Aboki Naira to Dollar Black Market Exchange Rate Today, 17th June 2025

The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN) today, as reported by Aboki traders in major markets across Lagos, Abuja, and other key cities, stands at ₦1,590 for buying and ₦1,600 for selling, according to real-time data from platforms like Aboki Forex and Nairatoday.

These rates reflect slight stabilization from last week’s highs of ₦1,620 for selling and ₦1,610 for buying in some markets, though the Naira remains under pressure due to foreign exchange scarcity, high dollar demand, and Nigeria’s import-driven economy.

The parallel market, known as the Aboki market, thrives as Nigerians seek faster access to dollars than official channels provide. Factors like limited dollar supply, surging oil prices due to Middle East tensions, and restrictive Central Bank of Nigeria (CBN) policies contribute to the gap between official and black market rates.

The official rate, per the CBN and platforms like Wise, was approximately ₦1,569.61 per $1 on June 16, 2025, down 0.316% from the previous day. Currency dealers in Lagos’ Zone 4 and Abuja’s Wuse Zone 4 reported slight regional variations, with some quoting up to ₦1,615 for selling in high-demand areas.

Analysts warn that without boosting foreign reserves or reducing import reliance, the Naira could approach ₦2,000/$1 soon.

The CBN urges using official channels to avoid risks associated with the unregulated black market.