Aboki Naira to Dollar Black Market Exchange Rate Today, 17th 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 reflect the ongoing volatility in Nigeria’s parallel market.

According to sources from Bureau De Change (BDC) operators across major cities such as Lagos, Abuja, Kano, and Port Harcourt, the dollar is trading at an average buying rate of ₦1,600 and a selling rate of ₦1,610 as of today, July 17, 2025. These figures mark a slight increase from yesterday’s rates of ₦1,595 for buying and ₦1,605 for selling, as reported on July 16, 2025.

The marginal uptick in rates underscores the persistent pressure on the Naira, driven by high demand for dollars amid limited foreign exchange supply through official channels. The Central Bank of Nigeria (CBN) continues to discourage transactions in the parallel market, urging individuals and businesses to utilize authorized banks for foreign exchange transactions.

However, the official CBN rate, reported at approximately ₦1,524.86 on July 17, 2025, remains significantly lower than the black market rates, highlighting the stark disparity between the official and parallel markets.

Market analysts attribute the elevated black market rates to Nigeria’s reliance on imports, rising costs of international education, travel, and commercial activities, which continue to fuel demand for dollars. Economic experts caution that without substantial policy interventions to boost forex inflows, the Naira could face further depreciation, with some projections suggesting a potential rise toward ₦2,000/$1 in the near future if current trends persist.

For context, converting $100 to Naira at today’s black market selling rate would yield approximately ₦161,000, while $1,000 would fetch around ₦1,610,000. Smaller transactions, such as $50, would convert to about ₦80,500. These rates highlight the significant impact of the black market on the cost of imported goods, international transactions, and Nigerians’ purchasing power.

The black market remains a critical yet volatile source of foreign currency for many Nigerians, particularly those engaged in international trade, travel, or tuition payments. However, the CBN has consistently warned against its use due to risks such as scams and counterfeit currency. Nigerians are advised to exercise caution and compare rates across trusted platforms like AbokiPure.com, Nairatoday.com, and local BDC operators to secure the best deals.

As Nigeria navigates its economic challenges, the Aboki black market rate remains a key indicator of the Naira’s performance and the broader pressures facing the nation’s economy.

For real-time updates, Nigerians are encouraged to monitor trusted forex platforms and verify rates with local BDC operators before engaging in transactions.