Aboki Naira to Dollar Black Market Exchange Rate Today, 28th July 2025

The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN), popularly known as the “Aboki” rate, remains a critical indicator of Nigeria’s parallel foreign exchange market dynamics.

As of today, Monday, July 28, 2025, Bureau De Change (BDC) operators across major hubs like Lagos, Abuja, Kano, and Port Harcourt report the dollar trading at an average buying rate of ₦1,530 and a selling rate of ₦1,540, reflecting a slight appreciation of the Naira compared to recent days.

This marginal stability in the black market, also referred to as the parallel market, comes amid moderate demand for foreign currency driven by international transactions, travel, tuition payments, and importation needs. For context, converting $100 to Naira at today’s selling rate yields approximately ₦154,000, while $1,000 would fetch around ₦1,540,000. Smaller transactions, such as $50, would convert to about ₦77,000.

The Central Bank of Nigeria (CBN) continues to caution against reliance on the black market, emphasizing the risks of 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.

The slight appreciation of the Naira today suggests a temporary balance in the parallel market, but analysts warn that without significant policy interventions to boost forex inflows and reduce import dependency, the Naira may face renewed pressure in the coming months.

Nigerians are encouraged to consult trusted BDC operators or online platforms for the latest rates and to exercise caution when engaging in parallel market transactions.