Aboki Naira to Dollar Black Market Exchange Rate Today, 2nd August 2025

The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN), commonly referred to as the “Aboki” rate, remains a critical indicator for Nigerians navigating the volatile foreign exchange landscape.

As of today, Saturday, August 2, 2025, Bureau De Change (BDC) operators in key markets such as Lagos, Abuja, Kano, and Port Harcourt are quoting the dollar at an average buying rate of ₦1550 and a selling rate of ₦1555, according to sources at BDCs.

This represents a slight increase from yesterday’s rates, where the dollar was bought at ₦1545 and sold at ₦1550, reflecting ongoing fluctuations driven by high demand for foreign currency and limited supply through official channels.

The black market, also known as the parallel market, continues to thrive due to restricted access to dollars from the Central Bank of Nigeria (CBN), prompting individuals and businesses to rely on informal traders for foreign exchange transactions.

The CBN has consistently cautioned against using the black market, urging Nigerians to conduct foreign exchange transactions through authorised banks and licensed financial institutions.

However, the ease of access and faster transactions in the parallel market make it a preferred option for many. Analysts note that the naira’s pressure is exacerbated by Nigeria’s import dependency and limited foreign exchange reserves, which continue to drive the disparity between official and black market rates.

For those looking to exchange dollars today, the rates translate as follows:

• 100 USD = ₦155,500 (selling rate)
• 500 USD = ₦777,500 (selling rate)
• 1000 USD = ₦1,555,000 (selling rate)

Rates may vary slightly by location, volume, and dealer, so it is advisable to verify with trusted local BDC operators before engaging in transactions.

As the naira faces ongoing challenges, experts suggest that stabilizing the currency will require addressing structural economic issues, including boosting export revenues and enhancing forex supply through official channels.

For now, the black market remains a vital, albeit unofficial, component of Nigeria’s forex ecosystem.

Note: Black market rates are unofficial and subject to change multiple times daily. Always confirm with trusted local dealers before proceeding with transactions.