Aboki Naira to Dollar Black Market Exchange Rate Today, 7th July 2025

The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN), popularly known as the “Aboki” rate, remains a critical indicator for Nigerians navigating the country’s volatile economic landscape.

As of today, Monday, July 7, 2025, Bureau De Change (BDC) operators in major cities such as Lagos, Abuja, Kano, and Port Harcourt report the Dollar to Naira black market exchange rate at approximately ₦1,580 for buying and ₦1,590 for selling, according to sources from trusted platforms like TheCityCeleb and NaijaNews.

These rates reflect a marginal increase from yesterday’s figures, which stood at ₦1,555 for buying and ₦1,560 for selling on July 6, 2025, indicating ongoing fluctuations in Nigeria’s parallel market. The Aboki rate, driven by supply and demand dynamics, continues to diverge significantly from the Central Bank of Nigeria’s (CBN) official rate, which was reported at approximately ₦1,547.70 as of July 4, 2025.

The persistent gap between the official and black market rates is attributed to Nigeria’s limited foreign exchange reserves, high demand for dollars for imports, international education, and travel, as well as restricted access to forex through formal channels.

Economic analysts warn that without significant policy interventions to boost forex inflows, the Naira could face further depreciation, with projections suggesting a potential climb toward ₦2,000/$1 in the near future if current trends persist.

For context, converting $100 to Naira today at the black market rate would yield approximately ₦159,000, while $1,000 would fetch around ₦1,590,000. The black market, operating outside the CBN’s official channels, remains a vital but volatile source of foreign currency for many Nigerians, reflecting broader economic challenges such as currency scarcity and import dependency.

Citizens are advised to exercise caution when engaging in parallel market transactions due to their unofficial nature and susceptibility to rapid fluctuations. The CBN continues to recommend using official channels for forex transactions to mitigate risks such as scams and counterfeit currency.

As Nigeria’s economic landscape evolves, the Aboki black market rate remains a key barometer of the Naira’s performance and the broader pressures facing the nation’s economy.

Disclaimer: Black market exchange rates are unofficial and subject to change multiple times daily. Always verify rates with multiple sources before transacting.