Aboki Naira To Dollar Black Market Rate Today 25th January 2025

As of the morning of January 25, 2025, the Nigerian Naira has shown a nuanced shift in its valuation against the US Dollar in the parallel market, colloquially known as the “Aboki” market.

According to the latest data, the buying rate for the US Dollar stands at N1,665, with the selling rate slightly higher at N1,675. This represents a stabilization from the rates observed over the previous days, highlighting the ongoing economic volatility in Nigeria’s informal currency market.

The black market continues to act as a significant barometer for the Naira’s real value, often presenting rates that are markedly different from the official exchange rates set by the Central Bank of Nigeria (CBN). This discrepancy underscores the dual currency system in Nigeria, where the black market often reflects the true demand and supply dynamics for foreign currency, driven by factors such as educational and medical expenses abroad, import costs, and travel needs.

Economic analysts have pointed out that the Naira’s performance in the black market is influenced by a variety of factors, including government debt, oil production levels, and global economic conditions. With Nigeria’s economy grappling with high inflation rates, the government’s recent policies aimed at stabilizing the currency have had mixed results, with the parallel market often reacting quickly to these changes.

The demand for US dollars in the black market remains high, driven by the need for foreign currency in sectors like education, healthcare, and importation of goods. The informal market’s rates are also influenced by the availability of dollars, which can fluctuate due to various economic policies and market sentiments.

Today’s rates come at a time when President Tinubu has set ambitious goals to reduce inflation from 34.6% to 15% by the end of 2025, a policy that could impact currency stability across both official and informal markets. However, the black market’s sensitivity to supply and demand dynamics means that rates can change rapidly, often not aligning with the government’s economic targets.

For those looking to engage in currency exchange, it’s advisable to check rates from multiple Bureau De Change (BDC) operators and stay informed through various sources, as the black market rates can vary across different locations and dealers.