Aboki Naira to Dollar Black Market Exchange Rate Today, 9th August 2025

The black market rate stands at approximately ₦1,560 to $1 USD, a marginal increase from the rates observed in late July, which hovered between ₦1,540 and ₦1,555.

The black market, often a key indicator of currency demand and supply outside official channels, continues to play a significant role in Nigeria’s foreign exchange landscape. The slight uptick in the rate comes amidst broader economic challenges, including inflation and limited foreign currency inflows, which have put pressure on the Naira.

Traders in Lagos and Abuja reported brisk activity, with demand for dollars driven by businesses and individuals seeking to hedge against currency volatility.

Analysts note that the black market rate remains significantly higher than the official exchange rate set by the Central Bank of Nigeria (CBN), a point of contention among economic stakeholders.

The gap between official and parallel market rates underscores ongoing challenges in Nigeria’s foreign exchange policy, with critics like Sam Amadi warning of potential systemic issues in related sectors, such as electricity, due to inadequate market readiness.

While the CBN has made efforts to stabilize the Naira through interventions, the black market continues to thrive, driven by informal traders known as “Aboki” who operate in major cities.

Nigerians are advised to stay informed of both official and parallel market rates when engaging in foreign exchange transactions, as the disparity can significantly impact costs.

The economic situation remains fluid, and further developments in Nigeria’s forex market are expected to influence both local and international trade in the coming weeks.

Disclaimer: Black market exchange rates are unofficial and subject to rapid changes. Always consult reliable sources or financial institutions for accurate and up-to-date information.