Aboki Naira to Dollar Black Market Exchange Rate Today, 15th October 2025
The Nigerian Naira maintained relative stability against the US Dollar in the parallel market today, with black market operators, popularly known as “Aboki” traders, quoting a selling rate of approximately ₦1,505 per dollar.
This marks a marginal uptick from recent sessions but continues to reflect the currency’s persistent depreciation amid Nigeria’s challenging economic landscape.
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According to sources from Bureau De Change (BDC) operators in key cities, including Lagos, Abuja, Port Harcourt, and Kano, the buying rate hovered around ₦1,485, creating a spread of about ₦20 between buy and sell prices.
These rates, tracked via platforms like AbokiFx and local forex aggregators, underscore the informal sector’s role as a vital barometer for everyday currency transactions in Nigeria, where official channels often fall short for small-scale traders and individuals.
The black market rate remains elevated compared to the Central Bank of Nigeria’s (CBN) official Nigerian Autonomous Foreign Exchange Market (NAFEM) rate, which stood at around ₦1,537 per dollar as of late September, with a modest spread highlighting gradual convergence efforts.
However, experts attribute the Naira’s resilience today to seasonal inflows from diaspora remittances and agricultural exports, though broader factors like fluctuating oil prices and inflation continue to weigh heavily.
“This stability is a welcome breather, but it’s fragile,” said Dr. Aisha Bello, an economist at the Lagos Business School. “With global uncertainties and domestic policy tweaks, we could see volatility return if foreign reserves don’t bolster further.”
Nigeria’s external reserves have dipped below $35 billion in recent months, exacerbating dollar scarcity and fueling parallel market premiums. For context, the Naira has lost over 50% of its value since mid-2023, driven by factors including the removal of fuel subsidies, foreign investment outflows, and a lingering currency redesign crisis.
Today’s rate translates to roughly $664 for ₦1 million, a stark reminder of the purchasing power erosion affecting households and businesses alike. Traders on the streets of Lagos’ bustling Computer Village and Idumota markets reported brisk but cautious activity, with many opting for smaller transactions to mitigate risks.
“We’re holding steady at 1,505 sell, but buyers are picky—everyone’s watching the CBN’s next move,” one anonymous Aboki operator told reporters. As the federal government pushes reforms under President Bola Tinubu‘s administration, including the unification of exchange rates, market watchers remain optimistic for long-term gains.
Yet, for now, the black market endures as the go-to for millions navigating Nigeria’s forex maze. Stay tuned for updates as rates evolve throughout the day. For real-time conversions, visit trusted platforms like AbokiFx.
