Aboki Naira to Dollar Black Market Exchange Rate Today, 19th August 2025

The Nigerian Naira has experienced a slight appreciation against the US Dollar in the parallel market, with the black market exchange rate, commonly referred to as the “Aboki” rate, standing at approximately ₦1,550 per $1 for buying and ₦1,560 per $1 for selling, according to sources from major markets in Lagos and Abuja. This marks a marginal improvement from rates earlier in the month, which fluctuated between ₦1,550 and ₦1,555.16 per dollar.

The black market, a critical indicator of local sentiment and immediate foreign exchange needs, continues to reflect the ongoing demand and supply dynamics in Nigeria’s forex landscape. Despite the official exchange rate set by the Central Bank of Nigeria (CBN) hovering between ₦1,515 and ₦1,525 per dollar at the Investors’ and Exporters’ (I&E) window, the parallel market remains the go-to for many Nigerians due to limited access to official channels.

Analysts attribute the persistent gap between official and black market rates to factors such as foreign exchange scarcity, high demand for dollars for importation, travel, and international payments, as well as ongoing economic challenges. Social media platforms like Twitter and WhatsApp groups have become vital sources for real-time updates on these rates, with traders and individuals sharing insights to navigate the volatile market.

For instance, posts on social media today indicate the Naira trading at around ₦1,533.67/$ in some markets, though black market rates in Lagos and Abuja are slightly higher, reflecting regional variations. Traders advise caution, recommending that individuals verify rates with trusted Bureau De Change (BDC) operators and avoid peak transaction hours to secure better deals.

As Nigeria grapples with economic pressures, including inflation and limited foreign direct investment, the black market remains a practical option for many despite regulatory risks.

Note: Black market rates are subject to rapid changes and may vary by location and transaction volume. Always verify with licensed BDC operators for accurate pricing.