Aboki Naira to Dollar Black Market Exchange Rate Today, 17th August 2025
The Nigerian Naira continues to face significant pressure against the US Dollar on the black market, commonly referred to as the “Aboki” exchange rate.
The black market exchange rate stands at approximately ₦1,529.867 to $1. This rate reflects ongoing volatility in Nigeria’s foreign exchange market, driven by persistent demand for dollars and limited supply in the parallel market.
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The black market rate remains notably higher than the official exchange rate, highlighting the challenges faced by the Central Bank of Nigeria (CBN) in stabilizing the Naira.
Recent data indicates a significant depreciation compared to historical benchmarks. For instance, recall that during the administration of former President Goodluck Jonathan, the dollar exchanged for between ₦150 and ₦197, while under former President Muhammadu Buhari, it reached ₦400. The current rate of over ₦1,500 underscores the Naira’s continued struggle amid economic reforms and global market dynamics.
On August 8, 2025, the Naira had appreciated to around ₦1,525/$1, supported by stabilizing foreign exchange reserves and increased foreign portfolio inflows following monetary and fiscal reforms. However, today’s rate suggests that these gains may be under pressure, with the black market reflecting a slightly weaker Naira.
Economic analysts attribute the persistent gap between official and black market rates to speculative trading, foreign exchange scarcity, and structural issues in Nigeria’s economy. The CBN has continued to implement measures aimed at unifying exchange rates and boosting liquidity, but the black market remains a critical indicator of public sentiment and economic realities for many Nigerians.
Traders and businesses relying on the parallel market for foreign currency transactions are advised to monitor rates closely, as fluctuations can significantly impact costs. The public is also cautioned that black market rates, while widely referenced, are unofficial and subject to rapid changes based on local demand and supply dynamics.
For the latest updates on exchange rates and economic developments, Nigerians are encouraged to consult reliable sources and platforms like Juicyway for real-time currency conversion services.
Disclaimer: Black market exchange rates are unofficial and can vary by location and trader. Always verify rates with trusted sources before engaging in transactions.
