Aboki Naira to Dollar Black Market Exchange Rate Today, 3rd October 2025

The Nigerian Naira maintained relative stability in the parallel market today, with the black market exchange rate for the US Dollar holding firm at approximately ₦1,490 for selling and ₦1,470 for buying, according to reports from Bureau De Change operators in major cities, including Lagos, Abuja, and Port Harcourt.

This rate, often tracked by traders as the “Aboki” rate due to informal forex dealers, shows minimal fluctuation from yesterday’s close, where the selling rate was similarly pegged at ₦1,490. The consistency comes as a brief respite for importers and small businesses grappling with currency volatility, though economists warn that underlying pressures could push rates higher in the coming weeks.

The parallel market rate remains significantly above the official Central Bank of Nigeria (CBN) window, which stood at around ₦1,455 per USD as of late yesterday, highlighting the persistent gap between regulated and informal trading.

This disparity has been fueled by Nigeria’s ongoing foreign exchange shortages, driven by declining oil revenues—the country’s primary export—and tightening global dollar liquidity.

“While today’s flat rate offers some breathing room, the Naira’s vulnerability persists due to speculative demand and limited inflows,” said Dr. Aisha Bello, an economist at the Lagos Business School. “Without bolder interventions from the CBN, such as easing import restrictions or boosting diaspora remittances, we could see the rate breach ₦1,500 by mid-month.”

Market watchers noted a slight uptick in trading volume today, attributed to heightened activity ahead of the weekend and seasonal demands from the holiday season.

Social media buzz on platforms reflected mixed sentiments, with some users hailing the stability as a sign of effective policy, while others decried the high cost of dollar-denominated imports, such as electronics and fuel.

For context, the rate has hovered in the ₦1,470–₦1,510 range over the past week, representing a marginal improvement from the late September peaks near ₦1,510. This follows the CBN’s recent interest rate adjustments aimed at curbing inflation, which reached 34.2% in August; however, critics argue that more needs to be done to unify the forex market.

As Nigeria navigates these economic headwinds, today’s Aboki rate highlights the resilience of informal traders in providing liquidity, even as it underscores the challenges of implementing formal sector reforms.

Investors are advised to closely monitor CBN announcements, with the next Monetary Policy Committee meeting scheduled for later this month.

Rates are subject to real-time changes and may vary by location. For the latest updates, consult trusted platforms like AbokiFX or local BDCs.