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What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)?
See the black market Dollar to Naira exchange rate for 27th February, below. You can swap your dollar for Naira at these rates.
How much is a dollar to naira today in the black market?
Dollar to naira exchange rate today black market (Aboki dollar rate):
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for ₦1490 and sell at ₦1500 on Thursday 27th February, 2025, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | ₦1490 |
| Selling Rate | ₦1500 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Highest Rate | ₦1500 |
| Lowest Rate | ₦1496 |
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Meanwhile, Nigeria’s foreign reserves have decreased by $2.2 billion, raising concerns about the central bank’s backing of the Naira and the resolution of over $2 billion in foreign exchange backlog.
Naija News reports that this development follows remarks made by the Chief Executive Officer of Financial Derivatives, Bismark Rewane, who mentioned that the Central Bank of Nigeria (CBN) has expended $8.8 billion to support the Naira.
In a recent investor update, AIICO Capital Limited pointed out that trading activity remained strong, with transactions taking place within the range of $/₦1,490.00 to $/₦1,520.00 per US dollar, predicting that the Naira will continue to trade at these levels.
According to analysts, the pricing of money was predominantly affected by CBN’s interventions.
Reports had it that the CBN intervened in the foreign exchange market, selling US$66.80 million to licensed dealer banks. The ongoing FX sales to banks have also enhanced the foreign exchange supply to the Bureau de Change.
As a result, the Naira appreciated by N₦8.62 and ₦50.00, closing at $/N1,501.08 and $/₦1,510.00 in the official and parallel markets, respectively.
TrustBanc Financial Group Limited reported that Nigeria’s foreign exchange reserves fell by USD300.11 million week-on-week to USD38.74 billion, marking the sixth consecutive week of decline.
Reports indicate that the forex reserves have contracted by $2.2 billion since reaching a peak of $40.92 billion on January 6, based on data compiled by Bloomberg.
This decline represents the longest streak since November 2022 and is anticipated to bring Nigeria’s reserves to their lowest point since October.
Prior to this, the foreign reserves were recorded at $42 billion in December.
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