Aboki Naira to Dollar Black Market Rate Today, 13th May 2025

Friday, 20 June 2025, 2:36 pm 0 Posted By Aboki Exchange

The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN) remains a critical indicator for many Nigerians amidst ongoing economic fluctuations.

According to sources from Bureau De Change (BDC) operators in major markets like Lagos and Abuja, the black market rate for the Dollar to Naira today, Tuesday, May 13, 2025, stands at approximately ₦1,610 to buy and ₦1,625 to sell. These rates reflect the average street value, with slight variations across different parallel markets.

The black market, often referred to as the “Aboki” market, continues to thrive due to high demand for foreign currency and limited supply through official channels. Despite efforts by the Central Bank of Nigeria (CBN) to stabilize the Naira through policies like the unified Investors and Exporters (I&E) window, the gap between official and black market rates persists. The CBN’s official rate, as of today, hovers around ₦1,603 to ₦1,609, creating arbitrage opportunities for traders.

Economic analysts attribute the Naira’s volatility to factors such as inflation, speculative trading, and Nigeria’s reliance on imported goods. “The black market reflects the real-time pulse of the economy. High demand for dollars to settle international transactions and low confidence in official channels keep these rates elevated,” said Chinedu Okeke, a Lagos-based forex trader.

The black market rates are not uniform across Nigeria. In Abuja’s Wuse Zone 4 market, dealers reported rates as low as ₦1,605 for buying and ₦1,620 for selling, while in Kano, rates were slightly higher due to regional demand dynamics. Traders advise caution, warning against exchanging large sums at once due to the unregulated nature of the market.

Platforms like Aboki Forex and Monierate provide real-time updates for those seeking to exchange currencies. However, they emphasize that rates are indicative and may vary by location. Nigerians are encouraged to verify rates with trusted local exchangers to mitigate risks and avoid unverified sources.

As Nigeria navigates its economic challenges, the black market remains a vital, albeit controversial, part of the forex ecosystem. Stay tuned for daily updates on Dollar to Naira rates and other currency trends.

Disclaimer: Black market rates are unofficial and subject to rapid changes. Always consult trusted exchangers for accurate rates.