Aboki Naira to Dollar Black Market Exchange Rate Today, 16th August 2025

The black market exchange rate for the Nigerian Naira against the US Dollar, commonly referred to as the “Aboki” rate, continues to reflect the economic dynamics in Nigeria’s informal currency market.

As of today, August 16, 2025, the Naira is trading at approximately ₦1,550 to $1 on the black market, according to recent posts circulating. This rate aligns with recent trends reported in early August, where the Naira was exchanging at ₦1,550.160 per US Dollar on the parallel market.

Despite a slight appreciation noted earlier this month, with the Naira trading around ₦1,525 per $1 as of August 1, 2025, the black market rate has remained relatively stable but under pressure.

The official exchange rate, while not explicitly reported for today, is typically lower than the parallel market, highlighting the persistent gap between formal and informal markets. The black market, often driven by demand for foreign currency among small businesses, travelers, and individuals, remains a critical indicator of Nigeria’s foreign exchange challenges.

Analysts attribute the sustained high rates to factors such as limited dollar liquidity, inflationary pressures, and ongoing economic reforms. A report earlier this month indicated that Nigeria’s foreign exchange reserves are stabilizing, with foreign portfolio inflows increasing due to monetary and fiscal reforms.

However, the black market continues to reflect a higher demand for dollars than the official channels can supply. Comparatively, other major currencies on the black market today include the British Pound at ₦2,200.220, the Euro at ₦1,850.190, and the Canadian Dollar at ₦1,180.120, as reported in early August.

These rates underscore the Naira’s broader depreciation trend, with the currency having weakened significantly from ₦882 per $1 on January 1, 2024, to ₦1,533 by early August 2025.

Market participants are closely monitoring the Central Bank of Nigeria’s policies and global economic trends, which could influence future movements in the black market rates.

For now, the Aboki exchange rate remains a vital reference for many Nigerians navigating the country’s complex economic landscape.

Disclaimer: Black market exchange rates are unofficial and can vary by location and transaction. For official rates, refer to the Central Bank of Nigeria or authorized financial institutions.