Aboki Naira to Dollar Black Market Exchange Rate Today, 29th November 2025

The Nigerian Naira maintained a fragile equilibrium against the US Dollar in the parallel market on Saturday, with informal currency traders, popularly known as “Aboki” operators, quoting rates that showed minimal fluctuation from the previous trading day.

As Nigeria navigates ongoing economic headwinds, including persistent inflation and global oil price volatility, the black market exchange rate emerged as a key barometer for currency stability ahead of the holiday season.

According to reports from active Bureau De Change (BDC) operators in major cities such as Lagos, Abuja, Port Harcourt, and Kano, the Dollar to Naira black market rate stood at approximately ₦1,460 for buying and ₦1,475 for selling per USD as of midday on November 29.

This marks a slight uptick from Friday’s close of ₦1,450/₦1,460, reflecting cautious trading amid low weekend volumes. The rates, aggregated from street-level dealers and online trackers, underscore the Naira’s ongoing depreciation trajectory, which has seen it lose over 20% of its value against the Dollar since the start of 2025.

The black market, often a more volatile indicator than the official Central Bank of Nigeria (CBN) rates, continues to trade at a premium over the regulated NAFEM (Nigerian Autonomous Foreign Exchange Market) window, where the Naira hovered around ₦1,537 per USD earlier this week.

Economists attribute the parallel market’s relative calm to seasonal factors, including reduced demand for foreign exchange during the weekend and anticipation of CBN interventions to bolster reserves ahead of December remittances.

“While the Naira has shown signs of mild stability in the informal sector, underlying pressures from import dependency and foreign investor hesitancy remain,” said Dr. Aisha Bello, a currency analyst at Lagos-based economic consultancy firm FinEdge.

“Year-end dollar inflows from diaspora remittances could provide a buffer, but without decisive policy measures, we may see rates testing ₦1,500 by mid-December.”

Market participants on social media platforms echoed this sentiment, with traders in Abuja reporting brisk but subdued activity focused on small-scale transactions. One operator, speaking anonymously, noted, “Demand is picking up for holiday travel, but sellers are holding firm—expect a nudge higher if oil dips below $70 per barrel.”

The Naira’s fortunes are inextricably linked to Nigeria’s oil-dependent economy, which accounts for over 90% of export revenues. Brent crude prices, trading around $72 per barrel on Friday, offered limited relief, as global supply concerns from Middle East tensions failed to offset softening demand from China.

Meanwhile, the CBN’s recent rate hikes to 27.5% have curbed speculative hoarding but done little to stem capital outflows. For businesses and individuals relying on the black market for forex needs—ranging from school fees abroad to raw material imports—these rates translate to heightened costs.

A $1,000 remittance, for instance, now fetches about ₦1.46 million at the buying rate, down from ₦1.2 million a year ago. Financial advisors urge caution, recommending official channels where possible to mitigate risks from unregulated dealers.

As Nigeria approaches the festive period, all eyes will be on incoming data from the CBN’s foreign reserve updates and potential dollar auctions. For now, the black market’s whisper of stability offers a brief respite in a year defined by turbulence, but experts warn that without structural reforms, the Naira-dollar dance is far from over.

Rates are indicative and subject to real-time fluctuations. For the latest updates, consult licensed BDC operators or platforms like TheCityCeleb.