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

The Nigerian Naira maintained relative stability against the US Dollar in the black market today, trading at approximately ₦1,500 per Dollar for selling, according to real-time updates from parallel market operators in major cities, including Lagos, Abuja, and Kano.

This marks a slight dip of about 0.33% from yesterday’s closing rate, reflecting ongoing volatility in Nigeria’s foreign exchange landscape. Bureau de Change (BDC) operators, commonly known as “Aboki” traders in local slang, reported buying rates around ₦1,480 per Dollar, with minor variations based on transaction volume and location.

The parallel market, which operates outside official channels, continues to serve as a critical barometer for currency sentiment, often diverging from the Central Bank of Nigeria’s (CBN) regulated rates.

In contrast, the official Investors and Exporters (I&E) window saw the Naira trading weaker at around ₦1,520–₦1,530 per Dollar earlier this week, highlighting persistent pressures from dollar demand for imports and remittances. Analysts attribute the black market’s steadiness to recent interventions by the CBN, including increased forex allocations to banks and efforts to unify exchange rates.

However, challenges like oil price fluctuations and global inflation remain headwinds. “This level of stability is a welcome breather for small businesses and households relying on dollar conversions for essentials,” said Chinedu Okoro, a forex trader in Lagos’ bustling Alaba International Market.

“But with the holiday season approaching, we’re bracing for spikes in demand that could push rates higher.” The Naira’s performance comes against a backdrop of broader economic reforms under President Bola Tinubu‘s administration, aimed at attracting foreign investment through liberalization.

However, inflation hovering above 30% and a widening trade deficit continue to erode purchasing power, prompting calls from economists for more aggressive monetary tightening. For context, the black market rate has fluctuated between ₦1,480 and ₦1,505 over the past week, a marginal improvement from September’s highs near ₦1,520.

Other major currencies followed suit: the British Pound traded at ₦1,950–₦2,000, while the Euro hovered around ₦1,650–₦1,680 in parallel dealings. Market watchers advise caution for transactors, urging the use of reputable BDCs and avoiding unregulated street deals to mitigate risks of counterfeit notes or unfair pricing.

As Nigeria navigates these turbulent waters, today’s rates underscore a fragile equilibrium—stable for now, but vulnerable to external shocks like US Federal Reserve decisions or geopolitical tensions in oil-producing regions.

Stay tuned for updates as trading progresses through the weekend. For live conversions, platforms like AbokiFX remain popular tools among users tracking these informal benchmarks.