Aboki Naira to Dollar Black Market Exchange Rate Today, 20th June 2025

The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN), commonly referred to as the “Aboki” rate, remains a focal point for Nigerians navigating the country’s foreign exchange challenges.

As of today, Bureau De Change (BDC) operators in major cities like Lagos and Abuja report that the dollar is being bought at approximately ₦1,594 and sold at ₦1,605 on the parallel market, according to sources monitoring the unregulated forex market.

This rate reflects marginal stability compared to yesterday’s figures, which stood at ₦1,595 (buy) and ₦1,605 (sell). The slight fluctuation highlights the persistent demand for dollars, driven by Nigeria’s import-heavy economy, international travel, and educational expenses, coupled with a limited supply in the official market, which is regulated by the Central Bank of Nigeria (CBN). The CBN’s official exchange rate, as of recent reports, hovers around ₦1,610 per dollar, indicating a narrowing gap with the black market rate.

The parallel market continues to thrive due to its accessibility and immediacy, despite warnings from the CBN about the risks of unregulated transactions, including potential legal issues, scams, and counterfeit currency. Economic analysts attribute the Naira’s pressure to structural issues such as low foreign reserves and fluctuating global oil prices, which significantly impact Nigeria’s forex dynamics.

Other major currency rates on the black market today include the Pound Sterling at ₦2,140 (buy) and ₦2,165 (sell), and the Euro at ₦1,785 (buy) and ₦1,800 (sell). These rates highlight the premium commanded by foreign currencies in the parallel market, driven by high demand and limited supply.

Experts caution that without policy reforms to boost forex supply or reduce Nigeria’s reliance on imports, the Naira could face further depreciation, with some projections suggesting it may approach ₦2,000 to $1 by late 2025.

Disclaimer: Engaging in black market transactions is unregulated and carries significant risks. Readers are advised to verify rates from multiple sources and consult licensed BDC operators or banks for secure transactions.