Aboki Naira to Dollar Black Market Exchange Rate Today, 10th November 2025
The Nigerian Naira maintained a fragile equilibrium against the US Dollar in the parallel forex market on Monday, with Aboki traders – the informal currency dealers ubiquitous in Lagos, Abuja, and Kano – quoting a selling rate of ₦1,475 and a buying rate of ₦1,460 per unit.
This marks a slight uptick from Sunday’s ₦1,470 benchmark, amid subdued trading volumes and lingering caution following last week’s economic data releases.
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The rates, aggregated from street-level Bureau de Change (BDC) operators, reflect a market grappling with persistent foreign exchange pressures.
Importers and remittances-dependent households continue to favor the black market for its liquidity, despite the Central Bank of Nigeria’s (CBN) official Investor & Exporter (I&E) window hovering around ₦1,450 – underscoring a stubborn ₦25 premium that fuels arbitrage but strains everyday affordability.
“Business is slow but steady today; no big swings, just folks hedging for the holidays,” said a veteran Aboki dealer in Lagos’ Alaba International Market, speaking on condition of anonymity. “Dollars are flowing in from diaspora wires, but oil prices aren’t helping much.”
Brent crude, Nigeria’s forex lifeline, traded flat at $72 per barrel overnight, offering little relief from the Naira’s depreciation trajectory since mid-2024.
For context, the rate’s stability follows a weekend plateau at ₦1,470, down marginally from November 4’s peak of ₦1,510 sell-side amid heightened importer demand.
Analysts attribute the calm to seasonal factors, including reduced corporate forex bids ahead of year-end audits, but warn of potential spikes if the CBN delays its next Retail Dutch Auction System (RDAS) intervention.
| Currency Pair | Buy Rate (₦) | Sell Rate (₦) | Change from Nov 9 |
|---|---|---|---|
| USD/NGN | 1,460 | 1,475 | +₦5 |
| GBP/NGN | 1,910 | 1,960 | Stable |
| EUR/NGN | 1,640 | 1,690 | -₦10 |
| CAD/NGN | 1,070 | 1,100 | Stable |
Broader implications ripple through Nigeria’s import-heavy economy: A $1,000 remittance now fetches about ₦1,460,000 – a 2% gain for recipients week-on-week but still 15% weaker than six months ago.
Tech importers in Yaba bemoan rising gadget costs, while food vendors in Mile 12 cite squeezed margins on dollar-denominated wheat and rice. “We’re passing it on to customers, but how long before they push back?” one trader lamented.
Market watchers, including Nairametrics economists, eye upcoming US Federal Reserve signals and OPEC+ quotas for directional cues. “Without bolder CBN inflows or export diversification, we could see ₦1,500 by December,” one forecast noted, echoing sentiments from recent reports.
For now, digital trackers like AbokiFX remain essential for real-time conversions, bridging the gap between official rhetoric and street realities.
As Nigeria navigates its forex tightrope, today’s rates offer a brief respite – but traders advise vigilance: In the black market, stability is often just the calm before the next bid. Updates will follow as volumes pick up post-morning lull.
