Aboki Naira to Dollar Black Market Exchange Rate Today, 30th July 2025

The Nigerian Naira has shown a slight appreciation against the US Dollar in the black market, also known as the parallel market, today.

According to currency dealers across major hubs in Lagos, Abuja, Port Harcourt, and Kano, the Dollar to Naira black market exchange rate on Wednesday, July 30, 2025, stands at:

• Buying Rate: ₦1,530 per $1  
• Selling Rate: ₦1,540 per $1

This represents a modest strengthening of the Naira compared to yesterday’s rates, which were reported at ₦1,530 for buying and ₦1,540 for selling, reflecting a stable market with a narrow ₦10 spread. The slight gain is attributed to steady dollar inflows from remittances and reduced demand in the informal market, providing some relief for Nigerians reliant on the black market for foreign exchange.

For context, converting $100 to Naira at today’s black market selling rate yields approximately ₦154,000, while $1,000 would fetch around ₦1,540,000. These rates have a significant impact on the cost of imported goods, international tuition, travel expenses, and other dollar-dependent transactions, making the Aboki rate a critical benchmark for many Nigerians and businesses.

The Central Bank of Nigeria (CBN) continues to maintain an official exchange rate, reported today at approximately ₦1,529 per dollar, slightly lower than the parallel market rates. The persistent gap between the official and black market rates highlights ongoing challenges in Nigeria’s foreign exchange market, driven by limited dollar supply, high import demand, and constrained access to formal channels.

Economic analysts warn that while the Naira’s marginal appreciation is a positive sign, sustained pressure from import demands and seasonal overseas payments could challenge this stability in the coming weeks. The CBN has been urged to enhance interventions to bridge the gap between official and black market rates, while also addressing Nigeria’s reliance on imports and boosting foreign exchange reserves.

However, the CBN cautions against reliance on the black market due to risks such as scams and counterfeit currency, urging citizens to use licensed Bureau De Change (BDC) operators.

Note: Black market rates may vary slightly by location, transaction volume, and dealer negotiations. Always verify rates with trusted sources before engaging in transactions to ensure accuracy.