Aboki Naira to Dollar Black Market Rate Today, 3rd June 2025

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

According to data from Aboki Forex and other street market trackers, the black market rate for the Dollar to Naira in major cities such as Lagos, Abuja, Port Harcourt, and Kano is approximately ₦1,620 to buy and ₦1,595 to sell per US Dollar. This marks a slight fluctuation from yesterday’s rate, which was reported at ₦1,620 for buying, indicating a stable but high exchange rate environment.

The black market, also known as the parallel market, continues to thrive due to persistent foreign currency scarcity in Nigeria’s official markets, driven by high demand for dollars for importation, travel, and international payments. Unlike the Central Bank of Nigeria (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 real-time supply and demand dynamics.

Posts on social media from June 2, 2025, indicate a slightly lower buying rate of ₦1,610 and a selling rate of ₦1,620, suggesting minor variations across different traders and regions. These rates are not uniform, as the unregulated nature of the black market results in slight variations depending on location and trader.

Economic analysts note that the Naira’s performance remains under pressure due to Nigeria’s reliance on imports and limited foreign exchange inflows. The black market rate, often seen as a gauge of economic sentiment, continues to reflect these challenges. Traders are advised to compare rates from multiple sources, including Bureau De Change (BDC) operators and platforms like AbokiPure.com, to secure the best deals.

For real-time updates, Nigerians are encouraged to check trusted forex blogs and social media platforms or consult local BDC operators while exercising caution due to the risks associated with unregulated transactions, such as potential scams or counterfeit currency.

Note: Black market rates fluctuate frequently and may vary by location. Always verify rates before engaging in transactions.