦1,580 for buying and ₦1,590 for selling, according to sources from trusted platforms like TheCityCeleb.

This represents a slight uptick from yesterday’s rates, which stood at ₦1,575 for buying and ₦1,585 for selling on July 5, 2025, reflecting the ongoing volatility in Nigeria’s parallel market. The Aboki rate, driven by supply and demand dynamics, continues to diverge from the Central Bank of Nigeria’s (CBN) official rate, which was reported at approximately ₦1,547.70 as of July 4, 2025.

The persistent gap between the official and black market rates is attributed to Nigeria’s limited foreign exchange reserves, high demand for dollars for imports, international education, and travel, as well as restricted access to forex through formal channels.

Economic analysts warn that without significant policy interventions to boost forex inflows, the Naira could face further depreciation, with some projections suggesting a potential climb toward ₦2,000/$1 in the near future if current trends persist.

For instance, converting $100 to Naira today at the black market rate would yield approximately ₦159,000, while $1,000 would fetch around ₦1,590,000. These rates directly impact the cost of imported goods, international travel, and other dollar-denominated expenses, making the Aboki rate a critical pulse of Nigeria’s informal forex market.

The black market, operating outside the CBN’s official channels, remains a vital lifeline for individuals and businesses seeking quick access to dollars. However, the CBN continues to discourage participation in the parallel market, urging Nigerians to use authorized banks and licensed financial institutions for safer transactions.

Nigerians are encouraged to stay informed through reliable sources such as TheCityCeleb, which provides real-time updates on black market rates. Social media platforms like X also serve as valuable resources for tracking daily fluctuations, with posts from users like @TheCityCelebs sharing the latest exchange rate updates.

As Nigeria’s economic challenges persist, the Aboki black market rate remains a key barometer of the Naira’s performance, reflecting broader pressures on the nation’s economy. Citizens are advised to compare rates across multiple sources and exercise caution when engaging in parallel market transactions, as these transactions are unofficial and subject to rapid fluctuations.

Disclaimer: Black market exchange rates are unofficial and subject to change multiple times daily. For the most accurate and up-to-date rates, consult trusted BDC operators or online platforms.