Aboki Naira to Dollar Black Market Exchange Rate Today, 4th August 2025
As of today, Sunday, August 4, 2025, Bureau De Change (BDC) operators in major markets such as Lagos, Abuja, Kano, and Port Harcourt are quoting the dollar at an average buying rate of ₦1555 and a selling rate of ₦1560, according to sources at BDCs.
This represents a slight stability compared to yesterday’s rates, where the dollar was bought at ₦1555 and sold at ₦1560, reflecting the ongoing fluctuations driven by high demand for foreign currency and limited supply through official channels.
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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 persistent gap between the official and black market rates is driven by high demand for dollars, fueled by importation needs, international travel, and educational expenses abroad. The CBN does not recognise the black market and has repeatedly urged individuals and businesses to conduct foreign exchange transactions through authorised banks and licensed financial institutions.
However, the ease of access and faster transactions in the parallel market keep it a preferred option for many Nigerians.Financial analysts note that the naira’s value in the black market is subject to daily fluctuations, influenced by forex availability, economic sentiment, and local demand. “The black market remains a vital part of Nigeria’s forex ecosystem due to structural challenges in the official market,” said Chinedu Okeke, a Lagos-based financial analyst. “Until export revenues increase and the CBN boosts forex reserves, we’ll continue to see pressure on the naira.”
Nigerians are advised to verify rates with trusted local dealers before engaging in transactions, as black market rates can vary slightly by location, volume, and dealer.
As the naira continues to face pressure, experts suggest that stabilizing the currency will require addressing Nigeria’s import dependency and boosting foreign exchange reserves.
For now, the black market remains a critical, albeit unofficial, pillar of Nigeria’s forex ecosystem.
Note: Black market rates are unofficial and subject to change multiple times daily. Always verify with trusted local dealers before engaging in transactions.
