Aboki Naira to Dollar Black Market Exchange Rate Today, 18th October 2025

The Nigerian Naira exhibited remarkable resilience in the parallel market today, maintaining its value against the US Dollar despite ongoing global economic uncertainties and domestic inflationary pressures.

According to reports from Bureau de Change (BDC) operators in major cities, including Lagos, Abuja, and Port Harcourt, the black market exchange rate for the Dollar stood at approximately ₦1,502 for selling and ₦1,487 for buying as of midday Saturday.

This marks a marginal uptick from Friday’s rates, where the Naira was traded at ₦1,500 per Dollar, reflecting a subtle 0.13% depreciation over the weekend. Industry watchers attribute the stability to increased foreign exchange inflows from remittances and oil exports, which have helped ease the chronic dollar shortage that plagued the market earlier this year.

“The parallel market is mirroring the official Central Bank of Nigeria (CBN) rate more closely now, thanks to recent policy interventions,” said Emeka Okafor, a veteran currency trader in Lagos’ bustling Alaba International Market, a key hub for informal forex dealings.

The “Aboki” rates – slang for the informal street traders who dominate Nigeria’s black market – have become a critical barometer for everyday Nigerians navigating the high cost of imports, from electronics to foodstuffs.

At current levels, converting $100 yields around ₦150,200, a figure that has remained largely unchanged for the past week. This contrasts sharply with the official interbank rate, which hovered at ₦1,462 per Dollar earlier today, highlighting the persistent premium on the parallel market driven by demand from importers and diaspora transfers.

Economists caution, however, that the calm may be short-lived. With the International Monetary Fund (IMF) projecting Nigeria’s inflation to climb above 25% by year-end, and global oil prices fluctuating due to geopolitical tensions in the Middle East, analysts predict potential volatility in the coming weeks.

“If crude prices dip below $70 per barrel, we could see the Naira testing ₦1,550 by November,” warned Dr. Aisha Bello, an economist at the Lagos Business School. On a positive note, the CBN’s recent unification of exchange rates and crackdown on illegal forex operators have narrowed the gap between official and black market rates by nearly 10% since June.

For businesses and individuals relying on dollar conversions, platforms like TheCityCeleb continue to provide real-time updates, underscoring the digital shift in tracking these elusive rates. As Nigeria pushes toward economic diversification beyond oil, today’s steady Naira offers a glimmer of hope for sustained recovery in Africa’s largest economy.

Rates are indicative and subject to real-time fluctuations. For the most accurate quotes, consult licensed BDCs.