Aboki Naira to Dollar Black Market Rate Today, 1st June 2025

The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN) today, as reported by Aboki Forex and other reliable sources, reflects ongoing volatility in Nigeria’s parallel currency market.

As of this morning, the average black market rate for the US Dollar stands at approximately ₦1,585 to buy and ₦1,595 to sell per $1 across major cities like Lagos, Abuja, Port Harcourt, and Kano.

The slight difference between buying and selling rates, known as the spread, allows black market dealers to profit amid high demand for foreign currency. Compared to recent days, the Naira has shown relative stability, with rates fluctuating marginally from ₦1,610–₦1,630 reported earlier this week.

On May 30, 2025, for instance, the black market rate was recorded at ₦1,620 (buy) and ₦1,630 (sell), indicating a minor appreciation of the Naira today.

The black market, also known as the parallel market, continues to thrive due to limited access to dollars through official channels regulated by the Central Bank of Nigeria (CBN). Factors such as high demand for foreign currency for importation, travel, and international payments, coupled with constrained supply, drive these elevated rates. Unlike the official CBN rate, which was reported at ₦1,610 on May 20, 2025, the black market offers quicker access to dollars but at a premium, reflecting Nigeria’s economic challenges.

Experts note that the Naira’s performance remains under pressure due to Nigeria’s reliance on imports and a mono-economic structure heavily dependent on oil. Social media platforms and forex blogs, including AbokiPure.com, remain popular for real-time updates on black market rates, though users are advised to verify rates with multiple sources due to the unregulated nature of the market.

Nigerians are cautioned to exercise care when engaging with black market traders to avoid scams or counterfeit currency. For the most accurate and up-to-date rates, contacting licensed Bureau De Change (BDC) operators or checking trusted platforms like Aboki Forex is recommended.

As the Naira navigates these economic dynamics, analysts predict continued fluctuations in the black market, with potential pressures pushing rates toward ₦2,000 per $1 soon if structural challenges persist.

Stay informed and compare rates before making any currency exchange decisions.