Aboki Naira to Dollar Black Market Exchange Rate Today, 12th July 2025
The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN), popularly known as the “Aboki” rate, stands at approximately ₦1,590 for buying and ₦1,600 for selling today, Saturday, July 12, 2025, according to Bureau De Change (BDC) operators in major cities like Lagos, Abuja, Kano, and Port Harcourt.
This reflects a slight increase from yesterday’s rates of ₦1,540 for buying and ₦1,555 for selling on July 11, 2025, highlighting ongoing volatility in Nigeria’s parallel market. The Aboki rate remains significantly higher than the Central Bank of Nigeria’s (CBN) official rate, reported at approximately ₦1,547.70 as of July 4, 2025.
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The persistent gap is driven by Nigeria’s limited foreign exchange reserves, high demand for dollars for imports, international education, and travel, as well as restricted access to forex through formal channels. Economic analysts warn that without significant policy interventions to boost forex inflows, the Naira could face further depreciation, with some projections suggesting a potential climb toward ₦2,000/$1 in the near future if current trends persist.
Converting $100 to Naira today at the black market selling rate would yield approximately ₦160,000, while $1,000 would fetch around ₦1,600,000, impacting the cost of imported goods, international transactions and Nigerians’ purchasing power. The black market, operating outside the CBN’s official channels, remains a vital but volatile source of foreign currency for many Nigerians.
The CBN discourages parallel market transactions, urging citizens to use authorized banks to avoid risks such as scams and counterfeit currency. Nigerians are advised to compare rates across trusted platforms and local BDC operators to secure the best deals and exercise caution due to the unofficial nature of these transactions.
To stay updated on the latest Aboki rates, many rely on online platforms like AbokiPure.com, trusted forex blogs, and social media groups where traders share real-time updates, though rates can vary slightly by location and dealer.
As Nigeria navigates its economic challenges, the Aboki black market rate remains a critical indicator of the Naira’s performance and the broader pressures facing the nation’s economy.
Disclaimer: Black market exchange rates are unofficial and subject to rapid fluctuations. Always verify rates with multiple sources before engaging in transactions.
