Aboki Naira to Dollar Black Market Exchange Rate Today, 2nd November 202

The Nigerian Naira maintained its fragile equilibrium against the US Dollar in the parallel market on Sunday, with Aboki traders quoting a selling rate of ₦1,500 and a buying rate of ₦1,480 per Dollar.

This marks a slight uptick from Friday’s levels, reflecting cautious optimism among informal forex operators as weekend trading volumes remained subdued.

The rates, sourced from Bureau de Change (BDC) operators in key hubs like Lagos and Abuja, come on the heels of the Central Bank of Nigeria’s (CBN) ongoing efforts to stabilize the currency through tighter forex controls and rate unification initiatives.

Analysts attribute the Naira’s recent plateau to a combination of subdued importer demand and a tentative rebound in oil exports, though external pressures like potential US Federal Reserve pauses and fluctuating global commodity prices continue to loom large.

For context, the official Investor and Exporter (I&E) window closed at around ₦1,450 per Dollar on Friday, underscoring the persistent premium in the unregulated Aboki segment that fuels arbitrage for cross-border traders.

Earlier in the week, rates hovered closer to ₦1,495 (sell) on October 31, showing minimal volatility over the past few days.

Local businesses, including tech startups and textile importers, are increasingly turning to digital tools like AbokiFX for real-time hedging, as remittances and everyday forex needs strain under the weight of economic headwinds.

“The Naira’s current stance offers a sliver of relief, but we’re not out of the woods yet,” said a Nairametrics economist, warning that the currency could test ₦1,520 by mid-November if oil inflows falter.

Market watchers advise caution for individuals and small traders, emphasizing the importance of reputable dealers to avoid scams in the parallel market. As Nigeria navigates its economic recovery, all eyes remain on upcoming CBN announcements for further cues on forex policy.

Rates are subject to intraday fluctuations and based on parallel market averages as of November 2, 2025. For live updates, consult trusted platforms like TheCityCeleb.