Aboki Naira to Dollar Black Market Exchange Rate Today, 7th November 2025
The Nigerian Naira maintained a fragile equilibrium against the US Dollar in the parallel market today, with Aboki traders – the informal currency dealers dominating Lagos’ bustling forex corridors – quoting a selling rate of ₦1,455 and a buying rate of ₦1,440 per dollar.
This marks a marginal uptick from yesterday’s close, reflecting cautious optimism amid ongoing economic headwinds. Sources from Bureau De Change (BDC) operators in key hubs such as Lagos, Abuja, and Port Harcourt confirmed the rates early Friday morning, underscoring the black market’s role as a barometer of Nigeria’s forex woes.
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“Demand is steady but not frantic,” one anonymous Aboki trader told reporters, attributing the stability to subdued importer activity and a slight uptick in diaspora remittances. However, whispers of potential spikes loomed as global oil prices – Nigeria’s economic lifeline – dipped below $70 per barrel overnight.
The parallel market rate, often a lifeline for everyday Nigerians seeking dollars for travel, education abroad, or small-scale imports, continues to outpace the Central Bank of Nigeria’s (CBN) official window.
While exact official figures for today remain pending, recent CBN data pegged the NAFEM (Nigerian Autonomous Foreign Exchange Market) rate at around ₦1,480 earlier this week, highlighting a narrowing but persistent premium in the black market.
| Currency | Buying Rate (₦) | Selling Rate (₦) | Change from Nov 6 |
|---|---|---|---|
| USD | 1,440 | 1,455 | +₦5 / +0.3% |
| GBP | 1,878 | 1,891 | Stable |
| EUR | 1,650 | 1,666 | +₦5 / +0.3% |
| CAD | 1,036 | 1,050 | Stable |
Analysts point to a cocktail of factors propping up the Naira: renewed CBN interventions injecting $200 million into the market last week, coupled with seasonal upswings in agricultural exports.
Yet, inflation hovering at 28% and foreign investor jitters over policy inconsistencies could unravel this calm. “If oil doesn’t rebound, we might see ₦1,500 by month’s end,” warned a Nairametrics economist, echoing broader concerns about Nigeria’s import-dependent economy.
For remittances and cross-border hustlers, today’s rates offer a brief respite. Platforms like KoboFx reported brisk morning trades, with one user noting, “Finally, a breather – wiring funds home feels less like daylight robbery.”
As the day unfolds, all eyes remain on Aboki alleys and digital trackers for real-time shifts.
Stay tuned for updates as the market evolves. For live conversions, check trusted apps like AbokiFX or consult your local BDC. In Nigeria’s forex arena, stability is fleeting – but for now, the Naira fights on.
