Aboki Naira to Dollar Black Market Exchange Rate Today, 7th July 2026

The Nigerian naira maintained a relatively stable position against the US dollar in the black market today, with dealers quoting the parallel exchange rate at approximately ₦1,400 to ₦1,415 for selling and ₦1,385 to ₦1,400 for buying.

This comes as currency traders in major cities like Lagos, Abuja, and Kano report consistent demand for foreign exchange, driven by importers seeking dollars for essential goods and individuals covering international obligations.

The spread between buying and selling rates remains narrow at around ₦15, reflecting a balanced but cautious market sentiment among operators.

For context, the Central Bank of Nigeria’s official rate stood near ₦1,370 per dollar, highlighting the persistent gap between the formal and informal segments.

Economic analysts attribute the black market’s resilience to factors such as limited dollar supply from official channels, seasonal import activities, and global oil price fluctuations that continue to influence Nigeria’s foreign reserves.

Market participants noted a slight uptick in activity compared to the previous trading session, though no major volatility emerged. “Traders are watching policy signals closely, as any shift in CBN interventions could quickly alter the dynamics,” one bureau de change operator in Ikeja remarked.

As the week progresses, stakeholders anticipate that sustained efforts to boost non-oil exports and attract foreign investment may help ease pressure on the naira over time. Nigerians planning currency exchanges are advised to compare rates across reliable sources and exercise caution against fraudulent dealings in unregulated spots.