Aboki Naira to Dollar Black Market Exchange Rate Today, 8th July 2025

The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN), popularly known as the “Aboki” rate, continues to reflect Nigeria’s volatile economic landscape.

As of today, Tuesday, July 8, 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 ₦1,585 for buying and ₦1,595 for selling, according to reliable sources like TheCityCeleb and NewsOnline Nigeria.

This marks a slight increase from yesterday’s rates, which stood at ₦1,580 for buying and ₦1,590 for selling on July 7, 2025, indicating ongoing fluctuations in the parallel market. The Aboki rate, driven by supply and demand dynamics, remains significantly higher than the Central Bank of Nigeria’s (CBN) official rate, reported at approximately ₦1,559.41 on July 7, 2025.

The persistent disparity between official and black market rates is fueled by Nigeria’s limited foreign exchange reserves and high demand for dollars for imports, international education, and travel. 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.

For context, converting $100 to Naira today at the black market rate would yield approximately ₦159,500, while $1,000 would fetch around ₦1,595,000. The black market remains a critical but volatile source of foreign currency for many Nigerians, despite the CBN’s warnings against its use due to risks like scams and counterfeit currency.

Nigerians are advised to exercise caution and compare rates across trusted platforms and local BDC operators to secure the best deals. As the economic situation evolves, the Aboki black market rate remains a key indicator of the Naira’s performance and the broader challenges facing Nigeria’s economy.

Disclaimer: Black market exchange rates are unofficial and subject to rapid fluctuations. The CBN encourages all forex transactions to be conducted through authorized banks and licensed financial institutions.