Aboki Naira to Dollar Black Market Exchange Rate Today, 28th October 2025
The Nigerian Naira demonstrated resilience in the parallel market today, trading at stable levels against the US Dollar as black market operators, commonly referred to as “Aboki” traders, quoted rates of ₦1,499 for selling and ₦1,485 for buying.
This marks a marginal dip from the previous day’s close of ₦1,500/₦1,480, reflecting cautious optimism among forex dealers in major cities, including Lagos, Abuja, and Kano.
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According to real-time updates from Bureau De Change (BDC) operators and monitoring platforms, the rates remained consistent with recent trends, showing a slight appreciation for the Naira despite ongoing global economic pressures.
For comparison, the official Central Bank of Nigeria (CBN) rate hovered around ₦1,450 per USD, underscoring the persistent premium in the informal sector driven by high demand for dollars amid import needs and remittances.
Market analysts attribute the stability to several factors, including a recent surge in Nigeria’s foreign reserves to a five-year high of $42.8 billion, bolstered by increased oil exports and a 44.3% rise in the trade surplus to ₦7.46 trillion in the second quarter.
Additionally, the International Monetary Fund (IMF) has projected GDP growth of 3.9% for 2025, signaling growing investor confidence. “The Naira’s firmness is a welcome breather after months of volatility,” said Emeka Okoro, a forex trader in Lagos.
“With fuel exports ramping up and inflation easing to 18% from 24% earlier this year, we’re seeing less panic buying of dollars.” However, challenges persist. Inflation, though declining, continues to erode purchasing power, with food prices remaining a pain point for households.
The black market’s premium over official rates highlights structural issues like limited dollar supply and speculative trading. Economists warn that any escalation in global oil prices or renewed US-China trade tensions could reverse these gains.
| Currency Pair | Black Market Buy Rate (₦) | Black Market Sell Rate (₦) | Change from Oct 27 |
|---|---|---|---|
| USD/NGN | 1,485 | 1,499 | -1 / -1 |
| GBP/NGN | 1,920 | 1,945 | Stable |
| EUR/NGN | 1,620 | 1,640 | -2 / -1 |
For those engaging in forex transactions, experts advise using licensed BDCs to avoid scams and tracking rates via reliable platforms like AbokiFX.
As Nigeria navigates its economic recovery under President Bola Tinubu‘s administration, today’s rates offer a glimmer of hope for further stabilization in the coming weeks.
Stay tuned for updates as markets evolve. For live conversions, visit TheCityCeleb.
