Aboki Naira to Dollar Black Market Exchange Rate Today, 21st August 2025

The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN), commonly referred to as the “Aboki” rate, remains a critical indicator for Nigerians navigating the volatile foreign exchange landscape.

As of today, Thursday, August 21, 2025, currency dealers in Nigeria’s parallel market are quoting the Dollar to Naira exchange rate at approximately ₦1,555 for buying and ₦1,560 for selling, according to sources from Bureau De Change (BDC) operators in Lagos, Abuja, and other major cities.

This represents a marginal increase from yesterday’s rate of ₦1,550 (buying) and ₦1,555 (selling), reflecting ongoing fluctuations driven by high demand for foreign currency and limited supply through official channels.

The black market, often preferred for its accessibility and speed, continues to serve as a primary source of dollars for individuals, small businesses, importers, and students abroad, despite the Central Bank of Nigeria (CBN) urging citizens to use regulated banking systems.

The gap between the black market and official exchange rates remains a concern. The CBN’s Investors’ and Exporters’ (I&E) window reported rates between ₦1,525 and ₦1,540 per dollar, significantly lower than the parallel market.

This disparity highlights the ongoing challenges in accessing foreign currency through official channels, including limited dollar allocations, stringent documentation requirements, and lengthy processing times.

Market analysts attribute the Naira’s pressure to several factors, including Nigeria’s reliance on imports, fluctuating oil revenues, and reduced foreign direct investment. “The black market will continue to thrive as long as official channels cannot meet the demand for dollars,” said Chinedu Okeke, a Lagos-based forex trader. “Until we see stronger inflows from exports or remittances, the Naira will face challenges.”

Nigerians are advised to exercise caution when engaging with black market dealers.

For those seeking to convert dollars to Naira, today’s rates translate to:

• 100 USD = ₦156,000 (selling)
• 500 USD = ₦780,000 (selling)
• 1000 USD = ₦1,560,000 (selling)

As the Naira navigates an uncertain economic landscape, staying informed through reliable sources remains crucial for making sound financial decisions. For real-time updates, visit trusted platforms like Aboki Forex or consult the CBN for official rates.

Disclaimer: Black market rates are unofficial and subject to variation based on location, dealer, and transaction volume. The CBN does not recognize the parallel market and advises using authorized forex channels.