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

As of today, Wednesday, August 20, 2025, the black market exchange rate for the US Dollar to Naira stands at approximately ₦1,555 for buying and ₦1,565 for selling, according to data aggregated from trusted sources.

This represents a slight increase from yesterday’s rates, which hovered around ₦1,550 for buying and ₦1,560 for selling, reflecting a 0.32% uptick in the selling rate.

The black market, often preferred by individuals and businesses due to its accessibility and faster transaction times compared to official channels, continues to reflect the high demand for foreign currency in Nigeria. The Central Bank of Nigeria (CBN) official rate, in contrast, remains lower, ranging between ₦1,525 and ₦1,540 per dollar at the Investors’ and Exporters’ (I&E) window.

The persistent gap between the official and black market rates underscores ongoing challenges in Nigeria’s foreign exchange market, including limited dollar supply, bureaucratic hurdles, and high demand for imports, international travel, and education.

Analysts attribute the Naira’s pressure in the parallel market to several factors, including Nigeria’s reliance on imported goods, fluctuating oil revenues, and limited foreign direct investment. Despite recent reforms by the CBN aimed at stabilizing the Naira, the black market remains the go-to option for many Nigerians seeking immediate access to dollars.

“The black market thrives because it meets the urgent needs of businesses and individuals that banks cannot fulfill due to restricted forex allocations,” said Chinedu Okeke, a Lagos-based currency trader.

Nigerians are advised to exercise caution when engaging with black market dealers, ensuring transactions are conducted with trusted agents to avoid fraud. Checking rates online beforehand and avoiding peak transaction hours can also help secure better deals.

As the Naira’s outlook remains uncertain, market watchers urge the CBN to enhance liquidity and implement structural reforms to narrow the gap between official and parallel market rates.

For now, the black market remains a critical, albeit volatile, lifeline for Nigeria’s foreign exchange needs.

Stay informed with daily updates from trusted sources, such as TheCityCeleb, Aboki Forex, and the Central Bank of Nigeria, for the latest exchange rate trends.