Aboki Naira to Dollar Black Market Exchange Rate Today, 27th July 2025

The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN), commonly referred to as the “Aboki” rate, has shown slight fluctuations today, reflecting the ongoing economic dynamics in Nigeria’s parallel foreign exchange market.

According to reports from Bureau De Change (BDC) operators across major cities, including Lagos, Abuja, Kano, and Port Harcourt, the dollar is trading at an average buying rate of ₦1,528 and a selling rate of ₦1,540 as of July 27, 2025.

This represents a marginal increase of approximately 0.33% compared to yesterday’s rates, which stood at ₦1,535 for selling, as reported by some sources. The narrow spread of ₦12 between buying and selling rates indicates a relatively balanced market, with moderate demand for dollars driven by the need for international transactions, including travel, tuition payments, and the importation of goods.

For context, converting $100 to Naira at today’s black market selling rate would yield approximately ₦154,000, while $1,000 would fetch around ₦1,540,000. Smaller transactions, such as $50, would convert to about ₦77,000. These rates have a significant impact on the cost of imported goods, international education, and travel expenses, making the Aboki rate a critical indicator for many Nigerians.

The Central Bank of Nigeria (CBN) continues to caution against reliance on the black market, citing risks such as scams and counterfeit currency. The official CBN exchange rate, reported at approximately ₦1,524.86 as of July 17, 2025, remains slightly lower than the parallel market rates, highlighting the persistent gap between official and black market channels.

Economic analysts attribute the elevated black market rates to Nigeria’s heavy reliance on imports, constrained foreign exchange reserves, and limited access to dollars through formal channels.