Aboki Naira to Dollar Black Market Exchange Rate Today, 11th July 2025

The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN), commonly referred to as the “Aboki” rate, is showing slight fluctuations today.

As of Friday, July 11, 2025, Bureau De Change operators in major cities like Lagos, Abuja, Kano, and Port Harcourt report the Dollar to Naira rate at approximately ₦1,540 for buying and ₦1,555 for selling.

This marks a minor decrease from yesterday’s rates of ₦1,565 for buying and ₦1,575 for selling on July 10, 2025, driven by ongoing market dynamics. The black market rate continues to diverge significantly from the Central Bank of Nigeria’s official rate, which was around ₦1,547.70 as of July 4, 2025. The gap is attributed to Nigeria’s limited foreign exchange reserves, high demand for dollars for imports, international education and travel, and restricted access to forex through formal channels.

Converting $100 to Naira at today’s selling rate yields approximately ₦155,500, while $1,000 fetches around ₦1,555,000, impacting the cost of imported goods and dollar-denominated transactions. The reliance on the black market persists due to dollar scarcity in the official market, with analysts warning that without significant policy interventions, the Naira could approach ₦2,000/$1 if trends continue.

The Central Bank of Nigeria discourages parallel market transactions, urging citizens to use authorized banks to avoid risks like scams and counterfeit currency, though the black market remains a vital lifeline for many due to its accessibility.

As Nigeria navigates economic challenges, the Aboki rate remains a key indicator of the Naira’s performance and staying informed through trusted platforms.

Disclaimer: Black market rates are unofficial and subject to frequent changes. Always verify rates from trusted sources before transactions. For the latest updates, visit forex platforms.