Aboki Naira to Dollar Black Market Exchange Rate Today, 14th July 2025
The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN), commonly referred to as the “Aboki” rate, has experienced a slight increase today, reflecting the ongoing volatility in Nigeria’s parallel market.
According to Bureau De Change (BDC) operators in major cities such as Lagos, Abuja, Kano, and Port Harcourt, the exchange rate stands at approximately ₦1,600 for buying and ₦1,610 for selling on July 14, 2025. This marks a marginal uptick from yesterday’s rates of ₦1,595 for buying and ₦1,605 for selling, as reported on July 13, 2025.
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The Aboki rate continues to diverge significantly from the Central Bank of Nigeria’s (CBN) official exchange rate, which was recorded at approximately ₦1,547.70 as of July 4, 2025. The widening gap is attributed to persistent dollar scarcity, Nigeria’s heavy reliance on imports, limited foreign exchange reserves, and restricted access to dollars through formal banking channels.
Economic analysts warn that without substantial policy interventions to boost forex inflows, the Naira could face further depreciation, with some projections suggesting a potential rise toward ₦2,000/$1 in the near future if current trends persist.
For context, converting $100 to Naira at today’s black market selling rate would yield approximately ₦161,000, while $1,000 would fetch around ₦1,610,000. Smaller transactions, such as $50, would convert to about ₦80,500. These rates underscore the significant impact of the black market on the cost of imported goods, international transactions, and Nigerians’ purchasing power.
The black market remains a critical yet volatile source of foreign currency for many Nigerians, particularly those engaged in international trade, travel, or tuition payments. However, the CBN has consistently cautioned against its use due to risks such as scams and counterfeit currency.
As Nigeria navigates its economic challenges, the Aboki black market rate remains a key indicator of the Naira’s performance and the broader pressures facing the nation’s economy.
For real-time updates, Nigerians are encouraged to monitor trusted online platforms and consult with reputable BDC operators to stay informed about the ever-changing exchange rates.
