Aboki Naira to Dollar Black Market Exchange Rate Today, 20th July 2025

The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN), commonly known as the “Aboki” rate, continues to reflect the ongoing volatility in Nigeria’s parallel market.

According to sources from Bureau De Change (BDC) operators in major cities such as Lagos, Abuja, Kano, and Port Harcourt, the dollar is trading at an average buying rate of ₦1,530 and a selling rate of ₦1,540 on Sunday, July 20, 2025.

This rate remains consistent with figures reported on July 19, 2025, where BDC operators quoted a buying rate of ₦1,530 and a selling rate of ₦1,540 in Lagos. The stability in the rates comes amidst moderate demand for dollars in the parallel market, driven by the need for international transactions, including travel, tuition payments, and importation of goods.

However, the Central Bank of Nigeria (CBN) continues to caution against reliance on the black market, urging individuals and businesses to conduct foreign exchange transactions through authorized banks due to risks such as scams and counterfeit currency.

For context, converting $100 to Naira at today’s black market selling rate would yield approximately ₦154,000, while $1,000 would fetch around ₦1,540,000. Smaller transactions, such as $50, would convert to about ₦77,000. These rates highlight the significant impact of the parallel market on the cost of imported goods and international payments for Nigerians.

The official CBN exchange rate, reported at approximately ₦1,524.86 on July 17, 2025, remains lower than the black market rates, underscoring the persistent gap between official and parallel markets. Economic analysts attribute the elevated black market rates to Nigeria’s heavy reliance on imports, limited foreign exchange reserves, and restricted access to dollars through formal channels. Some projections suggest that without substantial policy interventions to boost forex inflows, the Naira could face further depreciation in the coming months.

As Nigeria navigates its foreign exchange challenges, the Aboki rate remains a critical indicator of the Naira’s performance and the broader economic pressures facing the nation.

For the latest official rates and policy updates, the Central Bank of Nigeria’s website is recommended.