Naira Stays Firm at ₦1,535/₦1,520 in Black Market on September 24, 2025
The Nigerian Naira maintained a relatively stable position against the US Dollar in the parallel market today, with Aboki (black market) operators quoting a buying rate of ₦1,535 and a selling rate of ₦1,520 per dollar.
This marks a slight appreciation from recent sessions, offering a brief respite for traders and importers amid ongoing foreign exchange pressures.
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According to sources at Bureau De Change (BDC) operators in Lagos, the rates reflect sustained demand for dollars but improved liquidity in the informal sector.
The parallel market, often referred to as the “Aboki FX” rate due to its popularity among street traders, continues to trade at a premium over the official Central Bank of Nigeria (CBN) window, which hovered around ₦1,511 per dollar earlier this week.
Key Factors Influencing Today’s Rates
- Improved Dollar Inflows: Recent remittances and diaspora transfers have bolstered supply in the black market, preventing a sharper depreciation of the Naira. Analysts note that this aligns with a nine-week rise in Nigeria’s forex reserves, which reached new highs last week.
- Global Oil Price Stability: With Brent crude trading above $75 per barrel, Nigeria’s primary export revenue stream has provided some cushion against currency volatility.
- CBN Interventions: The apex bank’s subtle interventions in the Investors and Exporters (I&E) window have indirectly stabilized parallel rates, though critics argue for more aggressive measures to bridge the gap between official and black market values.
| Currency Pair | Buy Rate (₦) | Sell Rate (₦) | Change from Sept 23 |
|---|---|---|---|
| USD/NGN | 1,535 | 1,520 | Stable |
| EUR/NGN | 1,760 | 1,790 | +0.5% |
| GBP/NGN | 2,060 | 2,100 | +0.2% |
Broader Implications for the Economy
The marginal stability in today’s Aboki rates comes as welcome news for small businesses and individuals reliant on dollar-denominated imports, such as electronics and pharmaceuticals.
However, economists warn that without structural reforms—like boosting non-oil exports—the Naira could face renewed pressure in the coming months. “The black market remains a barometer for public sentiment on the economy,” said Dr. Aisha Bello, a forex analyst at a Lagos-based think tank.
“Today’s flat rates signal cautious optimism, but inflation at 34% continues to erode purchasing power.” For those planning international transactions, experts recommend monitoring platforms like AbokiFX for real-time updates and avoiding large-volume exchanges without verified dealers to mitigate risks of scams.
Stay tuned for updates as the market evolves throughout the day. For live rates, visit trusted sources like TheCityCeleb.Com.
